Pag-IBIG Fund, Avida Land Corp., and Amaia Land Corp. signed a memorandum of understanding to expand quality housing choices for Filipino workers under the Expanded Pambansang Pabahay para sa Pilipino Program.
The partnership will explore special rates on identified homes that qualified members may finance through Pag-IBIG Housing Loans of up to P10 million.
The agreement forms part of continuing efforts by the Department of Human Settlements and Urban Development and Pag-IBIG Fund to strengthen partnerships with private developers. Pag-IBIG Fund recently increased its maximum housing loan amount to P10 million per borrower and invited more leading developers to have their projects accredited and made accessible to qualified members through Pag-IBIG financing.
DHSUD Secretary Jose Ramon Aliling said the partnership advances the Marcos administration’s efforts to expand homeownership through stronger government support and private-sector participation.
“We continue to heed the directive of President Ferdinand Marcos Jr. to expand homeownership through stronger collaboration between government and the private sector,” Aliling said in a statement Aug. 12. “By helping developers connect their available housing inventory with Pag-IBIG Fund members and affordable financing, we give more Filipino workers quality housing choices within their means while supporting a stronger housing sector.”
He added that closer cooperation with private developers also supports DHSUD’s efforts to facilitate their compliance with the balanced housing development requirement, helping generate more socialized housing projects and expand the supply of affordable homes.
Avida and Amaia are residential brands of Ayala Land. The partnership builds on Ayala Land’s commitment to expanding access to quality homes across different segments of the market, while strengthening collaboration with government and other stakeholders to make homeownership more accessible to Filipino families.
Avida Land president Raquel Cruz said Pag-IBIG Fund’s competitive housing loan rates and higher loan ceiling provide Avida and Amaia greater opportunities to serve more Pag-IBIG members.
The parties will also explore the registration and accreditation of identified Avida and Amaia projects for developer-assisted housing loan processing, including qualified Amaia projects under Expanded 4PH. They will study measures to streamline documentation, loan processing and the release of proceeds, while assisting prospective buyer-borrower-beneficiaries in meeting program requirements.
Pag-IBIG Fund chief executive officer Marilene Acosta said the agency continues to work with a growing number of trusted developers to provide members with more quality housing choices and make homeownership more affordable.
“At Pag-IBIG Fund, we understand that every member has different housing needs and financial capacities. In line with Marcos’ directive to expand homeownership, we are working with a growing number of trusted developers to bring our members more quality housing choices and special offers,” she added. ||
