Isabela sees socialized condo

MANILA, Philippines —  A socialized condominium in Isabela will be developed to propel the government’s affordable housing program.

The trilateral agreement – signed by the National Home Mortgage Finance Corp. (NHMFC), the municipality of Roxas in Isabela and Uanjelle Land Inc. – will kickstart the development as part of the Pambansang Pabahay Para sa Pilipino (4PH) program.

The Green Valley Residences in Barangay Marcos in Roxas, Isabela has an estimated project cost of P6 billion, aimed at housing more than 4,000 families.

The municipality shall be the project’s lead proponent.

The NHMFC is tasked with purchasing the housing loan portfolio that complies with its Housing Loan Receivables Purchase Program.

Uanjelle is in charge of developing the property into a medium or high-rise condominium.

The Department of Human Settlements and Urban Development (DHSUD) would monitor implementation and project compliance.

By purchasing quality housing loans, the realization of the 4PH program becomes closer, said NHMFC president Renato Tobias.

“Through this partnership, we ensure that the people of Roxas, Isabela are safe and secure in their own homes,” he said.

“We are committed to ensuring that the cycle of funds continuously flows in the development of the housing market,” he added.

The NHMFC is one of the DHSUD’s key shelter agencies.

Roxas Mayor Jonathan Calderon said they have been working on a housing project for almost seven years.

“You can see the biggest smile on our faces because this is truly a significant, momentous event not only to the municipality of Roxas but to all our constituents,” Calderon said.