Pag-IBIG, Muntinlupa launch housing project for LGU employees

MANILA, Philippines — Pag-IBIG Fund has launched another housing project under its Countryside Housing Initiative (CHI), this time in partnership with the Muntinlupa City government to provide affordable homes to employees of the local government unit (LGU).

The BALAI Munti Housing Project, which consists of 35 medium-rise buildings providing 668 condominium units, shall be made available to employees of the city government who may purchase these units through a Pag-IBIG housing loan.

“With the partnership between the Department of Human Settlements and Urban Development, Pag-IBIG Fund and the city government of Muntinlupa, we have made this housing project possible. This launch is a timely event because we are celebrating National Shelter Month this October,” said DHSUD Secretary Eduardo del Rosario, who also chairs the 11-member Pag-Ibig Fund board of trusteees.

He also noted that the launch is a historic event because the BALAI Munti is the first DHSUD-BALAI-funded project in the National Capital Region and is part of the CHI, which “brings together project proponents to bring quality and affordable housing projects to more Filipinos, as we continue to implement our nation’s shelter program as led by President Duterte.”

Pag-IBIG Fund established CHI in 2017 as a strategy to provide better access to homes for its members through partnerships with government and private institutions, employers and other organized groups.

Such partnerships reduce costs in building the housing projects and provide the beneficiaries with homes that are much more affordable compared to similar projects.

Pag-IBIG Fund CEO Acmad Rizaldy Moti said units in Balai Munti normally cost around P1.2 million each, but under CHI, beneficiaries can buy units for only P750,000.

“That’s the major benefit of CHI. Because of the partnerships we create, we are able to save on additional costs like marketing and promotions for a housing project. This then leads to a quality home that is more affordable than what’s available in the market,” he added.

Moti said that since 2020, despite the pandemic, Pag-IBIG Fund has been able to sign partnerships worth P1.08 billion with nine different LGUs and institutions all over the country through CHI, which shall bring 3,638 housing units for their respective beneficiaries.

“With CHI, our main target is to bring development and provide better access to homeownership for our members in areas in the countryside. We are happy that we are able to apply the same strategy in bringing affordable homes for our members residing in cities such as Muntinlupa,” he said.

Moti vowed to “continue to do our best in partnering with more organizations so that we can provide more affordable homes to members, wherever they choose to live.”