Manila unveils rent-to-own public condominiums

MANILA, Philippines — Manila Mayor Honey Lacuna inaugurated yesterday the city’s first rent-to-own public condominiums.

According to the local government, the housing project aims to provide affordable condominium units to low-income residents.

The 20-story Pedro Gil Residences is a flagship project under Lacuna’s administration.

It features 299 residential units, 143 parking slots and five commercial spaces.

The building has amenities such as swimming pool, fitness center, function room, roof deck as well as indoor and outdoor activity areas.

A health center and a sewage treatment plant are also integrated into the building’s design, ensuring residents’access to essential services.

Under the rent-to-own scheme, residents will pay only P2,000 to P3,000 per month.

Lacuna said the program is a shift from the previous administration’s approach, which provided housing under terms that denied residents eventual ownership.

The condominium units will be raffled off to eliminate bias, ensuring fairness for qualified beneficiaries, according to Lacuna.

“This program is for all Manileños, not just government employees or those with connections,” she said.

“We are building a community where everyone has an equal opportunity to achieve the dream of owning a home,” Lacuna added.