Ayala Land's BellaVita Turns Over First 110 Homes Under Naga City Housing Program
Key Takeaways
- •BellaVita Land Corp., Ayala Land's socialized housing arm, delivered the first 110 of 1,011 homes to Naga City government employees on Aug. 18 at its village in Barangay Pacol.
- •Qualified employees acquire their homes individually through Pag-IBIG Fund housing loans under a memorandum of agreement between BellaVita and the Naga City government.
- •Naga City Mayor Maria Leonor Robredo led the ceremonial turnover together with officials from Pag-IBIG Fund, the Social Housing Finance Corp., DHSUD, and Ayala Land.
- •The village is fully developed with completed homes, roads, water and electricity connections, and a multipurpose hall, and remaining units will be turned over in succeeding phases.
- •In a separate move, Ayala Land brands Avida and Amaia signed an Aug. 12 memorandum of understanding with Pag-IBIG Fund to explore special rates, while Pag-IBIG raised its maximum housing loan to P10 million per borrower.
BellaVita Land Corp., the socialized housing arm of Ayala Land, Inc. (ALI), has turned over 110 homes to Naga City government employees, the first batch under a 1,011-unit housing program.
The units were handed over on Aug. 18 at the BellaVita Naga village in Barangay Pacol, ALI said in a statement on Wednesday.
The program was created through a memorandum of agreement between BellaVita and the Naga City government. Under the agreement, the city's Housing and Settlements Development Office facilitates employee participation and coordinates with the Home Development Mutual Fund, better known as the Pag-IBIG Fund. Qualified employees acquire their homes individually through Pag-IBIG housing loans, a setup that links the city’s housing program with the country’s main government-backed financing channel for homebuyers.
"It took Mayor Robredo and the entire Naga City government, Secretary Aliling and the Department of Human Settlements and Urban Development (DHSUD), and Pag-IBIG Fund under Chief Executive Officer Marilene Acosta, all choosing to build a bridge together, so that the very people who keep this city running, who process the permits, clear the streets, and answer the calls at City Hall, could come home to an address of their own, here in the same city they serve," ALI Chief Sustainability Officer Robert S. Lao said.
Naga City Mayor Maria Leonor G. Robredo led the ceremonial turnover together with Pag-IBIG Fund President and Chief Executive Officer Marilene C. Acosta, Social Housing Finance Corp. President and Chief Executive Officer Federico Laxa, DHSUD Assistant Secretary Johnson Domingo, and Mr. Lao.
Ms. Robredo said the units form part of a fully developed village featuring completed homes, roads, water and electricity connections, and a multipurpose hall.
The remaining units will be turned over in succeeding phases as qualified employees complete the acquisition process, extending the rollout beyond the initial handover.
In a separate development, ALI residential brands Avida Land Corp. and Amaia Land Corp. signed a memorandum of understanding with the Pag-IBIG Fund on Aug. 12 to explore special rates on selected homes for qualified members.
The Pag-IBIG Fund recently raised its maximum housing loan amount to P10 million per borrower. — Juliana Chloe A. Gonzales
