Philippine state housing finance agency Pag-IBIG Fund has signed a partnership with property developer DMCI Homes to give Filipino homebuyers a wider range of condominium that can be purchased through affordable Pag-IBIG Housing Loans.

The memorandum of understanding was signed on Friday, Oct. 16, as part of the government's continuing efforts to expand housing opportunities under President Ferdinand R. Marcos, Jr.'s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program. The deal illustrates the mechanism behind the program: government-backed financing is paired with privately developed housing stock to widen the choices available to buyers.

Department of Human Settlements and Urban Development (DHSUD) Secretary and Pag-IBIG Fund Board Chairman Jose Ramon P. Aliling welcomed the agreement, which adds DMCI Homes to Pag-IBIG Fund's growing network of leading property developer partners.

"President Ferdinand R. Marcos, Jr. has directed us to expand access to decent and affordable housing for Filipino families. By partnering with leading developers, we bring together private-sector expertise and Pag-IBIG Fund financing to offer members more housing choices and help advance the Expanded 4PH Program," Mr. Aliling said.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta and DMCI Homes President Alfredo R. Austria signed the memorandum at the Pag-IBIG Fund Corporate Headquarters in Makati City. The signing was witnessed by DHSUD Secretary Aliling, DMCI Homes Chief Finance Officer Evangeline Hernandez-Atchioco, and Pag-IBIG Fund Senior Vice-President for Sales and Business Development Fermin A. Sta. Teresa, Jr.

Under the agreement, DMCI Homes will identify participating residential projects and available units, including ready-for-occupancy properties, and extend preferential pricing and other incentives to qualified Pag-IBIG Fund members, subject to applicable terms and conditions. Pag-IBIG Fund, in turn, will provide affordable housing financing, loan counseling, and assistance to qualified prospective homebuyers. For members, that structure means developer incentives and Pag-IBIG loan assistance can come together on a single purchase.

The first DMCI Homes project accredited by Pag-IBIG Fund is Anissa Heights in Pasay City. Accreditation is also underway for other Metro Manila developments, including Allegra Garden Place, The Erin Heights, The Oriana, Cypress Towers, Dansalan Gardens Condominiums, East Raya Gardens, Maricielo Villas, Mayfield Park Residences, Palm Grove Residences, Raya Garden Condominiums, Rhapsody Residences, Rosewood Pointe, and Tivoli Garden Residences, as well as Alea Residences in Bacoor City and Verdon Parc in Davao City. Until those approvals are completed, Anissa Heights stands as the partnership's only accredited project, and the pace of accreditation will determine how soon the rest of the projected inventory becomes available to members.

Ms. Acosta said the partnership will give members more condominium choices, including ready-for-occupancy units that may be offered at preferential prices and with special developer incentives.

"Through this partnership, we are working with DMCI Homes to give our members access to more condominium choices at preferential prices. Once the necessary accreditations are completed, we expect to offer up to 3,990 units. Combined with Pag-IBIG Fund's affordable housing financing and promotional rates of 4.5% and 5.75% per annum, these options can help qualified members move closer to owning a home that meets their needs and budget. And with developments in accessible urban locations, more families can enjoy the convenience of living closer to their workplaces and essential services," Ms. Acosta said.

She added that prospective homebuyers can also visit the 2nd National Housing Expo on October 19 and 20 at the SMX Convention Center Manila, MOA Complex, Pasay City, where DMCI Homes will join more than 80 participating developers offering thousands of housing options, special Expo promotions, and opportunities to receive on-site Pag-IBIG Housing Loan assistance. For buyers tracking the partnership, the Expo serves as the first opportunity to see the expanded lineup in person while accreditations for the remaining developments are still in progress.