Pag-IBIG Fund, the Philippine government's Home Development Mutual Fund, and Megawide on Oct. 1 marked the first topping-off milestone under their partnership, further advancing President Ferdinand R. Marcos, Jr.'s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program. Two residential buildings at JAB Residences in Dasmariñas City, Cavite, have completed their main structural works, moving the development closer to delivering nearly 4,000 housing units for Filipino workers and their familiesn
The milestone comes as the Philippines begins National Shelter Month, the country's annual October observance of shelter issues, underscoring the continued progress of efforts to bring affordable homes closer to Filipino workers. A topping-off marks the point in construction where a building's structural frame is finished, making it one of the most visible early indicators of progress on a housing project. With the topping-off of the two residential buildings complete, JAB Residences has finished its main structural works, another important step toward the completion of the development. Finishing works and other construction activities will continue before the homes are turned over to qualified buyers, with the remaining 15 of the project's 17 buildings still to reach the same structural milestone.

The project consists of 17 five-storey buildings. Each 27-square-meter unit is priced at ₱1.5 million and is available at low monthly payments through the Pag-IBIG Housing Loan.

Department of Human Settlements and Urban Development Secretary and Pag-IBIG Fund Board Chairman Jose Ramon P. Aliling said the topping-off adds to the continuing momentum of Expanded 4PH as the administration works with more partners to increase housing supply while keeping homeownership affordable.

“We continue to heed the direction of President Marcos to make housing more accessible to more Filipino families,” Mr. Aliling said. “That is why we continue to address both sides of the housing equation. As we work with more partners to increase the supply of quality homes at prices our members can afford, we also make sure that financing terms remain within the means of Filipino workers. The progress we are seeing is made possible by the collective efforts of the national government, local governments, Pag-IBIG Fund and our private-sector partners, each contributing what it does best. This milestone is another step forward as we work to bring more homes within reach of more Filipino families.”

The milestone follows President Marcos' visit less than eight months ago to Megawide Construction Corp.'s precast plant in Taytay, Rizal, where he saw how modern construction methods could help accelerate the delivery of quality and affordable homes under Expanded 4PH. The progress at JAB Residences now gives visible form to that push, with construction continuing toward thousands of new homes.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the thousands of homes being developed through the partnership show how Pag-IBIG Fund can use its financial strength to help increase housing supply while safeguarding and growing members' savings.

In 2025, Pag-IBIG Fund invested ₱10 billion in Megawide preferred shares to support the development of 7,143 housing units. The investment earns 9% annually, allowing members' savings to generate returns while helping support the construction of the homes they need.

“Our members entrust us with their hard-earned savings. We have a responsibility to manage these prudently, grow their value and put them to work in ways that also help meet their housing needs,” Ms. Acosta said. “That responsibility extends to using Pag-IBIG Fund's financial strength to help increase the supply of quality homes at prices our members can afford, while keeping our housing loan rates low so monthly payments remain within their means. For us, what matters most is when these efforts come together to help a member finally receive the key to a home of their own.”

To help members afford the homes being built, qualified socialized housing borrowers under President Marcos' Expanded 4PH Program may avail themselves of the Pag-IBIG Housing Loan at a subsidized rate of 3% per annum. Pag-IBIG Fund also offers promotional housing loan rates of 4.5% per annum for loans above the socialized housing ceiling up to ₱4.9 million, and 5.75% per annum for loans above ₱4.9 million up to ₱10 million. Both promotional rates are fixed for the first three years and are available until Dec. 31, 2026, giving buyers a defined financing window that runs alongside the construction timeline at JAB Residences.

The partnership ties together the two ends of the housing equation Mr. Aliling described: on one side, ₱10 billion in members' savings earning 9% annually flows into the development of 7,143 units; on the other, subsidized and promotional loan rates are aimed at keeping monthly payments within the means of the workers those homes are built for.

Mr. Aliling and Ms. Acosta led the topping-off ceremony alongside Cavite 4th District Rep. Jennifer Austria-Barzaga, Dasmariñas City Mayor Elpidio Barzaga III, and Megawide officials led by Chairman, President and Chief Executive Officer Edgar B. Saavedra.

This report was first published by BusinessWorld's Spotlight section.