Pag-IBIG Fund has teamed up with Megawide Construction Corp. to speed up the delivery of 7,143 housing units in medium-rise residential developments under the Expanded Pambansang Pabahay para sa Pilipino Program (Expanded 4PH).
The partnership involves two initial sites in Dasmarinas, Cavite, consisting of 4,185 units in the Dasmarinas-Salitran site and 2,958 units in the Dasmarinas-Paliparan site. These homes are expected to be available within two to three years, priced within the socialized housing range despite featuring amenities typically found in higher-priced developments.
Under the agreement, Pag-IBIG Fund will invest up to P10 billion through a subscription to preferred shares in the project company. The investment will be released in three tranches, starting with P5 billion for the first tranche followed by P2.5 billion each for the second and third tranches. These preferred shares carry a 9 percent annual cash dividend, which steps up to 18 percent if the shares are not redeemed.
Department of Human Settlements and Urban Development Secretary and Pag-IBIG Fund Board of Trustees chair Jose Ramon Aliling said the partnership is designed to expand the supply of socialized homes while enabling faster construction and more accessible pricing.
Aliling said the approach supports the directive of President Ferdinand R. Marcos Jr. to widen access to practical homeownership options by enabling the private sector to build at scale.
Pag-IBIG Fund chief executive Marilene Acosta said the investment advances the fund’s twin mandate to expand homeownership and prudently manage members’ savings. Acosta said every peso members save represents their hope for a better future and that the partnership model aims to demonstrate how secured investments can encourage broader private sector engagement in housing.
Megawide is a leading Philippine engineering and construction company with a track record in large-scale public-private partnerships.
The collaboration aims to stimulate further private sector participation in building affordable, ready-for-occupancy homes to help address the national housing need.
