Pag-IBIG Fund launched a new housing project under its Countryside Housing Initiative in partnership with Muntinlupa City to provide affordable homes to employees of the local government unit.
The BALAI Munti Housing Project, which consists of 35 medium-rise buildings providing 668 condominium units, will be made available for employees of the city government who may purchase these units through a Pag-IBIG Housing Loan.
“With the partnership between the Department of Human Settlements and Urban Development, Pag-IBIG Fund and the city government of Muntinlupa, we have made this housing project possible. This launch is a timely event because we are celebrating the National Shelter Month this October. This is also a historic event because the BALAI Munti is the first DHSUD-BALAI-funded project in the NCR and is part of Pag-IBIG Fund’s Countryside Housing Initiative,” said DHSUD Secretary Eduardo del Rosario.
“The CHI brings together project proponents to bring quality and affordable housing projects to more Filipinos, as we continue to implement our nation’s shelter program as led by President Rodrigo Duterte,” said del Rosario, who also chairs the 11-member Pag-IBIG Fund board of trustees.
Pag-IBIG Fund established the Countryside Housing Initiative or CHI in 2017 as a strategy to provide better access to homes for its members through partnerships with government and private institutions, employers and other organized groups. Such partnerships reduce costs in building the housing projects and provide the beneficiaries with homes that are much more affordable compared to similar projects.
“If you notice, the units in the BALAI Munti normally costs about P1.2 million each. But since this project is under our Countryside Housing Initiative, beneficiaries can buy units there for only P750,000. That’s the major benefit of CHI. Because of the partnerships we create, we are able to save on additional costs like marketing and promotions for a housing project. This then leads to a quality home that is more affordable than what’s available in the market,” said Pag-IBIG Fund chief executive Acmad Rizaldy Moti.
He said that since 2020 despite the pandemic, Pag-IBIG Fund was able to sign partnerships worth P1.08 billion with nine different LGUs and institutions all over the country through the CHI, which would bring 3,638 housing units for their respective beneficiaries.
“With CHI, our main target is to bring development and provide better access to home ownership for our members in areas in the countryside. We are happy that we are able to apply the same strategy in bringing affordable homes for our members residing in cities such as Muntinlupa. We shall continue to do our best in partnering with more organizations so that we can provide more affordable homes to members, wherever they choose to live,” Moti said.