DBP lends P815-M for mass housing project in Bulacan

The Development Bank of the Philippines (DBP) has extended a P815-million term loan to Bright Homes & Realty Corporation for the construction of three residential buildings in Sta. Maria, Bulacan.

DBP President and Chief Executive Officer Michael de Jesus said Thursday the funding was granted under the bank’s Credit Facility for the 4PH Program (BAHAY-4PH), which supports the Marcos administration’s Bagong Pilipinas – Pambansang Pabahay para sa Pilipino (4PH) Program.

Bright Homes & Realty, a 30-year-old firm specializing in affordable housing, said the project will benefit around 900 individuals, mostly from low- and middle-income families.

“DBP’s funding support is consistent with its thrust of promoting social services and community development, as well as to realize the vision of President Ferdinand Marcos Jr. of providing decent and affordable housing for our countrymen, especially those with limited financial resources,” de Jesus said.

He added that the DBP BAHAY-4PH program is designed to provide financing to local government units, housing developers and contractors participating in the government’s flagship housing program.

“DBP will be more aggressive in seeking partners for the BAHAY-4PH program, especially private developers and LGUs, and help expedite the creation of more sustainable and inclusive communities across the country,” he said.

DBP aims to release P50 billion in loans under the program by 2030.