P12-B earmarked for 4PH program

The Department of Human Settlement and Urban Development (DHSUD) announced recently that around P12 billion in total funding has been allocated for the government housing program dubbed: “Pambansang Pabahay Para sa Pilipino” (4PH).

DHSUD Secretary Jose Rizalino Acuzar made the announcement as he expressed appreciation for the support of the Home Development Mutual Fund (HMDF) or Pag-IBIG Fund to the 4H program.

“This positive response by Pag-IBIG Fund for the National Housing Authority will further bolster the positive momentum of President Ferdinand Marcos Jr.’s 4PH program now being rolled out nationwide,” Acuzar said.

The latest fund allocation will initially finance the construction of medium and high-rise condominiums consisting of 4,100 units in Quezon City, 1,377 units in Valenzuela City, 944 units in Zamboanga, and 535 units in San Juan City, according to NHA General Manager Joeben Tai.

Pag-IBIG Fund also approved funding for the Social Housing Finance Corporation (SHFC) amounting to P929-Million for its housing projects under the 4PH program.

With the credit line, SHFC said it will be able to finance the construction of a total of 2,264 housing units in Pampanga, Manila, Misamis Oriental, and Davao City.

Acuzar, who also serves as Pag-IBIG Fund Board of Trustees chairman, said that Pag-IBIG’s dedication is a huge boost to bring the 4PH Program to reality. He added: “It will continuously open more doors for Filipino people to own a home that is decent yet affordable in sustainable communities,”.

“This is another solid proof of the Marcos administration’s relentless effort to uplift the lives of the poorest of the poor, “he noted.

To ensure the proper and efficient use of the funds, the NHA and the SHFC will provide corresponding loan collaterals.

DHSUD has reported 17 ongoing projects under the 4PH program, which are now in various stages of development and construction.