THE Home Development Mutual Fund (HDMF), also known as the Pag-IBIG Fund, has partnered with the Bases Conversion and Development Authority (BCDA) to advance the agenda of President Ferdinand Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program.
Both parties signed a memorandum of agreement on Thursday at the BCDA’s office at Bonifacio Global City in Taguig.
Under the memorandum of agreement, both agencies will “pursue housing and other development opportunities on identified BCDA properties, bringing together land, infrastructure, financing and housing expertise to help create quality homes in locations that meet Filipino workers’ needs.”
It added that the partnership between the agencies will initially prioritize about 14 hectares in New Clark City, which will comprise a 10-hectare property in Bamban, Tarlac, and a 4-hectare property in Capas, Tarlac, with the Tarlac property intended to be a government center and other complementary developments.
“The planned housing development in New Clark City is intended for workers and aims to create a walk-to-work township, bringing homes closer to employment opportunities. The parties envision an integrated development that combines housing with commercial areas and facilities for rest, recreation and other daily needs, helping workers and their families enjoy a more convenient and balanced way of life. Set amid mountains and trees, the proposed township also seeks to offer workers a home environment with access to green surroundings while keeping them within reach of their workplaces and essential services,” Pag-IBIG said in a statement on Saturday.
Meanwhile, Camp John Hay in Baguio City, Morong Discovery Park in Bataan, and the Poro Point Freeport Zone in San Fernando, La Union, have also been identified for possible projects.
Pag-IBIG said that their partnership with the BCDA “advances Expanded 4PH’s approach of addressing both sides of the housing equation by increasing the supply of quality homes and matching these with affordable financing.”
“Coming as the country celebrates National Shelter Month, the collaboration also aligns with BCDA’s plans to provide affordable and mixed-income housing for workers within reach of New Clark City’s business, industrial and commercial districts,” the Pag-IBIG Fund stated.
Housing Secretary and Pag-IBIG Fund Board Chairman Jose Ramon Aliling said the partnership with the BCDA showed how two government institutions can combine resources in making homeownership more attainable for the Filipino worker.
“President Ferdinand Marcos Jr. has directed us to sustain our efforts to provide more Filipino families with access to decent and affordable homes. Through Expanded 4PH, we are bringing together government resources and capabilities to turn that directive into concrete housing opportunities,” Aliling said.
“This collaboration between BCDA and Pag-IBIG Fund puts government land and affordable financing to work toward that goal. We hope to replicate this model with similarly situated institutions in both government and the private sector, making more land available for quality housing and ensuring that more families have the means to own a home,” he added.
Meanwhile, BCDA President and CEO Joshua Bingcang said that their collaboration with Pag-IBIG is seen as a “long-term institutional partnership.”
“As our project areas continue to grow, we want to make sure that our properties are put to productive use and that development keeps pace with the needs of the people. Through this partnership, we aim to advance projects within the Marcos administration’s term that will provide quality housing and help give Filipino families greater opportunities to own a home,” Bingcang said.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta, on the other hand, said the partnership “opens opportunities to make housing more affordable,” while also placing emphasis on how the location of the home affects the life of ordinary Filipino workers.
“Making homeownership more accessible means bringing together affordable financing and quality homes in locations that meet Filipino workers’ needs. Through this partnership, BCDA can provide access to government land, while Pag-IBIG Fund can contribute financing and housing expertise.”
