THE Home Development Mutual Fund (HDMF), or commonly called the Pag-IBIG Fund, said on Tuesday that its gross housing-related assets have reached a landmark P1.01 trillion as of July 31.
Pag-IBIG CEO Marilene Acosta said the improvement was driven by sustained growth in its housing portfolio and increased financing extended to members purchasing, building or improving their homes, as well as to institutions supporting housing development.
The trillion-peso housing portfolio embodies the very essence of Pag-IBIG — Partnership for the Future: You, the Bank, Industry and Government — with members’ savings helping fellow members achieve the dream of homeownership, according to the HDMF chief executive.
“This is Pag-IBIG at work. The savings of millions of Filipino workers are pooled together and put to productive use, much of it to help fellow members have homes of their own,” Acosta said.
Housing Secretary Jose Ramon Aliling, who chairs Pag-IBIG’s board of trustees, noted that the milestone underscores HDMF’s continuing role in expanding homeownership while stimulating activity across the housing sector and the broader economy.
Aliling said Pag-IBIG’s performance continues to reflect its commitment to achieving the directive of President Ferdinand Marcos Jr. under the Expanded Pambansang Pabahay Para sa Pilipino Program to make affordable homeownership accessible to more Filipinos.
“Reaching more than P1 trillion in housing-related assets is an important milestone. It means more financing is reaching Filipino homebuyers, while qualified developers and institutions receive greater support to provide housing,” Aliling said.
“As investments in housing grow, they also help stimulate the industry, support construction and related sectors, create jobs and contribute to broader economic growth,” according to the housing czar.
Of the P1.01 trillion in gross housing-related assets, Pag-IBIG said P971.39-billion — about 96 percent — consists of housing-related loans while the remaining P38.47 billion comprises other housing-related assets.
For members, the bulk of this represents financing that has enabled Filipino workers to acquire, build or improve their homes, the officials said.
Acosta said the emphasis on housing was embedded in the agency’s mandate, which requires that at least 70 percent of its investible funds be channeled into housing.
This mechanism allows members’ pooled savings to finance homes and housing development while generating returns that help protect and grow their funds, she pointed out.
“For a member paying a housing loan, each amortization brings that member closer to fully owning a home. Over time, that home becomes more than just a place to live. It is an asset that families can improve, preserve and pass on to the next generation,” Acosta said.
