High-rise residential buildings in Quezon City. Mark Demayo, ABS-CBN News/file

The Home Development Mutual Fund, known as Pag-IBIG Fund, is urging housing developers to apply for the Pambansang Pabahay Para sa Pilipino Housing (4PH) program. 

This is the government’s flagship housing project to provide affordable homes to Filipinos.

At an online forum organized by the Subdivision and Housing Developers Association (SHDA), Pag-IBIG officials say they have allotted P250 billion for 4PH for the next 6 years. They said this will help many Filipinos to have a home of their own, and the demand remains very high.

“Pag-IBIG Fund committed to allocated P250 billion until 2028 under the Pag-IBIG Direct Development Program. That’s P250 billion for 6 years, that would mean P42 billion a year. And this will be on top of the amount that will be allocated for our end-user financing,” said Jacqueline Constantino, Pag-IBIG Fund Department Manager III of the Institutional Housing Department.

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She said eligible entities to join 4PH are local government units, developers which have a 5-year good track record, contractors licensed under the Philippine Contractors Accreditation Board, and joint ventures registered with the Securities and Exchange Commission and Bureau of Internal Revenue.

Constantino however said projects will be vertical housing only, at least for now. These include mid-rise and high-rise condominium-type buildings.

“Normally sa center of commerce or near center of commerce, kaya sa ngayon po talagang vertical development ang tinatanggap ng DHSUD [ Department of Human Settlements and Urban Development]… Depende na sa DHSUD if eventually they will be allowing horizontal development under 4PH,” Constantino clarified.

She also revealed the prices of the residential units that can be sold to the end-users. 

For four-floor buildings, units may be sold from around P933,320 to P1.1 million depending on the size, 5 to 9 floors are from P1 million to 1.2 million, and for buildings 10 floors and up prices are P1.32 million to 1.62 million. 

These prices do not include the land and site development cost which is around P180,000.

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 “We have first to identify a property which will be used, were we will be developing the 4PH. Second important prerequisite, we would be able to identify the beneficiaries. Normally kausap natin ang local government units,” she said.

 Currently, there are 19 approved projects for over 18,000 families. These are projects of the local governments of Bacolod, Palayan, Bocaue, and Laoag. There are also 4PH projects under the Social Housing Finance Corporation.