PAG-IBIG, MUNTINLUPA CITY LAUNCH HOUSING  PROJECT FOR LGU EMPLOYEES

PAG-IBIG Fund launched another housing project under its Countryside  Housing Initiative, this time in partnership with Muntinlupa City, to provide  affordable homes to employees of the local government unit.

The BALAI Munti Housing Project, which consists of 35 medium-rise  buildings providing 668 condominium units, shall be made available for  employees of the city government who may purchase these units through a  Pag-IBIG Housing Loan.

“With the partnership between the Department of Human Settlements and  Urban Development, Pag-IBIG Fund, and the City Government of  Muntinlupa, we have made this housing project possible. This launch is a  timely event because we are celebrating the National Shelter Month this  October. This is also a historic event because the BALAI Munti is the first  DHSUD-BALAI-funded project in the NCR and is part of Pag-IBIG Fund’s  Countryside Housing Initiative. The CHI brings together project proponents  to bring quality and affordable housing projects to more Filipinos, as we  continue to implement our nation’s shelter program as led by President  Rodrigo Duterte,” said DHSUD Secretary Eduardo D. del Rosario, who also  chairs the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund established the Countryside Housing Initiative or CHI in 2017  as a strategy to provide better access to homes for its members through  partnerships with government and private institutions, employers, and other  organized groups. Such partnerships reduce costs in building the housing  projects and provide the beneficiaries with homes that are much more  affordable compared to similar projects.

“If you notice, the units in the BALAI Munti normally costs about P1.2 million  each. But since this project is under our Countryside Housing Initiative,  beneficiaries can buy units there for only P750,000. That’s the major benefit  of CHI. Because of the partnerships we create, we are able to save on  additional costs like marketing and promotions for a housing project. This  then leads to a quality home that is more affordable than what’s available in  the market,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P.  Moti.

He added that since 2020, despite the pandemic, Pag-IBIG Fund has been  able to sign partnerships worth P1.08 billion with nine different LGUs and  institutions all over the country through the CHI, which shall bring 3,638  housing units for their respective beneficiaries.

“With CHI, our main target is to bring development and provide better access  to homeownership for our members in areas in the countryside. We are  happy that we are able to apply the same strategy in bringing affordable  homes for our members residing in cities such as Muntinlupa. We shall  continue to do our best in partnering with more organizations so that we can  provide more affordable homes to members, wherever they choose to live,”  Moti said