Pag-IBIG Fund launched another housing project under its CountrysideHousing Initiative, this time in partnership with Muntinlupa City, to provideaffordable homes to employees of the local government unit.
The BALAI Munti Housing Project, which consists of 35 medium-risebuildings providing 668 condominium units, shall be made available foremployees of the city government who may purchase these units through aPag-IBIG Housing Loan.
“With the partnership between the Department of Human Settlements andUrban Development, Pag-IBIG Fund, and the City Government ofMuntinlupa, we have made this housing project possible. This launch is atimely event because we are celebrating the National Shelter Month thisOctober. This is also a historic event because the BALAI Munti is the firstDHSUD-BALAI-funded project in the NCR and is part of Pag-IBIG Fund’sCountryside Housing Initiative. The CHI brings together project proponentsto bring quality and affordable housing projects to more Filipinos, as wecontinue to implement our nation’s shelter program as led by President
Rodrigo Duterte,” said DHSUD Secretary Eduardo D. del Rosario, who alsochairs the 11-member Pag-IBIG Fund Board of Trustees.
Pag-IBIG Fund established the Countryside Housing Initiative or CHI in 2017as a strategy to provide better access to homes for its members throughpartnerships with government and private institutions, employers, and otherorganized groups. Such partnerships reduce costs in building the housingprojects and provide the beneficiaries with homes that are much moreaffordable compared to similar projects.
“If you notice, the units in the BALAI Munti normally costs about P1.2 millioneach. But since this project is under our Countryside Housing Initiative,beneficiaries can buy units there for only P750,000. That’s the major benefitof CHI. Because of the partnerships we create, we are able to save onadditional costs like marketing and promotions for a housing project. Thisthen leads to a quality home that is more affordable than what’s available inthe market,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P.Moti.
He added that since 2020, despite the pandemic, Pag-IBIG Fund has beenable to sign partnerships worth P1.08 billion with nine different LGUs andinstitutions all over the country through the CHI, which shall bring 3,638housing units for their respective beneficiaries.
“With CHI, our main target is to bring development and provide better accessto homeownership for our members in areas in the countryside. We arehappy that we are able to apply the same strategy in bringing affordablehomes for our members residing in cities such as Muntinlupa. We shallcontinue to do our best in partnering with more organizations so that we canprovide more affordable homes to members, wherever they choose to live,”Moti said.
