The Development Bank of the Philippines (DBP) has formalized a ₱2 billion credit facility for PH1 World Landscapes Inc. to bolster the government’s flagship affordable housing strategy.
This financial injection is earmarked for the construction of 8,360 residential units under the Pambansang Pabahay Para sa Pilipino Housing (4PH) program, a national initiative aimed at narrowing the country’s housing gap.
DBP President and Chief Executive Officer Michael de Jesus emphasized that the capital will accelerate project timelines in key urban areas, specifically Caloocan City and the Cavite cities of Imus and Bacoor.
Beyond addressing the shelter shortage, the bank estimates the development will generate approximately 1,000 jobs for the local workforce.
Under the 4PH program, eligible Filipinos seeking socialized housing can benefit from a significantly reduced financial burden.
The program features a specialized interest rate structure:
- Subsidized Rate: 3% annual interest.
- Duration: Applicable for the first ten years of the loan term.
PH1 World Landscapes operates as a real estate subsidiary of the Megawide Group, the engineering giant responsible for high-profile infrastructure like the Mactan-Cebu International Airport and Clark International Airport’s newest terminal.
This latest credit line follows a similar move by the Pag-IBIG Fund last July, which invested ₱10 billion into another Megawide subsidiary, Megawide Dreamrise Residences Inc., to deliver an additional 7,000 affordable homes.