Pag-IBIG Fund, Rockwell Land tie up to widen housing loan options
Pag-IBIG Fund has partnered with Rockwell Land Corp. to expand housing financing options, initially covering two accredited projects in Santo Tomas, Batangas. The partnership includes preferential pricing for members and seeks to serve middle to higher income segments.
The Home Development Mutual Fund (Pag-IBIG Fund) has partnered with Rockwell Land Corp. to make more residential properties eligible for financing under the government's housing loan programs. The agreement initially covers Stonewell Acacia Homes and Stonewell Mahogany Homes in Santo Tomas, Batangas, which have been accredited by Pag-IBIG Fund.
Two other developments in Lipa, Batangas, are undergoing accreditation: Stonewell Molave, which offers house-and-lot units starting at P950,000, and Terreno South, where residential lots are priced from P4 million to P7 million, Pag-IBIG Fund said in a statement on Tuesday.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said Rockwell Land would identify residential projects and housing units that could be offered to qualified members, subject to the fund's financing requirements. Under the agreement, Rockwell Land will offer preferential pricing and other incentives to eligible Pag-IBIG Fund members, while the fund will provide housing financing, loan counseling, and assistance.
The two parties will also coordinate on information campaigns and activities intended to inform members about available housing options. The partnership forms part of Pag-IBIG Fund's efforts to broaden the range of properties available to borrowers under its housing financing programs, including the Expanded Pambansang Pabahay Para sa Pilipino (4PH) Program.
Rockwell Land is also seeking accreditation for Stonewell Anahaw Homes in San Antonio, Quezon, where completed house-and-lot units are priced starting at P2 million. Other developments being considered for accreditation include The Grove in Pasig City, The Arton in Quezon City, Fordham and Larsen Towers in Sucat, Muntinlupa City, and BenCap in Angeles City, Pampanga.
Pag-IBIG Fund Deputy Chief Executive Officer Alexander Hilario G. Aguilar said the agency was seeking to expand its developer partnerships to serve borrowers across different income segments. "This is Pag-IBIG's attempt to address all sectors and segments. We have partnered with Rockwell, Ayala, SMDC, and Filinvest to tap the middle, upper middle income, and higher income segments," Mr. Aguilar told reporters on the sidelines of the signing ceremony on Tuesday.
He said Pag-IBIG Fund was also seeking partnerships with other property developers, including DMCI and Federal Land, with additional announcements expected this week. Rockwell Land President and Chief Operating Officer Valerie L. Soliven said the company would participate in the National Housing Expo as part of the partnership.
