Pag-IBIG Fund, SMDC ink deal to offer preferential pricing under Expanded 4PH programme
Pag-IBIG Fund and SM Development Corp. signed an MoU on 8 Sept to expand the range of SMDC homes available through Pag-IBIG Housing Loans. The partnership, under President Marcos' Expanded 4PH programme, includes preferential pricing on selected units and buyer education programmes.
Pag-IBIG Fund and SM Development Corp. (SMDC) signed a memorandum of understanding on 8 Sept to widen the range of SMDC homes that qualified members may purchase using Pag-IBIG Housing Loans. The MoU also covers preferential pricing on selected units, buyer education and planned homebuyer programmes.
The partnership advances efforts by the Department of Human Settlements and Urban Development (DHSUD) and Pag-IBIG Fund to strengthen private-sector participation under President Ferdinand R. Marcos, Jr.’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Programme. These efforts make projects from more of the country’s leading developers available through Pag-IBIG financing, giving members, particularly middle-income Filipino workers, greater access to quality, well-located homes.
DHSUD Secretary Jose Ramon P. Aliling, who also chairs the Pag-IBIG Board of Trustees, said SMDC’s participation shows how the agency’s expanded and affordable financing is translating into wider home choices for members. “The direction of President Ferdinand R. Marcos, Jr. is clear. We want more Filipino workers and their families to have a real opportunity to own a home in the city, particularly one closer to where they work,” Mr Aliling said.
Under the MoU, SMDC will offer preferential pricing to qualified Pag-IBIG Housing Loan borrowers on selected units in participating Pag-IBIG-accredited projects. The current accredited selection includes Coast Residences and ICE Tower in Pasay City, Spring Residences in Parañaque City, selected phases of Hill Residences in Quezon City, and SMDC Cheerful Homes 1 and 2 in Pampanga. SMDC is also working to broaden the selection, with additional developments in Makati City, Mandaluyong City, Pasay City and other growth areas undergoing Pag-IBIG accreditation.
“Homeownership is too important for any one institution to address alone. Making it more attainable requires strong partners with a shared commitment to Filipino families,” said Jeffrey C. Lim, president of SM Prime and SM Development Corp. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the partnership strengthens the agency’s efforts to make suitable homes more affordable for members. “Our promotional rates of 4.5% on loans of up to P4.9 million and 5.75% on loans above P4.9 million and up to P10 million make financing their chosen home even more affordable and are available to qualified borrowers until the end of the year,” Ms Acosta said.
