The National Home Mortgage Finance Corporation (NHMFC) formally signed a Memorandum of Agreement with Baque Corporation in collaboration with the Local Government Unit of Biñan City, Laguna that will kickstart the government’s Pambansang Pabahay Para sa Pilipino Housing (4PH) Program in the Southern Tagalog Region through the construction of the Verida housing project in this city.
NHMFC President Renato L. Tobias expressed his appreciation to the Biñan City LGU led by Mayor Arman Dimaguila and Baque Corporation President Dr. Ofelia Baque and Chief Operating Officer Angelie Tan for this housing partnership.
“This coming together is the beginning of the cooperative efforts of the national government, private entities and local government unit to provide decent and affordable shelter for the Filipino families,” President Tobias said. He emphasized that under the 4PH, the LGUs and private sectors play a big and vital role to achieve the government’s aim to build one million housing units per year.
In his message, Mayor Dimaguila committed that as their contribution to the 4PH, the Biñan City LGU will efficiently release all the needed permits.
Under the agreement, NHMFC will purchase up to Php2 Billion peso-worth of housing loan receivables from Baque Corporation’s residential housing projects.
Verida Residences, a 10-storey condominium with 220 units per building, is the first participation of Baque Corp. and the City of Biñan to the administration’s 4PH Program. It is projected to be completed by end of 2024. This will be taken out under NHMFC’s Housing Loan Receivables Purchase Program (HLRPP). NHMFC is the country’s only secondary mortgage institution under the umbrella organization of the Department of Human Settlements and Urban Development (DHSUD) led by Secretary Jose Rizalino Acuzar who also sits as Chairman of the NHMFC Board of Directors.
DHSUD Region IV-A Director Atty. Jan Roby Otero, who represented Secretary Acuzar during the signing, said that 4PH is not only a program, but a strategy and technique using all the resources of the stakeholders, and the brilliant minds of the government and private sectors in order to build a project. He lauded NHMFC’s discreet efforts to deliver the 4PH program in Southern Tagalog. “Among all the key shelter agencies, NHMFC is the first to deliver under DHSUD’s 4PH Program in the Southern Tagalog Region,” Atty. Otero remarked.
The construction of the Verida will be done simultaneously with the construction of the Biñan Central Square (BCS) which will likewise house government offices such as NHMFC, DHSUD, Pag-IBIG Fund, Social Housing Finance Corporation (SHFC), GSIS, LRA, LTO, DFA, BIR, NBI and PNP.***