Phinma enters socialized housing

Phinma Corp. will venture into the socialized housing sector this year, with two projects already in the pipeline, in a bid to help address the country’s housing gap and shift its focus away from the still challenging mid-income market.

Phinma chair and CEO Ramon del Rosario Jr. told reporters on Monday that the housing projects would rise in Davao City and Bacolod City. Prices will range from P750,000 to P800,000 per unit.

Under Pag-Ibig’s Affordable Housing Program, a qualified Pag-Ibig member may apply for a housing loan of up to P750,000, which will be based on the lowest of either the member’s actual need, desired loan amount or loanable amount.

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While estimates as to the total scale have yet to be disclosed, Del Rosario said the Davao project would consist of around 200 housing units.

“We’re calling it community housing, so that it’s not just physical homes … the idea there is to put some of the basic necessities that families need, such as daycare center, skills upgrading facilities, even employment opportunities,” Del Rosario said on the sidelines of the Financial Executives of the Philippines 2025 induction ceremonies.

Del Rosario added that they would partner with nongovernment organizations such as Gawad Kalinga to develop the community housing projects. The CEO made the announcement amid a housing crisis affecting “millions of Filipino families, with many still living in subhuman conditions.” —Meg J. Adonis