More than 100 Naga City government employees have begun their journey to homeownership through a housing partnership between Pag-IBIG Fund and the City Government of Naga, with the first turnover of units taking place on August 18 at BellaVita Naga in Barangay Pacol.
The Naga City Employees’ Housing Project initially covers 576 homes, each priced at P350,000. Qualified employees may finance their purchase through Pag-IBIG Housing Loans at a subsidized interest rate of 3% per annum for the first five years under the Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program.
Naga City Mayor Maria Leonor “Leni” G. Robredo said the initiative responds to a long-standing need among city employees, particularly those in lower salary grades and first-time homebuyers.
“For many years, it has been our aspiration to provide housing opportunities for our city government employees, but affordability has always been a challenge, especially for those in the lower salary grades. Through our partnership with Pag-IBIG Fund and BellaVita, that aspiration is now becoming a reality. With Pag-IBIG Fund providing affordable financing terms and a subsidized 3% interest rate, we were able to make homeownership possible for employees who previously could not afford it,” Robredo said.
The project has moved quickly since the signing of a memorandum of understanding between Pag-IBIG Fund and the City Government of Naga in mid-June. More than 100 housing loan accounts have already been taken out, with the city government hoping to complete the takeout of all 576 units by October.
Under the partnership, Pag-IBIG Fund, Naga City and BellaVita established a government-to-government documentation arrangement to streamline loan processing and facilitate the turnover of homes to qualified employee-beneficiaries.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the project demonstrates how government and the private sector can work together to expand access to affordable housing.
“We continue to heed President Marcos’ direction to widen access to affordable homeownership for working Filipinos, including government employees who devote their careers to public service. What we are seeing in Naga shows how this direction can be translated into actual homes when a local government identifies the needs of its workforce and government institutions align housing delivery and affordable financing around those needs,” Acosta said.
The initiative also builds on Pag-IBIG Fund’s collaboration with Ayala Land, including a recent memorandum of understanding with residential brands Avida and Amaia to broaden housing choices and financing options for Filipino workers.
“We thank Mayor Leni Robredo and the City Government of Naga for working hand in hand with Pag-IBIG Fund to make this possible. For us, partnerships should lead to more than agreements on paper. What matters most is seeing our members receive the keys to homes of their own and knowing that, through our shared efforts, more Filipino families are gaining the security and opportunity to build better lives,” Acosta added.
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