Growing interest of private partners shifts 4PH rollout to high gear

MANILA – The increasing interest of private partners, particularly contractors and developers, has shifted to high gear the nationwide roll out of President Ferdinand R. Marcos Jr.'s Pambansang Pabahay para sa Pilipino (4PH) Program.

With the participation of more private partners, Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar said more 4PH projects will be launched soon.

About 40 projects, mostly composed of high-rise condominium-type buildings, are currently in various stages of development and construction throughout the country.

"Ngayong dumadami na ang ating private partners, tiwala ako na tuluy-tuloy na ang ating mga proyekto at lalong dadami pa (Now that our private partners are increasing, I am confident that our projects will continue and will increase even more)," Acuzar said in a news release on Sunday.

"Ito (private participation) po ang nakikita namin na susi upang ma-address natin ang housing backlog ng di umaasa sa national budget (We can see that this private participation is the key to address our housing backlog without relying on national budget)," he added.

Acuzar attributed the growing interest of private contractors and developers to the 4PH Program to the continuing releases of developmental loans by Pag-IBIG Fund.

So far as of May 24, Pag-IBIG Fund has released a total of PHP761 million to private contractors implementing 4PH projects in the provinces of Nueva Ecija, Bulacan, Ilocos Norte and Bacolod City.

Pag-IBIG Fund, headed by Chief Executive Officer Marilene Acosta, has committed PHP250 billion to the "Pambansang Pabahay."

Among the latest private contractors to join 4PH was Megawide Construction Corp., whose real estate arm PH1 World Developers was tapped by the Imus City local government as partner in the implementation of its 4PH project recently launched in Barangay Malagasang 1-G.

"Patunay ito na (This proves that) we are on the right track. The President's wish to help the poorest of the poor is now gaining more support from the private sector," Acuzar said.

"Kaya kami po sa DHSUD ay tuluy-tuloy sa pagta-trabaho upang matulungan ang mas maraming kababayan na patuloy na nangangarap na magkaroon ng disente at abot-kayang tahanan (That's why we at DHSUD continue to work to help more citizens who continue to dream of having a decent and affordable home)," he added. (PR)