LGUs tie up with private companies to provide more affordable homes

MANILA, Philippines - Local government units (LGUs) are forming partnerships with private companies to provide decent and affordable housing for underprivileged families.

An example is Bistekville II, a housing project in Brgy. Kaligayahan, Novaliches, formed through a tie-up with the Quezon City government and Phinma Properties, the property development arm of the Phinma conglomerate.

As of June 2014, 405 underprivileged families have already moved to Bistekville II. Phinma Properties has constructed 616 one-story with loft units and 78 condo units.

Built on a 4.4-hectare land, the project aims to construct 1,078 mixed housing units — consisting of 703 one-story with loft units and six (6) three-story medium rise buildings, with 375 condo units.

A housing unit in Bistekville II can be availed of by any Quezon City underprivileged family. The monthly payment is as low as P2,500, payable in 30 years, depending on income and age.

According to Eric M. Soriano III, a faculty member of the Ateneo Graduate School of Business where he serves as the program director for real estate, the approach used in the Bistekville II housing project is a good way to help solve the country’s housing problems.

“Relocating people away does not exactly solve the problem but only worsens the situation with heated debates, quarrels and even violations of human rights. Most informal settlers are there because they have no other choice and their jobs are in the city. So the approach should be constructive and transformative, providing decent shelter and access to economic opportunities like in Bistekville II,” he said.

This year, Phinma Properties will also launch another housing project in partnership with an LGU — the Strikeville 4 located at Mambog, Bacoor, Cavite. The project aims to build several three-story medium rise buildings with 2,043 condo units. For inquiries, please contact Phinma Properties at (+632) 535-6800 / (+63) 917-535-6800 or e-mail at [email protected]. Also visit their website at www.phinmaproperties.com .