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Friday, March 29, 2024

Housing for the underprivileged

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Housing for the underprivileged

Residents of Barangay San Ignacio, Plainview in Mandaluyong (Shown in photo) are looking forward to MCA Homes, a joint venture project between CDC Homes Development & Ventures Inc. (CDC Homes), an affiliate of CDC Holdings, and the City Government of Mandaluyong. Set to rise on a 348-sqm land in Plainview, MCA Homes offers decent homes at an affordable cost, and provides basic services to the underprivileged and the homeless in urban areas. The project will be offered to priority buyers of San Ignacio and to families to be affected by the Pantaleon-Estrella Bridge renovation, as well as to minimum-wage Pag-IBIG members of the barangay. Payments are made with subsidized interest rates for socialized housing units through Pag-IBIG’s affordable housing program, extending a 3% interest rate for the initial five years of the payment term of minimum wage Pag-IBIG Fund members whose income does not exceed Php 15,000 per month if working in NCR, and Php 12,000 per month if they are working in the regions. For units beyond the socialized housing package, a 6.375% per annum will be charged through Pag-IBIG’s regular end-user financing. Scheduled to be completed in 16 months-time, MCA Homes is CDC’s first foray into socialized housing. With the residents are (left to right): CDC Holdings president and CEO Elsie Chua; Mandaluyong Mayor Carmelita “Menchie” Abalos, and Pag-IBIG Fund senior vice president for lending operations Fermin Sta. Teresa.

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