Pag-IBIG gives out higher socialized housing loan by 22%
Government agency Pag-IBIG, or the Home Development Mutual Fund (HDMF), has released a 22% increase in socialized housing loans for the first half of the year.
The agency gave out PhP4.859 billion from January to June compared to the PhP3.788 billion extended the same period last year.
“The main driver of socialized housing is compliance among developers. They allot 15 percent of their development projects as socialized housing. This in turn helps low-wage and minimum wage earner (sic)—the underserved sector—acquire a home of their own,” HDMF CEO Acmad Rizaldy Moti said.
The socialized housing loans given by the agency are between PhP300,000 to PhP450,000 [2].
DMCI Homes’ earnings rise by 41% in H1
Due to a strong demand of properties both in the metro and in the provinces, property developer DMCI Homes’ net income grew by 41 percent in the first six months of 2018.
The developer’s net income for the first half of the year was recorded at PhP2.49 billion, a significant jump to the PhP1.76 billion earned a year ago.
DMCI Homes president Alfredi Austria has stated that buyers are piqued by the company’s developments.
“Our pioneering resort-style developments have gained a strong following among buyers. There is [a] healthy demand for our projects in Metro Manila, and even in Davao and Baguio,” he said.
The developer’s reservation sales have also risen by four percent to PhP23 billion [3].
Sources:
[1] https://bit.ly/2E5dQ1x
[2] https://bit.ly/2Qz8WLC
[3] https://bit.ly/2QDz0Fp