Talks open for potential 4PH project in Subic Bay

Published on 03 June 2024

MAKATI CITY – The Social Housing Finance Corporation (SHFC) has opened discussions with the Subic Bay Metropolitan Authority (SBMA) regarding a potential collaboration to develop a new housing project under the national government’s Pambansang Pabahay Para sa Pilipino Housing (4PH) Program within the Subic Bay Freeport Zone.

During a meeting at the SHFC Head Office in Makati City, SBMA officials presented plans for a four-building, 15-story vertical housing complex situated in Subic’s Central Business District. The proposed development enjoys a central location between bodies of water, and is close to hotels, hospitals, and other government, commercial, and transport facilities. This proximity will provide future residents easy access to workplaces, amenities, and various economic opportunities. Approximately 1,300 families, particularly those in low-income brackets, may qualify as beneficiaries.

“The primary objective of this project is to create safe and secure housing that meets the needs of our beneficiaries,” stated SHFC President and CEO Federico Laxa, who presided over the discussions. This recent development results from the signing of a Memorandum of Understanding between the Department of Human Settlements and Urban Development (DHSUD) and SBMA on May 22, 2024, and adds to SHFC’s pipeline of 4PH projects to address the country’s massive housing gap.

Key attendees at the meeting included DHSUD Undersecretary Emmanuel Pineda, Mr. Prandy Vergara (SHFC’s Officer-in-Charge of 4PH projects in Central Luzon), SBMA Directors Kenneth Rementilla and Jose Mari Ponce and Ms. Amethya Dela Llana, Officer-in-Charge of the SBMA Office of the Senior Deputy Administrator.

Both SHFC and SBMA, as government-owned and -controlled corporations, aim to leverage public resources to provide quality and affordable government housing options for the public.