Today’s Report – Housing Czar pushes for Pag-IBIG’s 70% investment in housing.

February 5, 2009

Vice President and concurrent Housing and Urban Development Coordinating Council (HUDCC) chairman Noli ‘Kabayan’ de Castro thanked the two Houses of Congress for pushing the amendments in the Charter of the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund.

The Charter amendments seek to strengthen not only the Pag-IBIG Fund but the entire housing sector as well. He noted that the draft bills approved by the two Houses of Congress would restore the tax-exempt privilege of the Fund and authorize the board to set the contribution rates of members resulting in additional funds for the benefit of Pag-IBIG members.

However, De Castro objected to the deletion of the provision in the Pag-IBIG Fund’s existing Charter stating it should “invest not less than 70% of its investible fund to housing.” “Housing is one sector with a big multiplier effect on the economy.

Every P1 million invested in housing translates to P16.6 million of economic activity in the country. At this time of the global financial crisis, we need to put our funds on industries that would stimulate the economy and create more jobs for our people,” De Castro said.

He urged Congress to restore the said provision to realize the prospective law’s objectives of providing the Filipino citizens with sufficient shelter through the mobilization of funds for shelter finance.

De Castro’s call for the restoration of the above provision is consistent with his recent announcement that the Pag-IBIG Fund is putting in at least P82 billion as part of the stimulus package being worked out by the Arroyo Administration. Of this amount, 70% or about P57.4 billion would be invested in housing. (from the newsroom of Pag-IBIG Fund website)

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Real estate sector sees bright prospects in Davao

December 6, 2008

Despite the economic slowdown in the global market, a major real estate player is anticipating bright prospects in Davao next year.

Maryline Lim, general manager of Samantha Homes said there is a large housing need in Davao City saying that the company is targeting the medium level market.

She said the newest Samantha Homes project is at Bago Gallera where they enrolled as Pag-IBIG City of over 800 units. The site she said will include playground and multi-purpose hall that will later be turned over to the homeowners association.

She said their company caters to employees, the overseas Filipino workers and the self-employed.

The subdivision features include water facility sourced out from the Davao City Water District, an overhead transmission lines provided by the Davao Light and Power Company, underground drainage and concrete roads with curbs and gutter.

But Lim said they don’t just build houses because they see to it that they would also introduce some new designs in their projects.

In the pipeline next year she said is the 400 units project in Panabo City.

All in all she said to include the new projects, Samantha Homes house and lot units accounted to 3,120.

Their other projects are found in Matina Aplaya, Barangay Lizada in Toril, Paligue in Padada, Davao del Sur, Catalunan Pequeno, Catalunan Grande.

Lim said they are careful with the supervision of the project because of the “buy back” policy ofPag-IBIG Fund.

She said Pag-IBIG Fund for that matter pay particular attention to project development including the first years of repayments of homebuyers.

She said they do not want also to be remiss of their responsibilities saying that they need to comply what has agreed between them and Pag-IBIG Fund.

“What Pag-IBIG Fund had invested are the funds of the members and we make good of our investment because these are money of the Fund members,” she said.

Lim however stressed that they reach out to their homebuyers in order for them to make good of their repayment record.

She said with the reduced interest rates extended by the Pag-IBIG Fund the rebate extended to homebuyers who are “good payors,” now owning a house is very affordable.

Meanwhile Davao City Investment and Promotion Center head Engr. Roberto Teo expressed good prospects for real estate in 2009.

Teo in a separate interview said real estate will continue to pick up in Davao City next year.

He said a new subdivision project with investment of P120 million will commence next year.

He also said that constructions of two the big investments on real property are on-going while developers of new condominium projects have already shown keen interest for new construction here. These are in addition to the DMCI condominium and that of the Filinvest development


Halloween Trick or Treat @ Pag-IBIG Fund

November 11, 2008

Huling Hirit from Cotabato Branch …. (save the best for last) …. they’re not disturb by any conflict as they make peace to everyone including the ghosts and here they are with their costume parade … (thanks Liz for the photos buti na lang may friendster … tnk u !)cotabatokidsfashowcokidscotabatokids3cotabatokids4cotabatokids6cotabatokidssittingcotkids8cotkids9cotkids10cotkidsboycotgroup1cotgirldatkawacotconferencecotgroup5cotgroup6cotabatoskullcotabatospider2cotadultcoffincotchaincotgroupvisitcotguycoffincothangedcotabatocoffin3cotclown1cotkidsgirl


Halloween Trick or Treat @ Pag-IBIG Fund

November 3, 2008

Presenting the Tagum City Branch …. (Thanks for the fotos Bam !)


Halloween Trick or Treat @ Pag-IBIG Fund

November 1, 2008

They have it too in General Santos City Branch … here are some fotos sent by ayen (thanks!)

General Santos City


Halloween “Trick or Treat” @ Pag-IBIG Fund

October 31, 2008

admin1admin2Meet the winners …. (Admin & Accounting of Davao Branch)


Today’s news — Revised zoning ordinance

October 20, 2008

Davao City is expected to have its revised Zoning Ordinance by the first quarter of 2009.

This was said by Majority Floor Leader Councilor Danilo Dayanghirang during the Kapehan sa Dabaw at SM City who also added that the Committee on Housing headed by Councilor Arnulfo Cabling and City Planning Head Engr. Ma. Luis Jacinto still have to come up with a decision on the complaint filed by Ma-a residents against real property developers Villar and Consunje who owns the high-end properties in the area.

The issue, he said was due to the complaint about development in the area which the residents said is without permit.

He said the ordinance already went to several adjustments and it is high time for the ordinance be reviewed.

Davao City‘s revised zoning ordinance was passed in 1996 and enacted in 2002. The zoning code regulates the use of the city’s land resources in the implementation of the Comprehensive Development Plan of Davao City. It is supposed to be updated every five years.

The updating of the Comprehensive Development Plan and Zonification Ordinance of Davao City is actually a priority project of the 15th City Council (2007-2008).

The purposes of the Revised Zoning Ordinance of 1996 capture this need for balance: to guide, control and regulate future growth and development of Davao City in accordance with its Comprehensive Development Plan; and to promote and protect the environment, health, sanitation, safety, peace, comfort, convenience and general welfare of the inhabitants in the locality.

Meanwhile Councilor Pilar Braga said that they deemed it proper that before development permit is granted they should get a clearance from the traffic management.

She said in the case of property development like malls, traffic plans are already done before the construction of the mall kaya late na. “We will review also the traffic ordinance,” she sai