State-owned Development Bank of the Philippines (DBP) has extended a P815-million term loan to a mass housing developer for the construction of three residential buildings in Bulacan, heeding calls from President Marcos to broaden support to the housing sector, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said the Bank’s funding assistance to Bright Homes & Realty Corporation is under its Credit Facility for the 4PH Program (BAHAY-4PH) specifically designed to mobilize resources for the Bagong Pilipinas – Pambansang Pabahay para sa Pilipino (4PH) Program of the Marcos Administration.
“DBP’s funding support is consistent with its thrust of promoting social services and community development, as well as to realize the vision of President Ferdinand Marcos Jr. of providing decent and affordable housing for our countrymen, especially those with limited financial resources,” de Jesus said.
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
Bright Homes & Realty Corporation is a 30 year-old housing firm and specializes in affordable mass housing development. Its proposed three residential buildings will rise in Sta. Maria, Bulacan and benefit around 900 individuals, primarily from the low and middle-income classes.
De Jesus said that the DBP BAHAY-4PH Program is designed to provide financing to local government units (LGUs), housing developers and contractors participating as project proponents in the 4PH Program, which aims to address the country’s housing needs.
He said DBP remains committed to the National Government’s goal of constructing one million housing units annually until 2028, by addressing the issue of lack of viable financing options for aspiring home owners through productive collaborations with relevant housing sector stakeholders.
“DBP will be more aggressive in seeking partners for the BAHAY-4PH program, especially private developers and LGUs, and help expedite the creation of more sustainable and inclusive communities across the country,” he said, adding that the Bank is eyeing to release P50-billion in loans under the program by the end of 2030.
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