Photo taken from 8990 Housing Development Corporation’s official website
DAVAO CITY, Philippines – Deca Homes developer 8990 Housing Development Corporation (8990 HDC) is projecting to deliver P1.6-billion worth of socialized housing units in this city, an official said Thursday, September 14.
Mary Ann T. Chua, 8990 HDC general manager, said the company is confident to hit the target saying that as of August it has completed takeout housing loans worth P835 million.
“The challenge now is on the part of the buyers,” Chua told Davao Today in an interview.
8990 HDC, a subsidiary of publicly-traded 8990 Holdings Incorporated, is behind the mass housing projects in Mandug, Cabantian, Mintal, among others, under the Deca Homes brand.
Chua was referring to the members of state-owned Home Development Mutual Fund (Pag-IBIG Fund), whose accounts are often challenged by expired documents.
In Mindanao, Pag-IBIG aims to close 2017 with P8.57 billion worth of socialized housing loans granted to its members here. For the first half of 2017, the island region has recorded a P3.2 billion loan value takeout which has benefitted 3,951 families.
Pag-IBIG Fund OIC Senior Vice President Benjamin R. Felix said they recognize the growth in Mindanao thus the target. Pag-IBIG Mindanao still needs to catch up with the remaining P5.37 billion loan takeouts so it could reach the agency’s projection.
But Chua remains optimistic, as she said there are other developers who help achieve the said target.
“Mindanao is experiencing a boom in construction,” she added.
The state-run housing agency is looking at Mindanao’s top developers, of which 15 of them were recognized here Thursday for the socialized housing units they have afforded to Pag-IBIG members.
Apart from 8990 HDC, among them include Butuan-based VCDU Realty Corporation, General Santos-based Agan Land Corporation, Cagayan de Oro-based Jukens Builders and Trade, among others. (davaotoday.com)
