DBP Extends PHP815-Million Loan for Mass Housing Development in Bulacan

State-owned Development Bank of the Philippines (DBP) has extended a PHP815-million term loan to Bright Homes & Realty Corporation, a 30-year-old housing firm specializing in affordable mass housing development. The funding assistance is under the 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. The three residential buildings, set to rise in Sta. Maria, Bulacan, will benefit around 900 individuals from the low and middle-income classes.

Key Takeaways:

• DBP extended a PHP815-million term loan to Bright Homes & Realty Corporation for the construction of three residential buildings in Bulacan province.
• The funding assistance is under the Credit Facility for the 4PH Program (BAHAY-4PH), designed to mobilize resources for the 4PH Program of the Marcos administration.
• The proposed residential buildings will benefit around 900 individuals from the low and middle-income classes.
• The DBP BAHAY-4PH program aims to provide financing to LGUs, housing developers, and contractors participating in the 4PH program.
• DBP President Michael de Jesus stated that the bank will be more aggressive in seeking partners for the BAHAY-4PH program and help expedite the creation of more sustainable and inclusive communities.
• DBP aims to release PHP50-billion in loans under the program by the end of 2030.

Statistics:

• PHP815-million term loan extended to Bright Homes & Realty Corporation.
• PHP50-billion in loans to be released under the BAHAY-4PH program by the end of 2030.
• 3 residential buildings to be constructed in Sta. Maria, Bulacan.
• 900 individuals to benefit from the project, primarily from the low and middle-income classes.

Sources:

• Philippines News Agency