A CEBU-BASED real estate company has tied up with the government to be able to achieve its vision of providing Filipinos with quality yet affordable houses.

AboitizLand, which has been known to develop middle- to high-end residential projects in Cebu, has also created a new division named Cornerstone to specifically cater to the housing needs of the middle-income sector.

AboitizLand chief executive officer Roberto Aboitiz said AboitizLand's partnership with the Home Development Mutual Fund (HDMF), otherwise known as the Pag-ibig Fund, would enable the company to build more middle-income range house and lot units.

"We had residential projects before for the middle-income market, but these were lots only or units only. This time, we will provide house and lot units at an affordable cost and financed by Pag-ibig. This pursuit shows our response to a long-felt need for shelter and also in support of the government's effort of providing better quality homes to more Filipinos," he said on the sidelines of the signing of the memorandum of agreement (MOA) between Pag-ibig and AboitizLand at the Laguna Garden Café yesterday.

In the same event, Housing and Urban Development Coordinating Council (Hudcc) Secretary Michael Defensor said the government has been working with the private sector for the administration to realize its long-term plan of providing houses to the country's estimated four million "homeless families."

Squatters

"There are a lot of Filipinos who are just renting and squatting on other territories. They do not have security of tenure on the places they are in. The government wants to provide them with their own home. And we are working with the private sector, addressing their concerns so that together, we will be able to achieve the government's vision," he said.

Pag-ibig is under the administration of the Hudcc.

Under the MOA, Pag-ibig's partnership with AboitizLand entails the government's commitment to open a funding commitment line (FCL) amounting to P12.7 million for eligible Pag-ibig member-buyers of AboitizLand's Cornerstone developments.

Defensor said the private sector had committed to build some 500,000 house and lot units in two years' time. Some developers have partnered with Pag-ibig in their financing schemes, while others have partnered with banks.

First project

Meanwhile, Cornerstone launched its first project, Briza, in Consolacion, Cebu yesterday. Briza will have 231 house and lot units, said Aboitizland chief operating officer Andoni Aboitiz.

He said the company's new division had two more projects in the pipeline this year aside from the residential project in Consolacion.