Local government units (LGUs) are forming partnerships with private companies to provide decent and affordable housing.
An example is Bistekville II, a housing project in Barangay Kaligayahan, Novaliches, formed through a tie-up with the Quezon City government and Phinma Properties, the property development arm of Phinma Inc.
As of June 2014, 405 underprivileged families have already moved to Bistekville II. Phinma Properties has constructed 616 one-story with loft units and 78 condo units.
Built on a 4.4-hectare land, the project aims to construct 1,078 mixed housing units — consisting of 703 one-story with loft units and six three-story medium rise buildings, with 375 condo units.
A housing unit in Bistekville II can be availed of by any Quezon City underprivileged family. The monthly payment is as low as P2,500, payable in 30 years, depending on income and age.
This year, Phinma Properties will also launch another housing project in partnership with an LGU — the Strikeville 4 located at Mambog, Bacoor, Cavite.
source: Manila Bulletin
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