Vice
President and concurrent Housing and Urban Development Coordinating
Council
(HUDCC) Chairman Noli ‘Kabayan’ De Castro yesterday lauded private
developers
and the Home Development Mutual Fund (HDMF) or Pag-IBIG for
implementing the
city Medium/High Rise Building (MHRB) program.
The
program, according to De Castro, is designed to suit the need of
Filipinos for
affordable and low-cost housing within the cities of Metro Manila.
Yesterday,
De Castro led the inaugural ceremonies for two medium high-rise housing
projects in Quezon City
and Caloocan
City.
In both occasions, the housing
czar thanked the Pag-IBIG fund and private developers who are making it
easier
and faster for the government to pursue its national shelter program.
“Sa
tulong po ng HDMF at lalu na ng private developers, napapadali ang
implementasyon ng pambansang programa sa pabahay. Dahil po sa kanila,
natutupad
ang pangarap ng ating mga mahihirap na kababayan na magkaroon ng
sariling
bahay,” De Castro said.
Funded
by the HDMF and developed by the San Jose Builders Corp., the Theresa Towers
along P. Tuazon St.,
Cubao, Quezon City
has 200 condominium units, 80 percent of which were already sold.
The
project boasts of its proximity to the Cubao MRT station and, most
importantly,
its very friendly monthly amortization of P6,500 per month.
In
Camarin, Caloocan
City,
De Castro welcomed
the response of Fortune Star Construction and Development Corp. (FSCDC)
to his
earlier call for more active private sector participation in the
housing
industry.
“We
in the government recognize that housing, to be truly successful, must
be
private sector-driven. That’s why it has been the policy of this
administration
to create an environment that will encourage private developers to
initiate
projects that will meet the needs of our countrymen,” De Castro said.
Fortune
Star Construction and Development Corp. is the developer of Fortune
Star City
Condominium, a 300-unit medium rise building funded by HDMF and the
Asiatrust
Bank for low-income earners.