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13,000 houses for sale at Pag-IBIG fair starting Friday

By Jerry E. Esplanada
Philippine Daily Inquirer
First Posted 17:49:00 09/30/2010

Filed Under: Real Estate, Housing Mortgage & Loans

MANILA, Philippines -- More than 13,000 affordable housing units will be offered to Pag-IBIG Fund members during the three-day National Housing Fair, which opens on Friday at SM Megamall in Mandaluyong City.

This was announced on Thursday by Vice President Jejomar C. Binay, also chair of the Housing and Urban Development Council (HUDCC).

The pieces of properties to be offered are located in Metro Manila, Rizal, Bulacan, Cavite, and Laguna.

"The fair will help our countrymen, especially minimum wage earners, government employees, the self-employed and OFWs obtain affordable houses," said Binay.

The available house-and-lot units are part of the "acquired assets inventory" of the HUDCC-attached agencies like the Pag-IBIG Fund, Home Guaranty Corp., National Housing and Mortgage Finance Corp., Social Housing Finance Corp., National Housing Authority, and the Housing and Land Use Regulatory Board.

Other participating agencies include the state-run Social Security System, Government Service Insurance System and the Bangko Sentral ng Pilipinas.

The government agencies would be joined by private sector housing institutions, such as the Subdivision and Housing Developers Association, Inc., Chamber of Real Estate Builders Association, National Real Estate Association, and the Organization of Socialized Housing Developers of the Philippines.

During the event, new building products and technologies, like fiber boards and roofing materials, will also be showcased by the Accreditation of Innovative Technologies.

Since 2006, HUDCC has been holding the annual Housing Fair every October in observance of "Shelter Month." It has since sold a total of 32,346 housing units worth P10.48 billion.

The housing fair comes in the wake of irregularities in the use of Pag-IBIG funds for a housing project of Globe Asiatique (GA), which is being investigated by Binay?s office and Congress.

The Philippine Daily Inquirer, in an exclusive report, detailed how GA was able to gain access to billions of pesos of Pag-IBIG funds for its Other Working Groups housing program.

GA allegedly received the funds through fraudulent means, like buying off non-Pag-IBIG members to sign on as beneficiaries of the government housing program.



Copyright 2014 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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