Socialized condo project to rise on GSIS land in Manila

MANILA  -About 1,000 families of informal settlers can look forward to eventually moving to a condominium as the Government Service Insurance System (GSIS) has turned over to the Social Housing Finance Corp. (SHFC) a P258-million, 14,000-square-meter property in Sta. Mesa in Manila.

According to the GSIS, the sale and transfer of title to SHFC paves the way for the construction of a high-rise residential project under the Marcos administration’s Pambansang Pabahay Para sa Pilipino Housing Program or 4PH.

The project is intended for families who live in “critical zones” or areas not suitable for residence, including members of the association Ugnayang Lakas ng mga Apektadong Pamilya sa Baybaying Ilog Pasig at mga Tributaryo (Ulap-Manila).

Created in 2004 pursuant to Executive Order No. 272, SHFC is mandated to be the lead government agency to undertake social housing programs that will cater to the formal and informal sectors in the low-income bracket.

SHFC is also tasked to take charge of developing and administering social housing program schemes, particularly the Community Mortgage Program and the Abot Kaya Pabahay Fund Program which used to be under the purview of the National Home Mortgage Finance Corp.

Last April, SHFC broke ground for a similar project in Misamis Oriental. Called Valley View Townships, that 25-tower project is intended for 10,400 families and will be built by RGJ Realty Corp.

According to SHFC, Valley View Townships is also part of its initiatives that support 4PH, through which the Marcos administration seeks to address the 6.5-million-unit housing backlog in the country.

“GSIS is here to help in your [SHFC’s] endeavor to help meet President Marcos’ promise to address the housing needs in our country,” GSIS president and general manager Arnulfo Veloso said in a statement.