{
  "id": 1976895,
  "title": "Pag-IBIG turns over 1st batch of Naga employee homes",
  "url": "https://urgent.news/2026/08/19/pag-ibig-turns-over-1st-batch-of-naga-employee-homes",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-19T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/08/20/2550403/pag-ibig-turns-over-1st-batch-naga-employee-homes"
  },
  "original_language": "en",
  "account": "The Housing Development Mutual Fund, also known as Pag-IBIG Fund, has recently transferred the first batch of housing loans to eligible Naga City government employees. This marks the inception of the Naga City Employees’ Housing Project, which aims to provide affordable homeownership options for public servants and first-time homebuyers. The project initially encompasses 576 housing units situated at BellaVita Naga in Barangay Pacol, with each unit priced at P350,000.\n\nUnder the Expanded Pambansang Pabahay para sa Pilipino program, qualified employees can acquire these homes by availing themselves of Pag-IBIG Housing Loans at a concessional interest rate of three percent per annum for the initial five years. The partnership between Pag-IBIG Fund, the City Government of Naga, and BellaVita, Ayala Land Inc.'s socialized housing arm, has been instrumental in expediting the process, as evidenced by the rapid uptake of more than 100 housing loan accounts within just two months of signing the agreement.\n\nNaga City Mayor Leni Robredo expressed her appreciation for the swift progress, stating her aspiration to complete the acquisition of all 576 housing units by October. She also hinted at the potential expansion of this opportunity to other categories of Naga residents, including educators, uniformed personnel, and informal sector workers.\n\nThe objective of this partnership is to offer public servants, particularly those in lower salary grades and first-time homebuyers, access to reasonably-priced housing and financing. The memorandum of understanding signed between the fund, the city government, and BellaVita in mid-June facilitates a streamlined documentation process to facilitate the loan application and disbursement, enabling the transfer of homes to qualified employee-beneficiaries.\n\nPag-IBIG Fund's CEO, Marilene Acosta, reiterated the organization's commitment to President Marcos' directive to broaden access to affordable homeownership for working Filipinos, specifically emphasizing the involvement of government employees who dedicate their careers to public service. The initiative aligns with Pag-IBIG's ongoing collaboration with Ayala Land, as evidenced by a recent memorandum of understanding with Ayala Land's residential brands Avida and Amaia, which further expands quality housing options and financing opportunities for Filipino workers.",
  "summary": "More than 100 housing loan accounts have been availed of by qualified Naga City government employees under a housing partnership with the Home Development Mutual Fund, commonly known as the Pag-IBIG Fund.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}