Philippines' Enhanced Community Mortgage Program to Benefit 8,100 Families

In less than a year, the government’s Enhanced Community Mortgage Program (ECMP) has approved 47 projects that are eyed to benefit 8,100 families, the Social Housing Finance Corporation (SHFC) said Monday. In an interview on Bagong Pilipinas, SHFC President and CEO Federico Laxa said their agency continues to award assistance to its beneficiaries. “Matagumpay at napabilis natin ang pagpoproseso ng ating ECMP, in fact, during the last several weeks, almost every week kaming dalawa ni [Department of Human Settlements and Urban Development Sec. Jose Aliling] ay nag-a-award ng mga tseke sa ating mga kababayan,” Laxa said. (We have successfully accelerated the processing of our ECMP—in fact, during the last several weeks, [Department of Human Settlements and Urban Development] Secretary Jose Aliling and I have been awarding checks to our countrymen almost every week.) The ECMP is a government program aimed at making homeownership more accessible and affordable. It shoulders several costs in acquiring land title, including documentary stamp taxes. Through the expanded Pambansang Pabahay para sa Pilipino (4PH) Program, Laxa said, more vertical housing developments have been built since its launch in 2023, with several others currently under construction. In San Fernando, Pampanga, four high-rise buildings have already been constructed at Crystal Peak. “Actually, pinuntahan iyan nang dalawang beses ng ating mahal na Pangulo, iyong Crystal Peak, na kung saan ay nakatayo na iyong mga apat na high-rise buildings natin dito, at ginagawa natin iyong kasunod pang mga buildings sa phase 2 nito,” Laxa said. (Our President has actually visited Crystal Peak twice, where our four high-rise buildings are currently standing, and we are working on the subsequent buildings for Phase 2.) According to Laxa, the President aims to complete Phase 2 of Crystal Peak before his term ends in 2028. Vertical housing developments were likewise constructed in Tagoloan, Misamis Oriental, called Valley View, as well as in Davao City, which offers 3,000 housing units. “Nandiyan din tayo sa People’s Ville sa Davao City naman na kung saan ay mayroon na tayong tinatayong mga 30 buildings. Karamihan dito ay tapos na at nag-a-award na tayo, nakapaglipat na iyong mga iba nating mga kababayan,” Laxa said. (We are also working on People’s Ville in Davao City, where we are constructing around 30 buildings. Most of these are finished, and we are already awarding units—some of our fellow countrymen have even moved in.) In Manila, vertical housing has also been built at the San Miguel Residence near Malacañang, where 172 beneficiaries have already relocated. Furthermore, construction is underway in Puerto Princesa, Palawan, with additional projects set to begin in Bataan and other provinces. — BM, GMA News