DBP grants P400-M loan to Cavite for mass housing proj

The state-run Development Bank of the Philippines (DBP) has extended a P400-million loan to the provincial government of Cavite to partially finance a land development and housing project to benefit an estimated 6,000 households in Gen. Trias town.

The project, to be undertaken by R-II Builders Inc., will be funded under the DBP’s Development of Poor Urban Communities Sector Project (DPUCSP).

DBP president and chief executive officer Reynaldo G. David said the loan will jumpstart the mass housing project on a 53-hectare property in Pasong Camachile, Gen. Trias.

“The property was contributed by the Cavite provincial government and currently being developed by R-II Builders,” David added. R-II Builders has completed various other infrastructure projects for the government, including the Smokey Mountain Development and Reclamation project.

The housing project will be divided into 32 hectares for residential housing (including road networks, parks and playgrounds) and three hectares for commercial establishments. The residential units consists of 48-square meter duplex units and 32-square meter row house units.

Informal settlers, factory workers in economic zones, and Cavite residents can purchase housing units through monthly amortizations with the Pag-IBIG Fund. In fact, the first two clusters have already been allocated to pre-qualified members of the housing fund.

“This is in line with the National Government’s thrust to provide decent and affordable shelter to the marginalized sectors of society and address the continuing problem of squatting,” David said. — Ted Torres