Pag-IBIG Fund praises Globe Asiatique projects

MANILA, Philippines - Until a few weeks ago, the National Home Development Mutual Fund (Pag-IBIG Fund) was all praises for Globe Asiatique Realty Holdings Corp. and its Xevera housing projects in Bacolor and Mabalacat Pampanga.

Only last Aug. 2, 2010, Pag-IBIG Fund accorded officially Globe Asiatique an almost perfect score in the loan payments of borrowers who bought housing units in Xevera Bacolor and in Xevera Mabalacat.

In the latest performance rating report, signed by San Fernando branch manager Erlinda Francisco, Northern Luzon Group vice president Vilma Flores, and Regional Clusters deputy chief executive officer, Pag-IBIG Fund gave Globe Asiatique a 99.98 percent rating.

On the Xevera projects, Pag-IBIG Fund chief executive officer Jaime A. Fabiana said: “I think it’s a landmark. Its establishment, its development I have yet to see anywhere in the Philippines. I have never seen as extensive as this. I only hope that other developers will copy and emulate Xevera and Globe Asiatique.”

Fabiana said Globe Asiatique provided for free schools, church and even infrastructures to respective local government. The Xevera projects also have wet and dry market, a commercial area and an eco and a theme park.

Globe Asiatique’s development concept is to create a complete community township with affordable quality homes, facilities and amenities and safe community. The company has been selling briskly Xevera housing units even without the Pag-IBIG Fund because of the merits of the projects and other Pampanga mayors have asked the company for similar project in their respective towns.

Fabiana said Globe Asiatique’s housing development of over 50 hectares of land in Pampanga is a testament to its capability as well as its noble purpose even in a mass housing project.

Globe Asiatique built 6,435 houses in Xevera Mabalacat and 4,046 houses in Xevera Bacolor, all according to schedule. These two townships are now thriving communities, not ghost towns as alleged by some media reports.

In the past 16 years, Globe Asiatique has garnered awards. The company was cited by HLURB “Leading Developer” in 2003 and “Most Pioneering and Responsive Developer of the Year” in 2007.

In addition to quality projects, Globe Asiatique gives five-year buy-back guarantee to buyers who are Pag-IBIG members while other developers only five two-year guarantee, securing and protecting their money. In case of payment default, it is the company that will shoulder the loss, not the Pag-IBIG members or the government.