malaysiang
SM Development Corporation (SMDC) symbolically turned over its PHP248 million first vertical socialized housing project, the KaUswagan Residences, in Barangay San Isidro, Jaro, to the local government here on Thursday.
SMDC signed an agreement with the Iloilo City government and the Department of Human Settlements and Urban Development (DHSUD) for the project during the middle of the pandemic.
‘With the successful completion of our project, we hope to inspire future partnerships between the government and the private sector to come up with more socialized housing projects here in the beautiful city of Iloilo,’ SMDC senior assistant vice-president David Tan said in his message during the turnover.
The KaUswagan Residences features two four-story buildings with 120 units, each with an area of 30 square meters, intended for city government workers with an income of Salary Grade 8 and below.
SMDC property acquisition and compliance consultant Armenia Ballesteros said the project is part of their socialized h
ousing compliance since they also have housing projects in Iloilo City.
Ballesteros said the socialized housing requirement for existing projects in Iloilo City is small, so SMDC advanced the compliance for future projects.
‘We donated to the LGU PHP248 million contribution. Based on our MOA with DHSUD, the LGU has the option to donate it to beneficiaries or sell, provided they follow DHSUD guidelines. Mayor Jerry Treñas decided to sell the units to city hall employees at a lower price,’ she said.
The PHP54 million funds that will come from the sale of the 120 units will be used as seed money for the Iloilo City Local Housing Office for its future and existing housing projects.
Pag-IBIG Fund chief executive officer Marilene Acosta, in her message, said the housing units are already an investment on the part of the beneficiaries since they will only buy the unit for PHP450,000, which is valued at almost PHP2 million when bought from private developers.
‘The KaUswagan Residences will be implemented under o
ur countryside housing initiative, the very first vertical project here in Iloilo City,’ she said.
Treñas for his part said the project is a ‘landmark’ for the city’s housing sector, which sets a new benchmark for public-private collaborations in housing.
‘This project stands as our shared history and pride as the very first socialized vertical development of Iloilo City. May this serve as an eye opener that with the formidable alliance among LGU, national agency, private sector, and CSO, any shared vision, projects, and programs can always be attainable,’ Treñas said.
Homeowners association president Milagros Arsenal said they were excited to move in since their units have water and electrical connections.
She is employed with the General Services Office (GSO) with an income of only Salary Grade 3.
Now 54 years old, she said it’s her first time to have a house under her name.
‘When the city government said that it has an available condo, most especially for employees with Salary Grade 8 and below, we g
rab the opportunity,’ she said.
Another recipient, 55-year-old Ramona Chavez, who works for the GSO, won her unit through a raffle held during one of the flag ceremonies at the city hall.
‘I am overwhelmed and happy. This is an opportunity for us to have our own house,’ she said.
Acting Mayor Jeffrey Ganzon led other city officials in receiving the symbolic key from SMDC, which was also turned over to Arsenal.
DHSUD director for Housing and Real Estate Development Regulation Bureau Lawyer Angelito Aguila and Western Visayas regional director Eva Marfil also witnessed the ceremony
Source: Philippines News agency
