The Home Development Mutual Fund or Pag-IBIG Fund and the Naga City government have turned over the initial batch of affordable housing units to qualified city government employees who are acquiring their homes through Pag-IBIG Housing Loans.
In a news release on Wednesday, Pag-IBIG Fund said the turnover, which began on Aug. 18, marked the first group of Naga City employees to become homeowners through a partnership signed by the agency and the city government two months ago.
The partnership aims to help city government workers, particularly those in lower salary grades and first-time homebuyers, gain access to affordable housing and financing.
The Naga City Employees’ Housing Project initially covers 576 housing units at BellaVita Naga in Barangay Pacol, each priced at ₱350,000, according to the agency.