Phinma Properties partners with QC for 'Bistekville II'
MANILA, Philippines - Phinma Properties Inc. has partnered with the Quezon City government for the design and construction of the city's largest socialized housing project.
The 4.4-hectare property, renamed Bistekville II, is located at Brgy. Kaligayahan, Novaliches, Quezon City.
The project is set to benefit more than over a thousand underprivileged family-beneficiaries, including the informal settler-families that used to occupy the property.
“Bistekville II was put up to respond to the call of delivering adequate, affordable and decent housing especially to the poorest sector of the society. We take part in the housing efforts of Quezon City in providing safe, 'concrete' roof for the thousands of our urban poor,” Phinma Properties President and CEO Willie J. Uy said.
As of July this year, 456 units were already built and 180 families have moved in.
Phinma Properties is set to complete the project that will have a total of 1,078 mixed housing units: 703 one-storey units and 6 three-storey buildings with 375 condo units.
An average unit has a lot area of 27 sq. meters, fit to accommodate a family with five members. Through the housing loan package from Home Mutual Development Fund (PAG-IBIG), a socialized housing unit will cost only P2,500 per month with up to 30 years to pay depending on the age and income of the beneficiary.
“The way to respond to the problem of informal settlements is not to simply relocate them to far-flung areas, away from economic opportunities that are clearly centered in the city. Towards providing long-term solution to the problem of urban, slum settlements is to integrate them in the urban landscape with provision of clean water, livelihood, as well as a safe environment. By doing this we provide them access to a better, well-dignified life,” said Uy.