Pag-IBIG, SWU-Phinma sign MUA with beneficiaries

Officials of the Home Mutual Development Fund (Pag-IBIG) and Southwestern University-Phinma signed a memorandum of understanding and memorandum of agreement as they tied up for the first time in the construction and development of Aspire Homes Riverside in Sitio Pailob, Barangay Sambag 2, Cebu City.

Aspire Homes Riverside will have two five-storey walk-up condominiums with 238 units, occupying 2,959 square meters of land.

The project is developed by Phima’s affiliate, Community Developers and Construction Corp. (CCDC), under the PagIBIG Fund Countryside Housing Initiative in cooperation with Cebu City Government.

The project was originally conceived to serve as relocation for the on-site settlers in Barangay Sambag 2, who are prioritized low-cost housing beneficiaries.

The first 10 beneficiaries of the socialized and economic residential project, including former onsite settlers and SWU employees, received their notice of award as unit owners.

“There are no amenities inside each unit. That depends on how you modify and customize the space allocated for you. I acquired a P1.6-million unit on the second floor and they said that the projected time to move in would be in March 2018 but until now, there are still no clear updates. Nevertheless, I am happy to receive this certificate of award,” Gian Carlo Delante, a SWU faculty member, said.

“The long process of realizing this project is not that easy. Actually, there were a group of professional settlers in this area owning apartments and other businesses who protested against the implementation of the project but it is now all cleared. We can expect a total and smooth-sailing project development until the buildings will be fully utilized, probably in September this year,” said engineer George Richard Siton, Phinma business development consultant. /