Bor­row­ers' loan take­out in Min­danao reaches P4.4B

Sun.Star Davao - - BUSINESS - By Jen­nie P. Arado

AS of Au­gust 2017, Pag-ibig Fund recorded a to­tal of P4.4 bil­lion hous­ing loan take­out from 4,951 bor­row­ers in Min­danao as loans for coun­try­side hous­ing are in­creas­ing in num­ber.

Pag-ibig Fund Chief Ex­ec­u­tive Of­fi­cer (CEO) Ac­mad Rizaldy Moti, in a press con­fer­ence on Thurs­day, Septem­ber 14, 2017 at Apo View Ho­tel, said they reached a to­tal of P57.3 bil­lion loan take­out for the en­tire Philip­pines last year. This has ex­ceeded their 2016 loan take­out tar­get of only P50.5 bil­lion. Be­cause of this, Moti said they also in­creased their 2017 loan take­out tar­get from P55 bil­lion to P65 bil­lion.

Out of this num­ber, Min­danao tar­gets to reach a to­tal take­out of P8.6 bil­lion from 8,600 bor­row­ers by the end of the year.

“We’ve seen a big in­crease in our take­out. The busi­ness for our re­gional oper­a­tions used to be at 50 to 53 per­cent, now it’s hit­ting al­most 60 to 65 per­cent. Take out is big­ger now out­side Metro Manila. We would want to make sure that Min­danao would also be one of the top-per­form­ing groups,” said Moti.

Vice pres­i­dent for the Home Lend­ing Oper­a­tions Vis­min Group lawyer Marie An­toni­ette Diaz noted that the in­crease in the coun­try­side hous­ing loans, more par­tic­u­larly in Min­danao and Davao City is caused by the cur­rent boom of the busi­ness in the area. She also said that most of those that availed of the hous­ing loans in the re­gions are pur­chas­ing their sec­ond homes al­ready.

She added this in­flux can also be at­trib­uted to the lime­light that Davao City is cur­rently un­der with the pres­i­dent of the coun­try com­ing from the city. Diaz, who is also orig­i­nally from Davao,

said a few years back there were a fewer con­do­minium build­ings in the city as com­pared to the present where a lot of con­do­minium de­vel­op­ers are sprout­ing ev­ery­where in the city.

“For the next three to five years, we would want to maximize on our coun­try­side projects be­cause at the end of the day, if we just wait, if we are re­ac­tive, the un006served and un­der­served ar­eas will never have sub­di­vi­sions and houses. But if we are proac­tive, by seek­ing help of lo­cal gov­ern­ment unit lead­ers who would want to pro­vide qual­ity hous­ing at very af­ford­able rates for their con­stituents, then we can gen­er­ate,” Moti said.

He also added that from the pro­jected loan take­out of at least P65 bil­lion for 2017, he tar­gets to have it in­creased by P80 bil­lion to P100 bil­lion within five years.

JPA

PAG-IBIG FUND CEO Ac­mad Rizaldy Moti said they noted an in­crease in hous­ing loan take­out from bor­row­ers in Min­danao.

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