Subic Bay Metropolitan Authority (SBMA) and the Department of Human Settlements and Urban Development (DHSUD) signed yesterday, 20 May, a Memorandum of Understanding (MOU) for the establishment of employee housing in the Subic Bay Freeport Zone (SBFZ).

SBMA Chairman and Administrator Eduardo Jose L. Aliño said that the MOU on the housing project inside the SBFZ will benefit the employees of the agency.

Meanwhile, DHSUD Secretary Jose Rizalino Acuzar stated that the housing project is in line with President Ferdinand Marcos Jr.’s Pambansang Pabahay Para sa Pilipino (4PH) Program.

“This housing project will greatly benefit SBMA employees especially those who fall within the low income bracket, so they can also afford to buy housing units that they can call home. Thank you Secretary Acuzar for this wonderful gift to the SBMA workforce,” Aliño said.

The SBMA official also shared that the Socialized Housing Project will last up to 50 years where the beneficiary will be given a Certificate of Ownership of Leasehold Rights, instead of a title.

“Those who will qualify as beneficiary shall receive a five percent subsidy on the interest rate from the DHSUD. In addition, while PAG-IBIG’s regular interest rate is 6.25 percent, under the 4PH Interest Subsidy Program of DHSUD, it will be just 1.25 percent,” Aliño said.

Secretary Acuzar vowed his full support to the SBMA’s shelter provision initiatives for its workers and locators alike, citing that the former US naval base’s strategic location and infrastructures that are already in place are ideal for the development of inclusive housing communities under 4PH.

DHSUD Undersecretary Emmanuel Pineda, Regional Office 3 Director Julius Enciso, the SBMA Board of Directors, SBMA officials and other DHSUD officials witnessed the signing ceremony.