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August 03, 2013

Phinma Properties sets out expansion projects in Luzon and Mindanao

MANILA, Philippines
— Phinma Properties, the pioneering leader and developer of affordable medium Rise housing (MRB), recently unfolded its expansion projects in key areas of Luzon and Mindanao as it affirms its stand to answer the current housing backlog dilemma in the country, while broadening the reach of its quality yet affordable housing to Filipinos.

Speaking at the 26th year anniversary of the company in its open house at Asia Enclaves Alabang, Phinma Properties  president and CEO Willie J. Uy said the housing industry in the country poses a compelling market that is well underserved, prompting the company to bank on its housing development expertise to set out on new expansion projects both inside and outside of Metro Manila.

Phinma Properties is doubling its efforts to acquiring lands for development in key areas in Davao City, Sta. Rosa Laguna and in Pasay City, planning to build medium cost, medium rise condominiums in well-planned communities. Total value of the projects is estimated at P4.7 billion, expecting to deliver around 3,690 units.

“The country is experiencing an unanswered housing backlog, stressing the need to further build residential developments in key areas of the country. It is imperative that we participate in putting up efficient and long-term responses to answer this dilemma,” said Uy.

Uy added that housing backlog currently stands at 3.7 million units, exacerbated by the population growth in urban centers in Metro Manila growing at an annual average of 1.65 million people or 1.5 percent annually. Such annual growth in population is primarily spurred by the influx of professionals from nearby provinces looking for affordable residential developments near urban centers and business districts.

Perspective view of Phinma Properties in Quezon City, PH.

Uy emphasized the need to tie-up with various concerned stakeholders, especially the government and other private housing developers to create sound, long-term housing programs to help address the gap in supply-demand.

“The housing industry poses a difficult challenge that cannot be solved overnight. The problem calls for a proactive and aggressive response. For our part, we hope to address the backlog through our expansion projects, giving Filipinos desirable, quality living by building affordable medium rise residential developments. It forms part of our involvement to offer comprehensive, long-term solutions to the 3.7 million housing dilemma,” said Uy.

Early this year, the Phinma recently engaged in a socialized housing project in Bistekville II in Quezon City. The only in-city, on-site relocation project done by a private developer, Bistekville II was approached as an inclusive business and a public-private partnership with the local government of Quezon City.

As of July this year, a total of 180 informal settler families have already moved in and around 610 row houses were already built in Barangay Kaligayahan, Novaliches. With the support of other non-government organizations, its success lies in its successful integration of skills and livelihood programs to uplift the socio-economic welfare of the beneficiaries.

Bistekville II stands as a concrete proof of its understanding that high-quality and affordable housing and servicing the marginalized segment of the society are not two separate objectives, but indeed can be pursued at the same time.

Its other landmark projects such Asia Enclaves Alabang, Solano Hills Sucat and Arezzo Place Pasig highlight the thrust of the company to provide easy access to dignified living through its affordable, decent housing.

“We have long understood that towards a solid foundation of a Filipino community, we must contribute by offering Filipinos a better access to the essentials of a better life through our affordable yet better-than-average homes, “ added Uy. “Indeed it has always been our objective to continue to improve the lives of many Filipinos, especially for those who can barely afford basic shelter.”

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source: The Philstar

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