MANILA, Philippines – A partnership has been forged between Pag-IBIG Fund and Megawide Construction Corp. which would pave the way for the construction of 7,143 housing units in medium-rise residential developments under the government’s Expanded "Pambansang Pabahay para sa Pilipino" program or Expanded 4PH. Pag-IBIG said it would invest up to P10 billion through a subscription to preferred shares in the project company, to be funded in three tranches: P5 billion for the first tranche, and P2.5 billion each for the second and third tranches. The preferred shares carry nine percent annual cash dividends, payable annually with a step-up to 18 percent if the shares are not redeemed, it said. Pag-IBIG CEO Marilene C. Acosta said the project highlighted the agency’s twin mandate to expand homeownership opportunities for Filipino workers and to prudently manage members’ savings so these continue to earn and grow. “Every peso our members save with Pag-IBIG Fund represents their hard-earned money and their hope for a better future,” Acosta said. “By supporting the development of thousands of housing units while securing investment returns, we strengthen Pag-IBIG Fund’s capacity to serve more members, grow their savings and promote homeownership,” she added. Targeted to be completed within two to three years, Pag-IBIG said the proposed housing units were expected to be priced below typical market prices for comparable units, bringing them within the socialized housing range with amenities more commonly found in higher-priced developments. It will cover two initial sites in Dasmariñas, Cavite, consisting of 4,185 housing units in the Dasmariñas-Salitrán site and 2,958 housing units in the Dasmariñas-Paliparan site, according to a statement emailed to The Manila Times. “The partnership is designed to expand the supply of socialized homes while enabling faster construction and more accessible pricing for Filipino families,” said Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling, concurrent chair of the Pag-IBIG Fund Board of Trustees. He said the initiative supports the directive of President Ferdinand Marcos Jr. to widen access to practical homeownership options for Filipino families by enabling the private sector to build faster and at scale under the Expanded 4PH. “By strengthening partnerships that increase housing supply, we help create more opportunities for Filipino workers and their families to move closer to homeownership. We hope this will further stimulate private sector participation in building affordable homes,” the housing czar added. A leading Philippine engineering and construction company and a strong government partner in public-private partnerships, Megawide has extensive experience and track record in delivering large-scale projects, according to the same statement. Acosta said that the partnership model aimed to demonstrate how structured and secured investments can encourage broader private sector engagement in housing, helping accelerate project rollouts and expand the inventory of affordable, ready-for-occupancy homes.