Mass housing developer 8990 Holdings Inc. on Monday said it signed an agreement with the local government of Quezon City to provide residential housing units for its employees and so-called informal setters.
The company said the contract requires making available 2,699 housing units at the company’s new four-tower Urban Deca Homes Commonwealth project in Litex, near Commonwealth Avenue.
At the signing ceremonies, Quezon City mayor Josefina Belmonte highlighted the dream of every Filipino family to own a home.
“With this project, 2,699 homes will be immediately made available to beneficiaries from District 2,” she said.
She lauded 8990 for building a beautiful project for low-income earners since “they, too, deserve the best.”
Mariano Martinez Jr., 8990 Housing Development Corp. chairman, acknowledged this was 8990’s first housing project where they have partnered with a local government unit. He hopes that with the new and ready homes the community moves closer to an inclusive and empowered Quezon City.
Also joining the MOA signing were Quezon City District 2 Rep. Ralph Wendel Tulfo, District 2 Councilor Mikee Belmonte and District 2 Councilor Julienne Alyson Rae Medalla.
Also at the signing were Barangay Commonwealth Barangay chief Manuel Co, 8990 general manager-legal Hazel Helmuth and 8990 CFO Roan Buenaventura-Torregoza.
The enterprise had said its housing loan takeouts from the Home Development Mutual Fund (Pag-ibig Fund) more than doubled last year from the prior year’s almost P6 billion.
Promoting the Pag-ibig Fund among homebuyers means the company’s liquidity improved even as interest rates continue to rise, 8990 said.
“But this isn’t merely a financial triumph. It’s a testament to our commitment to making home ownership a reality for more people. Consider this: 126 percent more individuals now own homes. The number of homes we’ve helped make affordable and taken out by Pag-ibig has soared from 4,299 units to an extraordinary 9,736 units in just one year,” company president and CEO Anthony Vincent Sotto said.
“We are not merely building structures; we are providing the foundation for dreams, security in homeownership, and the stability of creating thriving communities… We are the architects of dreams,” Sotto said at the company’s stockholders’ meeting.
