Iloilo City Launches PHP2.54-B Housing Project

By Mariela Angella Oladive

The Iloilo City government has moved to ease its housing backlog with the signing of a joint venture agreement with EON Realty and Development Corp. (ERDC) for the PHP2.54-billion Uswag Condominium Complex under the Pambansang Pabahay Para sa Pilipino (4PH) program.

Mayor Jerry Treñas and ERDC President Franjieh Eon Angelo Tiu formalized the agreement on March 25, joined by Iloilo City Local Housing Office head Peter Jason Millare and Department of Human Settlements and Urban Development Western Visayas Regional Director Eva Maria Marfil.

The project will rise in Barangay San Isidro, Jaro, with 13 ten-story buildings offering 1,677 residential units.

Prices are set at PHP1.5 million for 24-square-meter units and PHP1.7 million for 27-square-meter units, based on DHSUD-approved rates.

Target beneficiaries include low-income families, informal settlers, and first-time homebuyers.

The city is addressing a housing backlog of about 22,000 informal settler households, according to the local housing office.

“With the joint venture agreement now finalized, we have opened the application process through our social media platforms,” Millare said.

Under the agreement, the developer will cover construction costs, which will be recovered through Pag-IBIG Fund take-out proceeds.

The project will be developed in four phases, with construction starting in April.

The first two buildings are expected to be completed within 10 to 11 months, with the full complex projected for completion between 2028 and 2029.

Amenities will include a basketball court, swimming pool, clubhouse, multi-purpose hall, perimeter fence, material recovery facility, and a playground.

So far, 247 applicants have secured loyalty cards, while 1,500 Pag-IBIG members and 500 non-members have expressed interest in acquiring units.

Marfil encouraged other local governments to explore the 4PH program, citing national government subsidies and a low annual interest rate of 1.25 percent for buyers.

Treñas said Iloilo City has nearly eight hectares of land available for future housing and urged interested applicants to coordinate with the local housing office.

The project is part of the city’s broader housing initiative to provide affordable homeownership while boosting the local rollout of the 4PH program, the national government’s flagship effort to address the housing shortage.