Megawide Construction Corp., through its subsidiary Megawide Dreamrise Residences, Inc. (MDRI), on Thursday completed the structural framework of two towers at Jab Residences in Dasmariñas, Cavite, under the government’s Expanded Pambansang Pabahay Para sa Pilipino (4PH) Program, as the developer pledged affordable monthly payments and free shuttle services for future residents.
The simultaneous topping-off of Towers C and D on October 1 came seven months after the project’s concrete pouring ceremony in February. The milestone marks the development’s transition to the next phases of construction.
“This milestone is a very important step for the government, the Filipino people, and the country,” MDRI Chairman and President Edgar B. Saavedra said in a statement, adding that the project aims to accelerate the construction of affordable and accessible housing for Filipino families.
Mr. Saavedra said the company wanted to challenge the perception that socialized housing meant lower-quality homes, pledging to deliver developments comparable to private residential projects.
“What we want to prove is that socialized housing can be developed with the same care as other projects and that it can be better than what people expect,” he said during the ceremony, referring to the project’s push for improved housing standards.
MDRI is a partnership between Megawide and the Department of Human Settlements and Urban Development (DHSUD), through state-run Home Development Mutual Fund, or Pag-IBIG Fund, to develop socialized housing using mechanized and modernized construction methods.
Mr. Saavedra said the company had committed to a monthly amortization starting at ₱2,500 for the first four years under a graduated payment scheme, subject to the program’s approved terms. Payments would then increase to ₱3,500 from the fifth to the 10th year, before rising further under the schedule.
He said the payment structure was developed in response to requests for more affordable housing options. The company also increased the height of some towers to 10 to 12 floors to accommodate demand.
The developer also plans to provide at least two shuttle vehicles offering free service to residents for the first two years, addressing concerns about the project’s accessibility and the cost of commuting from the development.
“The location is quite far if you have to walk. Taking a tricycle might also be too expensive. So, we will provide two shuttles and free service for the first two years,” Mr. Saavedra said.
He added that improvements to road access would also be pursued to address residents’ concerns about connectivity.
Meanwhile, Pag-IBIG Fund Chief Executive Officer and President Marilene Acosta said the project demonstrated how government support, private sector expertise and housing finance could work together to expand access to homeownership.
“Today, we are not merely talking about the promise of housing. We are seeing that promise rise before us,” Ms. Acosta said during the ceremony.
She said Pag-IBIG Fund invested ₱10 billion in Megawide preferred shares last year to support the development of more than 7,000 condominium housing units in Dasmariñas.
“That ₱10 billion is your money, to all the Pag-IBIG members here. It is your money, not the money of the national government. It does not come from the General Appropriations Act,” she said, referring to members’ savings entrusted to the Fund.
Ms. Acosta said the investment earns an annual return of 9%, allowing the Fund to generate income while supporting housing development.
She also emphasized that expanding housing supply must be accompanied by financing arrangements that allow Filipino workers to afford the units. Under the Expanded 4PH Program, qualified borrowers may access subsidized housing loan rates, subject to program requirements.
“It’s not just houses that we are building. These are the homes where children will grow up, families will build their dreams, and people will have a stronger future,” she said.
MDRI’s current portfolio includes Jab Residences and Jenara Residences, both in Dasmariñas, which are expected to deliver a combined 7,143 housing units over the next two years.
The projects form part of the Megawide Group’s target to build 100,000 socialized housing units under the expanded 4PH program over the next five to seven years.
Megawide said its integrated construction capabilities, including engineering, precast components, ready-mix concrete and logistics support, would help advance the developments.
For the Pag-IBIG Fund, Ms. Acosta said the next milestone would be the turnover of completed units to qualified beneficiaries.
“The Pag-IBIG Fund will remain a steadfast partner in helping bring more of these homes within reach of Filipino workers and their families,” she said. — Kaizzer Angela Marie V. Manuba