ILOILO City – The city government has entered into a joint venture with EON Realty and Development Corporation for the construction of a high-rise socialized housing project under the national Pambansang Pabahay Para sa Pilipino (4PH) program, aiming to deliver 1,677 condominium units to informal settler families.
The partnership was formalized through a joint venture agreement signed by Mayor Jerry Treñas and EON Realty President Franjieh Eon Angelo C. Tiu.
The project will rise on an 18,319-square-meter property in Barangay San Isidro, Jaro, where 13 10-story buildings will be constructed.
The city government will provide the land via usufruct, while EON Realty will fully finance and manage the development of the vertical housing units.
The Department of Human Settlements and Urban Development (DHSUD) has approved the project, ensuring compliance with national housing standards.
Qualified beneficiaries will be able to acquire units through the Pag-IBIG Fund’s end-user financing program. Each unit is estimated to cost between P1.5 million to P1.69 million.
Aside from housing units, the development will include road networks, utility systems, and common-use amenities to support a self-sustaining community.
The project is part of Iloilo City’s broader urban renewal and housing strategy, which seeks to promote social inclusion and sustainability through public-private partnerships. It also contributes to the local implementation of the 4PH program, a flagship housing initiative of the national government aimed at addressing the country’s housing backlog.
Mayor Treñas said the initiative reflects the city’s commitment to inclusive development and improving the quality of life for low-income families./PN