The Pag-IBIG Fund has partnered with Megawide Construction Corp. to accelerate the delivery of 7,143 housing units in medium-rise residential developments under the government's Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) program. "We hope this will further stimulate private sector participation in building affordable homes," the statement read. Megawide is a leading Philippine engineering and construction company and a strong government partner in public-private partnerships, with extensive experience in delivering large-scale projects. Under the partnership, Pag-IBIG Fund will 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. Pag-IBIG Fund stated that the homes are expected to be priced below typical market rates for comparable units, placing them in the socialized housing category, while offering amenities usually found in higher-priced developments. The units are expected to be available within two to three years. The partnership will cover two initial sites in Dasmariñas, Cavite, consisting of 4,185 housing units at the Dasmariñas-Salitrán site and 2,958 housing units at the Dasmariñas-Paliparan site. This supports the national government's push to scale socialized housing through greater private sector involvement and faster project delivery. Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling, chair of the Pag-IBIG Fund Board of Trustees, said the partnership is designed to expand the supply of socialized homes while enabling faster construction and more accessible pricing for Filipino families. "This approach supports the directive of President Ferdinand R. 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," Aliling said. "By strengthening partnerships that increase housing supply, we help create more opportunities for Filipino workers and their families to move closer to homeownership." The preferred shares carry a 9 percent annual cash dividend, payable annually, with a step-up to 18 percent if the shares are not redeemed.