AQUIRA Land Development Corp. (ALDC) is partnering with the Armed Forces of the Philippines-Retirement and Separation Benefits System (AFP-RSBS) for a new 57-hectare low-cost housing project in Mexico, Pampanga.
Together with Benjamin Construction and Equipment Inc. (BCEI), they recently signed a Memorandum of Agreement (MOA) for the construction of 6,150 affordable residential units, to be offered primarily to military and police personnel.
While they are mainly catered to enlisted government peacekeeping forces, such joint venture development of dwellings will not be exclusive to those sectors.
This is ALDC’s second low-end housing project, following a deal it closed earlier this year to develop a 16-hectare community in Tanay, Rizal in line with the government’s push to develop one million low-cost or socialized dwellings by 2023.
“Our aim from the start has been to hit the ground running, since signing the MOA we have with the National Home Mortgage Financing Corp. (NHMFC), it has been our intention to pursue as many social and low-cost housing projects as our resources allow,” said ALDC Chief Executive Officer (CEO) Erick Armigos.
“AQUIRA Land is the final piece of the puzzle. We had to find the right partner to move forward with this project,” BCEI President and CEO Ms. Veronica Lim added.
ALDC’s latest development located along Barangay Pandacaqui is just 10 minutes from Marquee Mall, and about the same time away from Lake Shore Estates.
The real estate company is currently a partner in NHMFC’s Housing Loan Receivables Purchase Program, whereas the latter purchases ALDC’s future receivables from individuals or groups that bought homes from the former.
Thereafter, these customers will pay the NHMFC for their homes monthly, at low-interest rates, over long periods of time.
