AQUIRA Land Development Corp. (ALDC) has signed a memorandum of agreement for the company’s second low-cost housing project this year. “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 Erick Armigos, ALDC chief executive officer.
The development eyes to build 6,150 low-cost housing units ton a 57-hectare property in Barangay Pandacaqui Mexico, Pampanga. This project will be a joint venture among ALDC, Benjamin Construction and Equipment Inc. (BCEI) and the property owner, the Armed Forces of the Philippines- Retirement and Separation Benefits System (AFP-RSBS).
AQUIRA is currently a partner in NHMFC’s Housing Loan Receivables Purchase Program. Under the arrangement, NHMFC purchases AQUIRA Land’s future receivables from individuals or groups that purchase homes from ALDC. Thereafter, these customers will pay NHMFC for their homes monthly, at low-interest rates, over long periods of time.
The first low-cost housing project ALDC signed on to do this year was a 16-hectare development in Tanay, Rizal.
The property for the company’s latest development in Mexico is just 10 minutes from Marquee Mall and 10 minutes away from Lake Shore Estates.
Although the project is primarily for retired military and police in the area, units will not be offered exclusively to them.
