Ovialand eyes P1-B takeouts with Pag-IBIG Fund

Housing developer Ovialand, Inc. is slated to take out PHP1 billion in housing loan with Pag-IBIG Fund this year, as the demand for house and lot units continue to increase especially during the pandemic.

“We will be completing 600 housing units this year across four developments in Laguna and Quezon Province. Seventy percent of these houses and lots are already sold and our homebuyers are waiting for the turnover of their units,” Ovialand, Inc. president Pammy Vital said in a statement Wednesday.

Vital said many Filipinos are still searching for their first homes and Ovialand is ready to face a busy 2021 ahead.  

“Pandemic or not, our nation is at the cusp of a new generation. Seventy-five percent of homebuyers are millennials who are starting their young families and this pandemic has made many realize the need to prioritize a home investment rather than careless spending,” she said.

Vital also commended the management and team behind Pag-IBIG Fund for their “heroic service throughout the pandemic”. 

“Pag-IBIG Fund really went above and beyond the call of duty for the developers during the pandemic. They were able to quickly shift to maximizing the use of technology in verifying loan applications and conducting unit inspections. We supported them 100 percent because we understood that these safeguards in loan processing cannot be sacrificed,” she added.

Ovialand caters to the emerging middle class Filipino home-buyers.