Tuesday, 14 August 2012 14:00
Pag-IBIG Fund, Zamboanga City Branch, represented by its Department Manager, AMORPATRI B. BAJARLA entered into a Memorandum of Understanding with NJB Development Corporation, headed by its President, NONITO J. BERNARDO.
On August 1, 2012, Pag-IBIG Fund and NJB Development Corporation (NJBDC) entered into a Memorandum of Understanding where the former, envisioned to improve the quality of life of its clients, who are mostly teachers, private and government employees by promoting home ownership.
The Fund, as its partner through the Group Housing Loan Program, will provide the financing requirements of its target beneficiaries for individual housing loan;
NJBDC used to be an accredited developer of the Fund who started delivery of mortgages in August 1993 when the Fund launched the Expanded Housing Loan Program. There were at least ninety eight (98) accounts taken out from August 1993 to January 1999, amounting to approximately P 20 million pesos which are located in Country Homes, Phases 1 to 3, Ayala, Zamboanga City. Ayala is approximately sixteen (16) kilometers from the city proper, but Country Homes boasts of its own amenities, to include the Dreamville Grocery Store which has been in existence since 1996 and is likewise owned by the developer.
NJBDC was the first recipient of the Fund’s Direct Developmental Loan Program, who availed of a P 5.9 MILLION PESOS loan, fully paid in 1995, with teachers, businessmen, private and government employees as beneficiaries of the one hundred seventy six (176) units.
To date, said developer is proposing to come up with Country Homes, Phase 5 which will generate approximately 195 housing units; thus the signing of the Memorandum of Understanding, which formalized its partnership with the Fund.
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