Phase 1 of the take-out launch is set for December 7, 2023, in collaboration with other key industry players to address Philippines’ housing backlog
In response to the nation’s housing backlog, Pag-IBIG is set to launch Phase 1 of the digitalization of Pag-IBIG Fund’s take-out process on December 7, 2023. This landmark initiative, spearheaded by the Proptech Consortium of the Philippines, marks a significant stride in the real estate industry, with SHDA being tapped as a partner in the collaborative effort.
SHDA Chairman, Ms. Arlene Keh stated, “Our involvement in the digitalization of Pag-IBIG Fund’s take-out process is a testament to our commitment to innovation and progress in the real estate sector. We would also like to give our thanks to the Proptech Consortium of the Philippines, by pioneering this initiative alongside esteemed industry partners, we are shaping the future of housing in the Philippines, ushering in a new era of efficiency and accessibility for all.“
“We extend our sincere appreciation to SHDA and Chairman Arlene Keh for their unwavering commitment to advancing the digitalization agenda in the real estate industry. Their leadership has been crucial in making this historic launch a reality,” said a spokesperson for the Proptech Consortium.
The collaboration between SHDA and other industry leaders, including the Pag-IBIG Fund has paved the way for a transformative shift in the housing sector. The Proptech Consortium acknowledges the vital contributions of NREA Chair Imelda Magtoto, SHDA President Bido Dayao, OSHDAP Gerwin A. Panghulan, PropTech Founding Director Jopin Romero, and PropTech Managing Director Aj Rocero, all of whom have played key roles in the initiative.
The initiatives for the digitalization began in December 2021, marked by 20 Technical Working Group (TWG) meetings that provided a platform for discussions with Department of Information and Communications Technology Undersecretary, David Almirol along with collabborations with MagPie.
The group is aiming to deliver Phase 1 take-outs within seven days, with a vision to extend this expedited process to both Window 1 and Window 2 take-outs in collaboration with the HDMF and other relevant agencies.
This will be the first Housing Fund to digitalize its take out for affordable housing in Asia and aligns with the vision to set new industry standards and revolutionize the real estate landscape in the Philippines.