SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority is set to build a ₱1-billion residential complex offering affordable housing for its employees.
To be called Subic Bay Residencias, the housing project will be sited at Lot 70-B, Rizal Highway Extension, Central Business District with a total of 20,762 square meters.
“The development and construction of Subic Bay Residencias will consist of four condominium buildings and other auxiliary uses such as parks, a swimming pool, a clubhouse, a tennis court, a daycare center, and retail area/commercial areas,” said SBMA chairman and administrator Eduardo Jose L. Aliño.
He said that the four buildings will have a total of 1,600 to 1,920 units, with a selling price of ₱1.8 million per unit, which may be reduced to ₱1.6 million, depending on the availability and area preference, and the financial capability of the beneficiary.
He added that the total minimum development commitment is ₱1 billion, within a maximum period of five years from the commencement of the lease agreement, citing that this is just the first phase of the many housing projects inside the freeport.
Last June 4, Aliño and Philippine Community Housing Corp. (PCHC) general manager Mary Grace Ocampo signed a lease agreement on the project in the presence of Department of Human Settlements and Urban Development Undersecretaries Emmanuel D. Pineda and Eduardo P. Robles Jr., the SBMA Board of Directors, and officials from Pag-IBIG Fund led by Finance and Utilities Department manager Brenda T. Cao.
A thrust under the Marcos administration’s 4PH Program, the socialized housing for workers inside the SBFZ like the Subic Bay Residencias is geared towards providing housing for the employees of the agency.
In May 2024, SBMA signed a memorandum of understanding with the DHSUD to construct socialized housing under the 4PH Program within the SBFZ. The housing project aims to provide affordable yet sustainable houses to freeport zone workers who fall under the low-income bracket.
“Its advantage is that it is close to their workplace. Because what we want to happen is that after you work, we want you to be able to just walk from your work to home to save time and save money,” Aliño said.
Press release
