Social Housing Finance Corporation (SHFC) has awarded a check worth P75.1 million for the purchase of land in Cauayan City, Isabela that will benefit a total of 588 families from the Labinab Heights Homeowners Association, Inc. (HOAI). In a ceremony held on May 14, SHFC North Luzon Operations Vice President Jones Tomas made the payment to the landowners for the 97,167-square meter property in Barangay Labinab.
The development came less than a year after SHFC and the local government of Cauayan led by Mayor Bernard Faustino Dy signed a memorandum of understanding for the implementation of the Community Mortgage Program (CMP) in the city. The deal is expected to address the housing problems in Cauayan through socialized shelter initiatives. READ MORE