The Philippines Department of Human Settlements and Urban Development launched the Balai program to provide affordable housing to low-income families. The initiative sees developers and local governments work together on the construction of affordable housing across the country.
Vista Land affiliate Bria Homes launched its second development under the Balai program in Davao City. The PHP250 million project spans 12.1 hectares with the developer also overseeing the construction of roads, drainage, water and electrical facilities.
“This new development will soon provide comfortable and safe homes for Dabawenyos. We shall continue to strengthen our housing programs in the city by building more communities that are livable and affordable to all,” Vice Mayor Sebastian Z. Duterte told BusinessWorld.
This is the second Balai program project to be developed by Bria Homes. The first one was also located in Davao City and was completed in December of last year. Housing is provided to qualified beneficiaries who meet certain eligibility requirements.
Vista Land sees more demand from Filipinos living overseas
While Vista Land continues to help the low-income segment through its affiliate Bria Homes and the Balai program, its other partners remain focused on other segments. The homebuilder continues to see steady demand remains from Filipinos living overseas and this which it believes will boost the property market in 2021.
“While COVID-19 continues to impact our performance, both on our leasing and residential businesses, we also have seen a number of positive signs of recovery since the reopening of the economy last June,” Vista Land Chairman Manuel B. Villar, Jr. told the Manila Bulletin. The upward trend of our reservation sales were sustained and are now at 70 percent of pre-COVID level. This prompted the Company to restart launching residential projects in our existing land banks.”
Related: Strong sales see Vista Land mull more new project launches
