DBP extended a P56-million term loan to A.J. Ledesma Construction Corporation (AJLCC) as part of its continued assistance to real estate projects that address the rising demand for housing in Iloilo City.
The loan was used for the construction of the Eagle Crest Condominium, a four-storey building that offers various residential units and commercial spaces for young professionals, entrepreneurs and families.
The project, located at San Nicolas, Lapaz, Iloilo City, is among the first condominiums built in Iloilo City. It involves the development of 1,197 square meters of land and building with 90 saleable units, 15 parking lots, and seven commercial units.
DBP previously granted AJLCC with a P50-million term loan in 2006 for the development of a socialized housing project in General Mariano Alvarez, Cavite.