State-owned Development Bank of the Philippines (DBP) has signed a P95-million term loan facility with local developer RCD Land, Inc. to finance a low-cost residential project in Tuy, Batangas which is expected to benefit at least 287 families in the area, a top official said.
DBP president and chief executive officer Cecilia C. Borromeo said the project with RCD Land, Inc. is in line with the bank’s goal of providing accessible financing for shelter production to help address the housing backlog in the country.
“Our loan assistance to RCD Land, Inc. reflects our unflinching commitment to spread the gains of development through the establishment of new communities outside of traditional urban centers,” Borromeo said.
DBP’s assistance covers site development and construction of housing units in the RCD Royale Homes Phase 3 project located along the Tagaytay-Nasugbu Highway in Barangay Sabang, Tuy, Batangas. The project consists of 287 two-storey row houses with an average lot area of 43 square meters and floor area of 47 square meters.
RCD Land, Inc. is a property developer with over 30 years of experience in the real estate industry and has established a niche in building economic and socialized housing units with over 2,000 units built. Since its first project in Imus, Cavite, the company has expanded its presence in Silang, Gen. Trias, Trece Martirez and Bacoor, Cavite as well as in Bulacan, Pasay, Paranaque, Quezon, and Batangas.