Ang Pahayagan

SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) is set to build at the central business district here a P1-billion residential complex to provide affordable and accessible housing for its employees.

SBMA Chairman and Administrator Eduardo Jose L. Aliño said the complex of four condominium buildings will be built in a 20,762-sqm lot along Rizal Highway Extension and will be named Subic Bay Residencias.

On June 4, Aliño formally signed the project lease agreement between the SBMA and project developer Philippine Community Housing Corporation-CSE Builders Joint Venture Company Ltd., which was represented by its general manager Mary Grace Ocampo.

📸 Chairman and Administrator Eduardo Jose L. Aliño and PCHC general manager Mary Grace Ocampo display signed contracts for the development of the Subic Bay Residencias employees housing project, as DHSUD and Pag-Ibig Fund officials look on approvingly. (SBMA HO Photo)

The joint venture firm is also behind the successful Palayan City Township housing project in Nueva Ecija, which has 24 10-story mid-rise buildings being developed in five phases.

Government officials led by Department of Human Settlements and Urban Development (DHSUD) Undersecretaries Emmanuel D. Pineda and Eduardo P. Robles Jr., Pag-Ibig Fund Finance and Utilities manager Brenda T. Cao, and SBMA directors witnessed the Subic contract signing.

According to the SBMA, the Subic Bay Residencias project has a total minimum development commitment of P1 billion, within a maximum development period of five years from the commencement of the lease agreement.

The four condominium buildings will have a total of from 1,600 to 1,920 units, with a prospective selling price of P1.8 million per unit. However, Aliño said this may be reduced to P1.6 million, depending on unit availability and the buyer’s area preference, as well as the financial capability of the beneficiary.

Hewing close to the live-work-play lifestyle being promoted in the Subic Freeport, the planned residential complex will have auxiliary features like parks, swimming pool, clubhouse, a tennis court, daycare center, and retail/commercial areas.

A source familiar with the project said the developer has recently started fencing the property and doing groundwork for building foundations.

The location of the project in Subic’s central business district is also expected to be very favorable to future housing residents, Aliño said.

“The advantage is that it is close to the workplace,” he pointed out. “Because what we want to happen is that after (they) work, (they) should be able to just walk to home and save time and money.”

Aliño said the Subic Bay Residencias project may just be the first of several planned housing projects in the Subic Freeport, as the development of socialized housing projects here dovetails with the Marcos administration’s Pambansang Pabahay Para sa Pilipino (4PH) program.

In May 2024, the SBMA also signed a memorandum of understanding with the DHSUD for the construction of a socialized housing under the 4PH Program within the SBFZ. (via Taktikom News and Features)

📸 Artist’s perspective of the Subic Bay Residencias housing project