PHINMA Corp. plans to launch two socialized housing projects in Bacolod and Davao this year, its chairman said on Monday.
“Our first (socialized housing) project will be in Davao, then Bacolod,” PHINMA Corp. Chairman and Chief Executive Officer Ramon R. del Rosario, Jr. told reporters on the sidelines of the Financial Executives Institute of the Philippines 2025 Inaugural Meeting in Makati City.
The company is also eyeing a socialized housing project in Iloilo.
“The idea there is to put some of the basic necessities that families need, such as a daycare center, skills upgrading facilities, and even employment opportunities,” Mr. Del Rosario said.
“The way we are organizing it is we’re calling it community housing so that it’s not just physical homes, it’s building communities,” he added.
PHINMA is looking at an initial 200 units to test its entry into the community housing segment, with each unit priced from P750,000 to P800,000.
Mr. Del Rosario said PHINMA is also looking at possible locations in Luzon.
“We really want to make sure we know what we’re doing and that we can do it at scale and at a reasonable cost, and hopefully generate reasonable profits as well,” he said.
PHINMA shares were last traded on Jan. 24 at P18.20 apiece. — Revin Mikhael D. Ochave
