Business

Proptech Consortium Partners with SHDA, Pag-IBIG for Pag-IBIG Fund Takeout Digitalization

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(source: SHDA)

In response to the nation’s housing backlog, Pag-IBIG is set to launch Phase 1 of the digitalization of Pag-IBIG Fund’s takeout process on December 7, 2023.

This landmark initiative, spearheaded by the Proptech Consortium of the Philippines, marks a significant stride in the real estate industry. The Subdivision and Housing Developers Association (SHDA) is tapped as a partner in the collaborative effort.

“Our involvement in the digitalization of Pag-IBIG Fund’s takeout process is a testament to our commitment to innovation and progress in the real estate sector. We would also like to give our thanks to the Proptech Consortium of the Philippines, by pioneering this initiative alongside esteemed industry partners, we are shaping the future of housing in the Philippines, ushering in a new era of efficiency and accessibility for all,” said SHDA Chairman, Ms. Arlene Keh.

The collaboration between SHDA and other industry leaders, including the Pag-IBIG Fund, paved the way for a transformative shift in the housing sector. The Proptech Consortium acknowledges the vital contributions of NREA Chair Imelda Magtoto, SHDA President Bido Dayao, OSHDAP Gerwin A. Panghulan, PropTech Founding Director Jopin Romero, and PropTech Managing Director Aj Rocero, all of whom have played key roles in the initiative.

The initiatives for digitalization began in December 2021, marked by 20 Technical Working Group (TWG) meetings that provided a platform for discussions with Department of Information and Communications Technology Undersecretary David Almirol, along with collaborations with MagPie. 

The group aims to deliver Phase 1 takeouts within seven days, with a vision to extend this expedited process to both Window 1 and Window 2 takeouts in collaboration with the HDMF and other relevant agencies.

This will be the first Housing Fund to digitalize its take on affordable housing in Asia and align with the vision to set new industry standards and revolutionize the real estate landscape in the Philippines.

Written by
Tech Beat Philippines

Tech Beat Philippines is the social media news platform for all things technology. It is also a part of the GEARS section on Daddy's Day Out.

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