PHirst Park Homes, Inc. on Wednesday said it has signed a P450-million loan facility with Security Bank Corp. for the development of a residential community in San Pablo, Laguna.
In a statement, the joint venture company of Century Properties Group, Inc. and Mitsubishi Corp. said that loan will be used to develop the 18.5-hectare PHirst Park Homes San Pablo, which was launched in March.
PHirst said it will soon start the land development and construction of the community’s first 527 units. In total, PHirst Park Homes San Pablo will have 1,640 units.
PHirst Park Homes San Pablo is located along Maharlika Highway, Brgy. San Ignacio, and can be accessed through South Luzon Expressway via Santo Tomas Exit. It is also just a few minutes away from SM City San Pablo.
At the same time, Security Bank will offer end-user financing to PHirst Park Homes buyers in San Pablo; Tanza, Cavite; and Lipa, Batangas.
Security Bank is offering 90% loan value of the total contract price, with flexible loan terms at 25 years maximum, and a three to five-day turn-around time for approval.
“PHirst Park Homes has been building premium communities while elevating the standards of first-home buyers at competitive price points. We are proud of this partnership with Security Bank, as it makes our homes more attainable to first-time home buyers through very flexible loan terms,” PHirst Park Homes President Ricky Celis was quoted as saying.
The affordable housing brand generally caters to families with monthly household income of between P40,000 to P100,000. — Vincent Mariel P. Galang