PODC is Four-Time Top Pag-IBIG Developer
Pueblo de Oro President and COO Rhoel Alberto Nolido (center) accepts the award from Pag-IBIG Fund CEO Acmad Rizaldy Moti (third from left).
Pueblo de Oro Cebu was recognized by Home Development Mutual Fund (HDMF) Pag-IBIG as this year’s Top 3 Developer in the Visayas for Take Out of Housing Loan Deliveries. The award was presented during the 2017 Home Lending Accomplishment Report and Awarding/Recognition of Top Performing Developers last October 6, 2017 at the City Sports Club in Cebu City. Pueblo de Oro (PODC) President and COO Rhoel Alberto B. Nolido accepted the special citation from HDMF Pag-IBIG Fund CEO Acmad Rizaldy P. Moti. For four years in a row beginning 2014, Pueblo de Oro has consistently placed in the Top 5 among best-performing developers in the region.
The dynamic economy in Cebu, aligned with the improvements implemented by Pag-IBIG which include lower interest rates and enhanced collection efficiency, fueled the growth in loan value take-outs to P4.29 billion during the first half of 2017, 53% higher than the same period last year. For his part, Mr. Nolido, who was also the keynote speaker during the event, stated how, for the two years from 2015 to present, Pueblo de Oro’s take-outs grew by 42% a year. Mr. Nolido also highlighted Pueblo de Oro’s partnership with Pag-IBIG and how PODC’s success and growth in the recent years were largely attributable to Pag-IBIG loan take-outs.
“In Cebu, 80% of our take-outs are actually Pag-IBIG,” said Mr. Nolido. He also expressed hope that as Pag-IBIG loan processing becomes faster, this growth could be replicated in Pueblo de Oro Pampanga and Batangas. “Previously, the share of Pag-IBIG in those areas for Pueblo was only 20%, but with the increase in our Pag-IBIG accounts in Luzon, Visayas and Mindanao projects, our total take-outs have grown by 89%.”
This is why he explained, more and more developers are turning towards Pag-IBIG. This rapid growth in Pag-IBIG take-outs has been instrumental in another aspect of Pueblo de Oro and Pag-IBIG’s partnership. Due to the fast takeout process, Pueblo de Oro was able to pay off its three-year Pag-IBIG development loans in less than a year and plans to secure another loan worth double the value within the year.
About Pueblo de Oro
PODC is a successful and profitable Philippine property developer with over 20 years of experience in residential and mixed-use projects.
Its flagship project is the 360-hectare Pueblo de Oro Township in Cagayan de Oro City, designed by Louis Berger International (USA), a renowned expert in regional and urban planning with projects worldwide.
It has replicated its property development success in Sto. Tomas, Batangas and San Fernando, Pampanga.
For more info visit www.pueblodeoro.com