FILIPINO conglomerate PHINMA Corporation intends to build 513 affordable homes in Davao City for minimum wage earners through its Community Housing (CoHo) program.
Under Phinma CoHo, the developer is set to construct the first community housing project in Davao City following a groundbreaking on Thursday, Nov. 20, in Tugbok District.
The community housing project features house and lot packages priced at about P850,000.
Phinma is directly investing P250-million for these 513 row houses in rows of 7-10 houses with a
3-hectare property in Tugbok.
Luis Oquiñena, PHINMA CoHo president and CEO, told the media that the project hopes to address the housing backlog and the need for affordable housing for low-income families.
“We believe that every Filipino would want to own their own house, would want to call their home their own,” Oquiñena said.
He added that the socialized housing project aims to help the minimum wage earners transition from rental housing to homeownership.
“We are not just building houses; at the heart of this project is the community that supports the needs of the working family,” Oquiñena stressed.
The CoHo will also feature a community-based enterprise, a pre-school/day care facility, and skills training in partnership with government agencies.
Policy-wise, Oquiñena said they make the loan takeout easier for buyers with Pag-IBIG Fund, where the buyer only needs to have at least 24 months of contributions.
The company hopes to start earth-moving activities by January next year and construction in the second quarter. About 260 houses are eyed to be completed by the end of 2026, with 70 ready for take-out.
“We invest in this vision. But at the same time, we want to make this mission sustainable. We want to couple that income with our purpose to make lives better and be a force for good,” he said.
PHINMA CoHo was incorporated in January 2025 as PHINMA CoHo Corporation to replicate PHN’s success in education, catering to the underserved youth.
