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Manila Bulletin devider Philippines devider National devider 'Beke nemen': PNP asks Pag-IBIG for cops' big discount on resale of foreclosed housing unit

'Beke nemen': PNP asks Pag-IBIG for cops' big discount on resale of foreclosed housing unit

Published Aug 11, 2025 01:51 pm

At A Glance

  • Under the bulk sale promo of the Pag-IBIG Fund, properties with an aggregated price from P10 million to P50 million are given 40 percent discount while purchase of acquired assets with a total of P200 million sale price will have a 45 percent discount.
PNP Chief, Police General Nicolas Torre III (Photo: Philippine National Police)
PNP Chief, Police General Nicolas Torre III (Photo: Philippine National Police)
The Philippine National Police (PNP) is currently negotiating with the Home Development Mutual Fund, or Pag-IBIG Fund, to maximize the home assistance offer to members of the police force across the country— through  a huge discount.
PNP chief Gen. Nicolas Torre III said what they are targeting are the foreclosed properties under the Pag-IBIG Fund in Metro Manila and other parts of the country that may draw the interests of PNP personnel as their new homes.
“Pag-IBIG have acquired assets that they are now selling through bidding. We already made initial talks with the Pag-IBIG Fund for us to avail of the 45 percent they are offering under bulk or wholesale purchase,” said Torre.
The acquired properties include condo units, townhouses and even housing units in subdivisions. 
Under the bulk sale promo of the Pag-IBIG Fund, properties with an aggregated price from P10 million to P50 million are given 40 percent discount while purchase of acquired assets with a total of P200 million sale price will have  45 percent discount.
What they are targeting, according to Torre, is for each interested PNP personnel to avail of such a big discount in the individual unit they are interested to buy, which means that a policeman could still avail of the 40 to 45 percent discount even if the property is priced under P1 million.
All the PNP personnel who signified interest to buy the foreclosed assets of the Pag-IBIG would then be consolidated and will be considered as a bulk sale to avail of the promo.
All the policemen have to do, according to Torre, is to inform the PNP if they intend to buy an acquired housing unit of the Pag-IBIG in order to consolidate all of them and avail of the big discount. 
“We made a deal with the Pag-IBIG and we are about to finalize it,” he added.
Torre also disclosed that part of the agreement they are working on now is for any personnel to be exempted from the bidding process—which is part of the protocol of the Pag-IBIG in selling repossessed assets. 
“That is also our final request, that we should not undergo the bidding process. We will acquire it in the minimum bid price but still with 45 percent discount,” said Torre.
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