Megawide Construction Corp. secured a ₱10 billion investment from the state-run Home Development Mutual Fund, commonly known as Pag-IBIG, to accelerate the government’s mass housing program.

In a disclosure to the Philippine Stock Exchange, Megawide said the funds will be channeled through Megawide Dreamrise Residences Inc., a wholly owned subsidiary, via the subscription of perpetual preferred shares.

Pag-IBIG fund’s investment will be paid in three tranches.

Megawide plans to use the capital to deliver at least 7,000 affordable housing units over the next two to three years.

The move supports President Ferdinand Marcos Jr.’s “Pambansang Pabahay Para sa Pilipino” (4PH) initiative, which aims to address a chronic national housing shortage.

The partnership addresses the “imbalance between demand and supply in the housing sector,” Megawide Chairman and Chief Executive Officer Edgar Saavedra said in a statement.

Saavedra added that the company intends to launch 100,000 units as part of its long-term roadmap, with the first 50,000 units already identified for development over the next five years. These initial projects are slated for five locations in Cavite, including Imus, Dasmariñas, and Bacoor.

Pag-IBIG, the nation’s largest home financing institution, recently began offering a subsidized three percent annual interest rate on eligible socialized housing loans to boost affordability. The agency has financed more than 57,000 homes this year as of September.

The investment helps the fund “prudently grow and protect our members’ savings” through a board-approved portfolio, according to Pag-IBIG CEO Marilene Acosta.

Megawide, which developed the Mactan-Cebu International Airport and the Parañaque Integrated Terminal Exchange, has been increasingly pivoting toward residential development to diversify its infrastructure-heavy portfolio.