Vice President and Housing and Urban Development Coordinating Council (HUDDC) Chairman Jejomar Binay inaugurated recently Hanjin Village, the exclusive housing development for some 3,000 Hanjin shipyard workers.
Joined by HHIC-Phil President Ahn Jin Kiu and Fiesta Communities Inc. President Wilfredo M. Tan, developer for the project, VP Binay led the turning over of keys to the first 300 homeowners of the new community.
Welcoming the undertaking is Castillejos Mayor Jose Angelo Dominguez. HHIC-Phil in serving its corporate social responsibility, acquired a 30-hectare property in Nagbunga, Castillejos, Zambales to provide the housing requirement of its more than 20,000 skilled workers.
From the numerous interests in building the said project, it awarded to Fiesta Communities Inc., a reputed and awarded developer in the Region, the development of the tract of land which started in the third quarter of 2012.
To make the housing units more affordable to the employees of Hanjin, HHIC and Fiesta partnered with the PAG-IBIG Fund who in turn extended the lowest interest rate possible at 4.5% per year at a maximum term of 30 years. On a “no-downpayment scheme”.
Hanjin employee pays as low as P2,330 per month in acquiring a 20-sq.m. duplex unit on 55 sq.m. lot over a thirty-year period.
The first Phase of the development already presents an exclusive village with amenities normally found in high-priced subdivisions such as gated main and cluster entries, concrete paved roads, underground drainage, fenced perimeter walls, social hall, basketball court, play areas, bus terminal to ferry workers to and from Hanjin, commercial area, and landscaped parks.
To further boost the community’s well being, Hanjin is donating a 9-classroom school building which is expected for completion shortly before the opening of the school year.
The subsequent Phase would see the rise of some 1,700 more units over the next 18 to 24 months.