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Poomsae and teqball girls delivered on a busy Thursday afternoon to make up for the Philippine Team’s morning shortcomings in the Asian Youth Games.

Kristen Ambriel Aguila earned the silver medal in the girls’ individual recognized poomsae, getting nipped in the gold medal showdown by Iran’s Zeinab Shahriari, 8.86-8.60, at the Exhibition World Bahrain.

The girls’ doubles team of Crystal Cariño and Nicole Tabucol added to the Philippines’ medal haul by beating Bahrain’s Rawan Abdulaziz and Fatima Albanna, 10-12, 12-10, 14-12, in the bronze medal match at the convention center in Sakhir in the southern region of the kingdom.

The young girls’ performances raised the Philippines’ total to one gold, a silver and a bronze in the 45-nation sports conclave for rising sports stars-Kram Airam Carpio put the Philippines in the winners’ circle on Tuesday with a gold medal in Pencak Silat and has returned to a hero’s welcome in Manila on Thursday.

The Philippines is looking to surpass the two gold and three silver medals earned in the 2013 Nanjing AYG, the last time the sports event was held before the Bahrain Games.

Aguila, Cariño and Tabucol’s exploits was also a big boost after the disappointing result in boys’ triathlon, with Euan Arrow Ramos crashing out.

Aguila soars in taekwondo

Kristen Ambriel Aguila had two close finishes in the meet, squeaking through to the finale with a 118.4-118.1 victory over Yuqi Li of China in the round of four.

The 15-year-old Aguila, winner of two gold medals in the World Taekwondo Grand Slam Youth League in China last year, earlier defeated Datkaiym Aibekova of Kyrgyzstan in the quarterfinals after defeating Suha Rayefa Syeed of Bangladesh in the round-of-16.

It was not all celebration for the Philippine taekwondo team as Caleb Angelo Calde bowed to Iran’s Behdad Naghiee in the quarterfinals of the boys’ individual recognised poomsae.

Alfonzo Gabriel Tormon and Angel Lyn Yvainne Dacanay fell at the quarterfinal stage of the mixed pair, with Thailand’s Suchanang Injang and Nitikon Yimprasert advancing with a hairline 8.5000-8.4300 win.

Tecball girls make presence felt

Crystal Cariño and Nicole Tabucol of Pangasinan earned recognition on the international stage in teqball-which combines elements of football and table tennis, among others-after so-so performances as sepak takraw players.

Carino and Tabucol, who had never made it past regionals in sepak takraw, found their place in teqball and quickly made the country proud.

Added to the national squad only in a few months ago, the Filipinas from Ranao National High School in Bani, Pangasinan, proved their worth and fought back from a set down to complete the win.

Although inexperience showed as they seemed to chuck away early leads, including a three-point cushion in the first, Carino and Tabucol managed to hold on in the next two, limiting their errors by relying on safer shots than bold powerful strikes.

Arrow misses in triathlon

THE Philippines had a dismal start the morning following the opening ceremony on Wednesday night as neither triathlete registered an official time at the Sofitel Bahrain in the coastal town of Zallaq.

Euan Arrow Ramos had to be brought to the Bahrain Defense Force Hospital after suffering cuts and bruises all over, including his right arm and leg, after hitting the deck when his wheel clipped a cateye on a tight turn.

The 15-year-old Ramos came out of the water in ninth place and had closed in on the leaders during the bike stage when he apparently ran over a reflective road stud and crashed.

The cones had to be moved after several incidents, which slightly altered the course, but Triathlon Association of the Philippines secretary general Ting Joson said they can’t blame the results on these things.

‘It was unfortunate because Arrow is a strong triathlete and the boys prepared well. It’s unfortunate there was a cat eye on the path,’ Joson said.

Peter Sancho del Rosario also wound up on the bottom part of the 39-triathlete leaderboard, without an official clocking, after being disqualified due to an infraction at the second transition when he started removing his headgear before setting his bike on the rack.

China’s Li Yansong won in 27 minutes, 0.4 seconds. Kazakhstan’s Ramazan Ainegov finished in 27:11 for silver, and Korea’s Kang Woohyeon earned bronze in 27:13.

Mesmerizing opening ceremony

Harlyn Serneche of volleyball and boxer Leo Mhar Lobrido carried the Philippine flag during the lavish opening rites at the Exhibition World Bahrain late Wednesday night.

Bahrain came up with a captivating multimedia stage production, with superb performances by the local artists and mermerizing lighting effects as they welcomed the representatives of the 45 nations.

Philippine Olympic Committee president Abraham ‘Bambol’ Tolentino commended Bahrain for the excellent hosting so far, from facilities to logistics, especially since it accepted the hosting rights only in December last year.

‘Bahrain has done well, despite the short preparation,’ Tolentino said.

‘Bahrain was the savior, because Uzbekistan was supposed to host this and they could not make it in time.’

Uzbekistan pulled out because the infrastructure-especially the Olympic Village and related facilities-would not be completed in time.

Uzbek officials asked for a one-year postponement, but the Olympic Council of Asia declined because the AYG serves as a qualifier for the 2026 Youth Olympic Games in Senegal.

The Warsaw Stock Exchange eyes ditching its emerging-market status and an upgrade to developed markets within three to five years, according to Chief Executive Officer Tomasz Bardzilowski.

His prospective timeframe for the reclassification by index provider MSCI Inc. gives Poland time to revive public interest in stocks and bring more companies to the region’s biggest capital hub, the CEO said in an interview.

The desired move would be the first among stock exchanges in formerly communist eastern Europe, opening over 400 Warsaw-listed firms to more investors, including funds tracking developed-market indexes. The comments come amid a rally in Polish shares, with the benchmark WIG20 gauge up 50 percent in dollar terms this year.

‘We are quite aware that in the emerging market universe we are a much bigger fish than we would be in MSCI’s developed basket,’ he said. ‘We need to work to avoid staying below the radar screens of the vast majority of investors.’

Bardzilowski has an ally in trying to lure people back to equity investing. Finance Minister Andrzej Domanski, a former stock fund manager, in August unveiled tax incentives based on a Swedish model, seeking to rekindle an ‘equities culture’ that thrived in past decades.

Seven years ago, Poland was upgraded to a developing market by another index provider, FTSE Russell, which granted Warsaw-listed stocks a weighting of 0.1 percent. Meanwhile, the nation’s shares currently account for 1.1 percent of the MSCI emerging-market stock index.

Nearly zero

A potential weight close to zero could cause make it difficult for meaningful flows to reach Polish equities, according to Pawel Wieprzowski, a stock-fund manager at PKO TFI SA, the country’s largest mutual fund.

Assets under management by exchange-traded funds that use MSCI developed-market indexes are roughly three times as large as those that track emerging-market gauges, according to data from the company.

The market value of stocks with primary listings in Warsaw tops 1.05 trillion zloty ($287 billion). That’s more than the firms traded in Prague, Budapest and Bucharest combined and twice as big as in Vienna. Liquidity is still low but it’s increasing, especially during this year’s rally.

In its latest review in June, MSCI pointed to the lack of English-language information from Polish issuers, the scarcity of stock lending and short selling as well as inadequate rules regarding the registry representation for foreign owned shares.

The bigger problem for Bardzilowski, who’s been at the helm of the Warsaw stock exchange since March 2024, is enticing companies to list in Warsaw. Appetite for selling state assets has faded, with politicians from across the spectrum talking up the merits of state ownership.

Bardzilowski is betting on the government’s tax plan to widen the domestic investor base, which will make the stock exchange more resilient to global flows. This in turn will lure more companies to float in Warsaw and boost the market’s capitalization beyond roughly a quarter of the country’s gross domestic product.

With eastern Europe quickly ramping up military spending following Russia’s full-scale invasion of Ukraine three years ago, Bardzilowski expects more defense-focused firms to list in Warsaw. The exchange is meeting entrepreneurs across Poland to drum up interest in listings.

The record scale of secondary offerings this year is a key argument, according to Bardzilowski, showing that once a company is listed, it may repeatedly raise capital through the bourse.

West Zone concessionaire Maynilad Water Services Inc. has started its initial public ofering (IPO) on Thursday after the company secured a permit to sell from the Securities and Exchange Commission.

The offer period will run through October 29.

Maynilad’s IPO would be the country’s second largest at P34 billion in terms of proceeds, and only the second maiden offering for the year.

Maynilad, whose offer price is P15 per share, is expected to list its shares on the Philippine Stock Exchange on November 7,under the trading symbol MYNLD.

BPI Capital Corp. serves as the domestic lead Underwriter for the IPO, while The Hongkong and Shanghai Banking Corp. Ltd., Morgan Stanley Asia (Singapore) Pte. and UBS AG, Singapore Branch act as the international underwriters.

The International Finance Corp. and Asian Development Bank are the lead cornerstone investors of the IPO. The domestic and international cornerstone investors that have confirmed their participation include BDO Capital, BPI Asset Management and Trust Corp., Metropolitan Bank and Trust Company-Trust Banking Group, Security Bank Corporation -Trust and Asset Management Group.

International cornerstone investors, meanwhile, include abrdn Malaysia Sdn. Bhd., The United Kingdom Foreign, Commonwealth, and Development Office, Maven Investment Partners Ltd-Hong Kong Branch, Maybank Asset Management Singapore Pte. Ltd., Robeco Switzerland Ltd. and QRT Master Fund SPC-Torus Fund SP.

Maynilad hopes to sell 1.66 billion common shares to the public, and to 24.9 million primary shares to First Pacific Co. Ltd., with an overallotment option of up to 249.04 million primary common shares and subject to the exercise of an upsize option of up to 354.7 million secondary common shares to be offered by shareholder, Maynilad Water Holdings Co. Inc. (MHWCI).

Proceeds from the offer will be used to fund Maynilad’s capital expenditures requirements and for general corporate purposes. Maynilad will not receive any proceeds from the sale of MWHCI’s shares in the event that the upsize option is exercised.

THE Philippine Electric Vehicle industry is targeting to make electric vehicles account for at least 50 percent of all vehicles plying the country’s roads by 2040.

‘The bold target is to make EVs account for at least 50 percent of all vehicles on our roads by the year 2040,’ Electric Vehicles Association of the Philippines (EVAP) President Edmund A. Araga said in his speech at the 13th Philippine Electric Vehicle Summit (PEVS) 2025 on Thursday.

Araga said this target could be translated to a volume target of at least 2.5 million electric vehicles by 2040.

‘I am confident, as I have always been, that this goal is easily achievable, especially as we actually see that each year, we are breaking our own records,’ he asserted.

Citing data from the Land Transportation Office (LTO), Araga said registrations of EVs ‘skyrocketed’ to 29,715 from January to July of this year.

He said that figure has ‘overwhelmingly surpassed’ the number in 2024, adding that this represents about 5 percent of new vehicle registrations or thrice compared to the number two years ago.

In achieving the bold target for 2040, the EVAP chief said the electric vehicle sector is hoping that the ‘attractive incentives and perks offered to our motorists to shift to electric will further go full swing.’

Currently, some of the incentives and perks offered to the country’s motorists include: zero import tariffs; priority registration at the LTO, exemption from number coding, and free public EV charging stations in a growing number of malls and other commercial and public establishments.

As to the state of growth of EV charging stations, Araga shared that the Comprehensive Roadmap for the EV Industry in the country targets deploying 7,300 EVCS nationwide by 2028 and 20,400 by 2040, pointing out that this is the local industry’s ‘new challenge.’

‘We continue to persuade and encourage the public and private sectors to work double time to speed up the growth of EVCS in the Philippines,’ added the head of the EV industry group.

Araga pointed out that it is just ‘logical’ that as the number of EVs ‘consistently’ jump every year, the figure for EVCS ‘must match that spike’ so as to convince more Filipinos to switch to EV and realize the economic and environmental benefits of turning to electric mobility.

On the investments that the EV sector is attracting, Araga said it is estimated that total investments in local EV assembly and battery material and manufacturing have reached over P1 billion, creating more jobs for Filipinos.

‘We are confident that it will grow further,’ added the EVAP president.

He said the EV sector is becoming a ‘significant’ contributor to the economy through the rising volume of foreign and local investors, particularly in battery manufacturing facilities.

For one, Araga said the very first lithium battery factory in the country was inaugurated in Tarlac in 2024.

‘That facility could power up to 18,000 EVs annually when it reaches full capacity by 2030,’ he underscored.

Let the people who know best about what they need decide on what projects should be implemented in their respective areas.

In the forthcoming 2026 General Appropriations Act and beyond, Senator Francis ‘Chiz’ Escudero said this should be the guiding principle in proposing infrastructure projects, and their inclusion in the national budget, and in the release of funds for their implementation.

‘With the many problems with government infrastructure projects – including the substandard and ‘ghost’ flood control projects – there’s really a need to arrive at a sound solution so that tax payers’ money is not lost on anomalies,’ Escudero explained, partly in Filipino.

The veteran legislator explained that most, if not all, of the abuses committed with regard to the funding of infrastructure projects, are the result of the arbitrary moves of legislators, in connivance with officials in the Executive branch, to introduce items that never passed scrutiny at any point of the budget process.

‘This is the very issue being raised with regard to insertions in the budget,’ said Escudero, who noted that these projects came out of nowhere and were included in the national budget without anyone really knowing if they were feasible, needed or even real.

An examination of the General Appropriations Act (GAA) before 2025, alongside the examinations conducted by the Commission on Audit, would reveal the presence of ghost projects and other anomalies in the implementation of infrastructure projects.

Escudero has proposed a solution, one that is so simple and obvious that it would seem impossible that it has not been done before.

In the proposed Grassroots Infrastructure Planning and Budgeting Act filed by Escudero, all infrastructure projects must have prior endorsement of the Regional Development Council and either the Provincial Development Council or the City/Municipal Development Council and their respective Sanggunian before these are included in the National Expenditure Program (NEP) submitted by the President to Congress.

‘From the NEP [crafting phase] alone, no project that is not needed by the province or the country should be allowed to be included. Only the priority and really essential projects should be in the NEP,’ Escudero said, partly in Filipino.

‘The endorsement of our local government units is even more important for the projects pursued by lawmakers as an amendment – often included in the GAA or the final budget version that the President signs into law,’ he added.

The bill states that the prior endorsement of the RDCs and/or the local governing bodies is a requisite or condition sine qua non (absolutely indispensable) for the inclusion of any infrastructure project in the GAA and for the subsequent release of any allotment for its implementation.

‘If there is no endorsement or approval by the RDC, no money should be released by the DBM for any project,’ Escudero said. The senator from Bicol urged his colleagues in the Senate and the House of Representatives to prioritize the approval of this measure as it will address the issues that have been dominating the national conversation and strengthen the reforms that are being introduced with respect to the budget process.

FOR the third consecutive year, volunteers from the Bases Conversion and Development Authority (BCDA) went hands-on for an impactful mangrove planting activity in Binictican, Subic Bay Freeport Zone, Zambales.

Held in celebration of the 47th Anniversary of the Central Luzon Media Association (CLMA) and the 13th Anniversary of the Samahan ng Mamamahayag ng Subic Bay Freeport (SMSF) on October 9, 2025, the initiative brought together volunteers from BCDA, Subic Bay Metropolitan Authority (SBMA), and Subic Bay locators who planted 200 native mangrove saplings.

With BCDA’s participation since 2023, this effort reflects its commitment to sustainability and environmental preservation as a vital part of building future-ready cities and resilient communities.

‘BCDA’s participation in projects like this reflects our long-term commitment to developing green cities that work in harmony with nature. Protecting mangrove ecosystems is essential to climate resilience and community well-being,’ said BCDA President and CEO Joshua M. Bingcang. ‘Through collective action, we can ensure that the next generation inherits thriving environments and sustainable growth centers.’

Beyond serving as natural shields for our coastlines, mangrove forests help maintain marine species and preserve their habitat. Above the water, they filter pollutants, improve water quality, and act as carbon sinks. Mangroves also provide a natural cooling effect, supporting bird and wildlife habitats.

BCDA Officer-in-Charge Senior Vice President for Conversion and Development Mark Torres led the BCDA team, along with SBMA Chairman and Administrator Eduardo Jose Aliño, the Subic Chamber of Commerce and Industry, Aboitiz Power, Eco Protect, Balibago Waterworks System, Inc., and members of CLMA and SMSF.

‘For BCDA, this activity is part of our promise to build not only smart cities, but sustainable and livable communities. As we continue our projects across the island of Luzon, we know that true progress is only possible when we also take care of the environment that sustains us. This is our way of giving back – to nature and to future generations,’ Torres said.

Torres invited CLMA and SBMA to join BCDA’s future tree planting activities in Morong Discovery Park in the nearby Bataan, and New Clark City.

This initiative also reinforces BCDA’s vision of building green, sustainable, and resilient communities in line with the United Nations Sustainable Development Goals, particularly SDG 11 (Sustainable Cities and Communities), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals).

CHANELLE AVARICIO transformed disappointment into dominance at the International Container Terminal Services Inc. Apo Golf Classic with a commanding seven-stroke victory over Mafy Singson in Davao.

That despite carding a 73 in the final round on Thursday.

‘It feels great,’ said Avaricio, visibly exhaling a sigh of relief after bouncing back from a confidence-testing setback just a week ago at Del Monte. ‘Last week, I really fought but came up short. But I’m happy that I did well enough to win this one.’

Avaricio finished with a three-under 213 and pocketed the top purse of P117,000 to erase the stigma of that crushing defeat at Del Monte where she faltered down the stretch and lost to Sarah Ababa in sudden death.

‘This win means a lot, the same as all my other wins in the past. It feels great,’ she said, smiling as she reflected on her consistent drive to improve.

With an opening-round 72 that gave her a narrow one-shot edge over Singson, Avaricio shifted into high gear in Round 2 with a clinical 68 to widen her lead to eight strokes over Princess Superal.

Singson, who stumbled with a second-round 79 that left her 10 strokes behind, mounted an early charge in the final round with two birdies in the first three holes to pose a strong threat, but this time, Avaricio held sway.

Avaricio extended her lead with a birdie on the sixth but faltered with bogeys on Nos. 9, 11 and 12, while Singson failed to capitalize on her hot start and settled for 12 straight pars before rediscovering her touch with birdies on Nos. 16 and 18 to card a solid 68.

Singson’s late surge earned her a runner-up finish at 220, worth P82,000.

Superal also struggled with bogeys at Nos. 3 and 4 before trading two birdies with two more bogeys the rest of the way for a 74-she finished third at 222 and took home P65,000.

Florence Bisera and Daniella Uy matched 74s to share fourth place at 223, Harmie Constantino turned in a second straight 72 to tie for sixth with Marvi Monsalve, who shot a 74, at 225, and Pamela Mariano faltered with a 76 and wound up eighth at 226.

Martina Miñoza put in a 74 for ninth at 227, while Ababa-last year’s champion and fresh off a come-from-behind victory at Del Monte-struggled with a 76 to finish a disappointing 10th at 228 in the P1 million championship organized by Pilipinas Golf Tournaments Inc.

SALES of vehicles powered by fuel slightly declined in the January to September 2025 period amid ‘evolving market dynamics’ as electric vehicles continued their upward momentum, according to the Chamber of Automotive Manufacturers Association of the Philippines, Inc. (CAMPI).

A joint report by Campi and the Truck Manufacturers Association (TMA) showed that 343,410 units of vehicles were sold in the nine-month period, a 0.3-percent contraction from the 344,307 vehicles sold in the same period a year ago.

In a statement on Thursday, CAMPI President Rommel R. Gutierrez said ‘The September results reflect the industry’s adaptability and commitment to innovation.’

‘As we continue to embrace electrification and expand commercial mobility solutions, we remain optimistic about closing the year on a high note,’ added Gutierrez.

For September 2025 alone, the Campi-TMA report indicated that vehicle sales plunged by 3.8 percent to 38,029, compared to the 39,542 sold in September 2024.

Month-on-month, however, the 38,029 vehicles sold in September of this year are 5.1 percent more than the 36,174 units sold in August 2025.

In terms of vehicle segments, the number of sold passenger cars continued to plummet, contracting by 23.6 percent, with this segment selling only 69,306 units compared to the 90,765 units sold in the nine-month period in 2024.

Meanwhile, sales of commercial vehicles reached 274,104 units in the nine-month period, up 8.2 percent compared to the 253,329 units sold in the same period last year.

Under the commercial vehicle segment, Light Commercial Vehicles continued to occupy the larger chunk sales in the nine-month period with 203,349 units sold or 74.19 percent; followed by Asian Utility Vehicles with 62,235 units or 22.7 percent; Light-Duty Trucks and Buses with 5,092 units or 1.86 percent; Medium-Duty Trucks and Buses with 2,669 units sold or 0.97 percent, and Heavy-Duty Trucks and Buses with 759 units sold or 0.28 percent.

Passenger cars accounted for 20.18 percent share of the auto sales pie in the nine-month period while commercial vehicles occupied 79.82 percent of the pie.

Across brands, Toyota Motor Philippines Corp. remained the dominant market player, selling 164,797 units of cars in the nine-month period or a share of nearly 48 percent; followed by Mitsubishi Motors Philippines Corporation with 65,421 units sold (19.05- percent share; Ford Group Philippines with 16,688 cars sold (4.86 percent); Nissan Philippines, Inc. with 16,621 cars sold (4.84 percent) and Suzuki Philippines, Inc. with 16,390 units sold (4.77 percent).

The Campi-TMA sales report showed that 20,662 units of electric vehicles were sold from January to September 2025. This can be translated to 6.02 percent of the total auto sales pie.

Of total EVs sold in the nine-month period, 16,335 units are Hybrid Electric Vehicle (HEV); 3,657 units are Battery Electric Vehicle (BEV), and 670 are Plug-In Hybrid Electric Vehicle (PHEV).

Across Hybrid EV brands, Toyota led the sales with 12,878 units sold or a 78.84-percent share; followed by Honda Cars Philippines Inc., with 1,439 units (8.81 percent); KP Motors Corp., with 660 units (4.04 percent ).

As to the brands leading the sales of Battery EVs, Tesla Motors Philippines, Inc., cornered 55.10 percent or 2,015 units sold; followed by Nissan Philippines, Inc, with 781 units sold or 21.36 percent; Omoda and Jaecoo Motor Philippines, Inc. with 243 units sold or 6.64 percent.

For Plug-In Hybrid Electric Vehicle, United Asia Automotive Group, Inc. (Chery) led with 284 units sold or 42.39 percent; followed by Changan Auto (IC Automotive) with 140 units sold or 20.90 percent share; and SMC Asia Car Distributors Corp. (BMW) with 68 units sold or 10.15 percent share.

The Securities and Exchange Commission (SEC) is pushing for greater transparency in the beneficial ownership of corporations by requiring the disclosure of varying controls that owners exercise and by expanding access to such information.

The SEC on October 10 issued for public comment the draft memorandum circular on the Revised Guidelines on Beneficial Ownership Disclosure and Transparency.

The draft guidelines aim to consolidate all the rules and regulations promulgated by the SEC pertaining to the identification, declaration and submission of accurate beneficial ownership information by all corporations registered with the commission.

Developed in collaboration with Open Ownership and the United Nations Office on Drugs and Crime, the policy aligns with the multi-pronged approach of the Financial Action Task Force to beneficial ownership disclosure. It prohibits bearer shares, mandates disclosure of nominee arrangements, and imposes proportionate sanctions for non-compliance and false declarations.

‘By strengthening beneficial ownership information disclosure, we are addressing critical gaps that enable corruption and financial crime in the country, complementing broader government efforts to combat corruption and illicit financial activities,’ SEC Chairman Francis E. Lim said.

‘This policy underscores our unwavering commitment to transparency and accountability in the corporate sector, aligning the Philippines with global standards in combating money laundering and countering the financing of terrorism,’ he said.

The proposed rules will apply to all entities under the jurisdiction of the SEC, including domestic stock and non-stock corporations, partnerships, foreign corporations, one-person corporations and incorporators, directors, trustees, officers, and shareholders or members of corporations, among others.

All beneficial owners of the covered entities shall be disclosed, with their respective categories reported. There are nine categories of beneficial owners under the draft, categorized from A to I, namely: Ownership, Contractual Control, Board Election Power, Dominant Influence, Direction of Board, Property Stewardship, Nominee Arrangements, Other Control Mechanisms, and Senior Management.

THE government plans to build 500,000 new houses by 2028 as part of its nationwide effort to provide affordable homes and reduce the number of squatters or informal settlers, the National Housing Authority (NHA) said.

More than 100,000 units have already been completed, with ongoing projects including low-rise and mid-rise buildings in major cities and provinces.

The target forms part of the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, the Marcos administration flagship housing initiative.

‘For this term, our target is to build at least 500,000 housing units. We’ve already completed more than a hundred thousand, and construction is ongoing,’ NHA general manager Joeben Tai said in a mix of English and Filipino on the sidelines of the National Housing Expo 2025 on Thursday in Pasay City.

With the government’s expanded housing program, President Ferdinand Marcos Jr. said even low-income earners will now be able to afford to buy homes through the financial support from the Home Development Mutual Fund also known as Pag-IBIG Fund.

The initiative is expected to help reduce the country’s number of informal settlers, which the National Housing Authority (NHA) said is at 1.5 million.

‘Through the Pag-IBIG Fund, affordable housing loans can now be obtained, including the offer of a three percent interest rate per year for our low-income countrymen,’ the chief executive said in Filipino in his speech during the National Housing Expo 2025.

The Housing Expo is the first to be sponsored by the government to promote the joint initiatives of the government, private sector, and stakeholders to address the country’s housing shortage.

A total of 51 contractors participated in the event, held during the ongoing celebration of National Shelter Month.

Tai said the agency is focusing its programs on Filipinos who cannot qualify for Home Development Mutual (Pag-IBIG) Fund loans, particularly those earning below P15,000 a month.

The government estimates that around 1.5 million families still live as squatters nationwide.

The Pag-IBIG Fund, which organized the two-day expo, said more than 30,000 potential homebuyers registered for the event.

It featured more than 50 private developers offering over 100,000 brand-new homes under Pag-IBIG’s housing loan program and 30,000 acquired assets at discounts of up to 40 percent.

Alongside the NHA, other key shelter agencies showcased their respective programs, such as the Social Housing Finance Corporation’s Enhanced Community Mortgage Program and the National Home Mortgage Finance Corporation’s online housing fair.

In July, the Chamber of Real Estate and Builders’ Associations, the National Real Estate Association, the Organization of Socialized and Economic Housing Developers of the Philippines, and the Subdivision and Housing Developers Association committed to build around 250,000 housing units in support of the government’s flagship housing program.

The Department of Human Settlements and Urban Development has since reduced the national housing target to about 300,000 units by 2028, according to the midterm update of the Philippine Development Plan.

Pag-IBIG’s offerings

Under Pag-IBIG’s Expanded Pambansang Pabahay Para sa Pilipino Housing Program or 4PH Program, its 17 million active members or those who made contributions in the last six months may avail themselves of loans for the payment of both vertical and horizontal socialized housing units.

‘Beneficiaries and graduates of the Pantawid Pamilyang Pilipino or 4Ps program can also apply [for housing units] with the help of our Expanded 4PH [program],’ Marcos said.

The Pantawid Pamilyang Pilipino Program is the flagship program of the Department of Social Welfare and Development, which provides conditional cash transfer to poor households to improve their health, nutrition, and education.

Through the assistance of Pag-IBIG, Marcos said 57,000 members of the government-owned and-controlled corporation (GOCC) were able to acquire their own homes or to repair their existing ones.

Of these, three million have accessed P75 billion in cash loans.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said even minimum wage earners can secure a housing loan through the co-borrowing arrangement.

‘They can have a maximum of three people under co-borrowing,’ she told reporters in an interview at the sidelines of the Housing Expo.

Since Pag-IBIG initiated reforms in its programs, Acosta said the percentage of delinquents from its list of borrowers was pegged at 5 percent.

‘We can’t make it just 2 percent otherwise we will be strict on foreclosures,’ she said.

Unlike other financial institutions, which immediately foreclosed properties in case of loan default, Pag-IBIG Fund provides a 9-month grace period to its borrowers.

She urged Pag-IBIG borrowers to promptly settle their loans since the funds, which they used, came from all of the GOCC’s members.

Pag-IBIG Fund is currently auctioning off 30,000 foreclosed properties at the Housing Expo 2025. The common reasons for the default were the displacement of a worker and non-remittance of loan payments.

Despite the defaults, Acosta assured the public that the P1.17-trillion Pag-IBIG fund remained secure.