Phividec to Construct Thousands of Houses for Informal Settlers in MisOr

CAGAYAN: The Philippine Veterans Investment Development Corporation (Phividec) has announced a major housing initiative for informal settlers in Misamis Oriental province. Phividec administrator Joseph Donat Bernedo revealed on Thursday that the industrial firm, in partnership with the Department of Human Settlement and Urban Development, is set to build approximately 3,000 to 4,000 housing units.

According to Philippines News Agency, this project will cater to families residing informally within the Phividec estate, which spans the areas between Tagoloan and Villanueva towns in Misamis Oriental.

This housing project aligns with Phividec’s expanded programs, marking its 50th founding anniversary. Bernedo highlighted the potential positive impact of a larger capacity port within the industrial estate, anticipating an influx of businesses. Additionally, Phividec Industrial Authority’s locator, FDC Utilities Incorporated, has embarked on a solar power expansion project within the estate. FDC Utilities President and CEO Juan Eugenio Roxas stated that the development of this solar power facility is a response to the government’s call for more clean and renewable energy sources. This solar capacity will be connected to the grid and sold to electric cooperatives to meet the renewable portfolio standard requirement set by the Department of Energy.