Some 2,000 employees of the country’s largest shipbuilding company will soon become bonafied homeowners, Vice President Jejomar C. Binay said Saturday.

            Binay said this was made possible by the Hanjin Village, the housing project of Hanjin Heavy Industries & Construction Co., Ltd. – Philippines (HHIC), which Binay led in the inauguration.

            The Hanjin Village is part of the HHIC’s employee retention program where employees who stay with the company for at least five years rewarded with affordable, quality housing units.

            Binay said the project will produce 2,775 housing units, to be developed in two phases.

            “Sa Phase 1, isang libo pitong daan at tatlumpu (1,730) ang itatayo, at isang libong (1,000) housing units dito ang inaasahang matapos sa taong ito. Sa kasalukuyan, halos tatlong daan at limampung (350) bahay na ang naitayo,” he added.

            The Vice President, who chairs the Housing and Urban Development Coordinating Council (HUDCC) and the board of the Home Development Mutual Fund (Pag-IBIG Fund), said HHIC employees will be able to buy the housing units thru Pag-IBIG Fund’s housing loan designed specifically for the HHIC project.

            “Para sa bahay na nagkakahalaga ng P400,000, ibinaba ng Pag-IBIG ang interes mula sa apat at kalahating porsyento (4.5%) sa apat na porsyento (4%) para sa mga empleyadong may buwanang sahod na labin-dalawang libong piso (P12,000.00) pababa,” the housing czar said.

            “Para naman sa mga sumasahod ng higit labin-dalawang libong piso (P12,000.00) hanggang labing-apat na libong pisos (P14,000.00) ang dating 6.5% interest ay ibinaba sa 6%. ito ay para maging lalong abot-kaya ninyo ang pagkakaroon ng sariling bahay,” he added.

            Binay said no downpayment or equity is required from the HHIC employees, thanks to Fiesta Communities, the housing project’s developer. The Vice President also said HHIC was donating the land where the housing units are constructed to its employees.

            “Ibig sabihin, ang halaga ng babayaran ninyo na monthly amortization ay para lamang sa construction ng bahay at hindi kasama ang halaga ng lupa. Di-biro pong malaki ang bawas,” he said.

            Located in Castillejos town in Zambales, the 33-hectare property where Hanjin Village is being built was bought by HHIC from the local government of Castillejos in 2008.

            Under the scheme, HHIC retains ownership of the land for five years. Should an employee voluntarily separate from the company within this period, the residential unit shall be awarded to another HHIC employee.

            “Lahat ng ito ay nangyayari lamang dahil sa masigasig na pakikipag-ugnay ng Pag-IBIG sa malalaking kumpanya upang lubusang maisulong ang employees housing. Ito ay isang malinaw na halimbawa ng public-private partnership program na isinusulong ng ating pamahalaan sa pamumuno ng ating Pangulong Noynoy Aquino,” Binay said.

            The Vice President was joined by HUDCC Secretary General Cecilia Alba and Pag-IBIG Fund Chief Executive Officer Atty. Darlene Marie Berberabe.

            Established in 2006 and based in Subic, Zambales, HHIC is the biggest shipbuilding company in the Philippines. The company employs 17,885 workers.