By Benjamin Cuaresma
MANILA — The City Government of Manila is putting about P50 million of its housing trust fund into an investment arrangement with the Land Bank of the Philippines to create a more sustainable financing source for the city’s in-city vertical housing program.
Mayor Francisco “Isko” Moreno Domagoso and LandBank Vice President and Chief Trust Officer Atty. Mario Sabino Jr. signed the agreement Wednesday, September 16, marking what the mayor described as the beginning of a long-term effort to sustain and expand Manila’s housing projects.
The funds, drawn from the Manila Urban Settlements Office (MUSO) Housing Trust Fund, came from the mandatory monthly contributions of beneficiaries of the city’s in-city vertical housing projects.
Under Resolution No. 598, Series of 2026, the City Housing Investment Committee was authorized to negotiate with LandBank for the investment of available resources from the MUSO Housing Trust Fund.
The fund is dedicated exclusively to financing, managing and disbursing resources for Manila’s housing and settlement programs.
Domagoso underscored the distinct nature of the fund, stressing that the money being invested was not generated from taxes but entrusted to the city by the very beneficiaries of its housing program.
“Ito very unique kasi hindi siya tax money. This is the money entrusted by the beneficiary to the City,” Domagoso said.
He said the agreement is intended to establish a continuing financial mechanism that can support the city’s housing program beyond individual projects.
“This is the start of a long journey of the in-city vertical housing,” the mayor said.
Domagoso said Manila’s broader objective is to give more families currently living in informal settlements and rental accommodations an opportunity to obtain decent and secure homes without having to leave the city.
He expressed confidence that sustained investment in the housing fund could eventually help the city address informal settlements while expanding homeownership opportunities for renters.
“Darating ang araw na mauubos at mauubos ang squatter sa Maynila at mabibigyan ng tsansa ang mga nangungupahan na magkaroon ng sarili nilang bahay,” he said.
The mayor said the initiative goes beyond financing existing housing projects, with the investment designed to help build a continuing pool of resources that Manila can use to develop additional homes in the years ahead.
The signing was witnessed by City Treasurer Atty. Paul Vega, City Administrator Eduardo “Wardee” P. Quintos XIV, and City Legal Officer Atty. Luch R. Gempis Jr.
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