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State-owned Development Bank of the Philippines (DBP) has released a P900-million loan to Cebu-based developer Johndorf Ventures Corporation (JVC) for the construction of 39,000 housing units by 2025.
Affordable housing developer Johndorf Ventures Corporation (JVC) was established in Iligan City by the Sy-Lim Family in the year 1986. I Photo: Johndorf Facebook
DBP president and Chief Executive Officer, Michael O. de Jesus said that the JVC funding support is part of its Building Affordable Homes Accessible to Every Filipino (BAHAY) Program.
“We are pleased to formalize this partnership to help boost the country’s housing sector,” de Jesus said.
“This also serves as a testament to DBP’s goal of making inclusive, safe, resilient, and sustainable cities and human settlements through responsive financing,” he added.
