Manila City Mayor Francisco “Isko” Moreno Domagoso and Land Bank of the Philippines Vice President and Chief Trust Officer Atty. Mario Sabino Jr. signed an agreement to help grow the city’s housing fund and provide a sustainable source of financing for its in-city vertical housing program.
The agreement allows the City Government to invest around P50 million in available funds from the Manila Urban Settlements Office (MUSO) Housing Trust Fund through LandBank.
The funds 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 is authorized to negotiate with LandBank for the investment of available MUSO Housing Trust Fund resources.
The fund is intended exclusively to finance, manage and disburse resources for the City’s housing and settlement programs.
Domagoso said the investment is unique because the money being reinvested did not come from taxpayers but from the beneficiaries themselves.
“Ito very unique kasi hindi siya tax money.”
“Ito very unique kasi hindi siya tax money. This is the money entrusted by the beneficiary to the City,” the mayor said.
He described the agreement as the beginning of a long-term strategy to sustain and expand Manila’s in-city vertical housing program.
“This is the start of a long journey of in-city vertical housing.”
“This is the start of a long journey of in-city vertical housing,” Domagoso said.
He said the City’s ultimate goal is to provide more families living in informal settlements and rental accommodations with the opportunity to have decent and secure housing within Manila.
“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 added.
For Domagoso, the housing fund is not only about financing existing projects but creating a continuing source of resources that can help the City build more homes in the future.
The signing ceremony was witnessed by City Treasurer Atty. Paul Vega, City Administrator Wardee Quintos XIV, and City Legal Officer Atty. Luch Gempis Jr.
