State pension fund Government Service Insurance System said Wednesday it sold for P258 million its 14,000-square-meter property in Sta. Mesa,
Manila to the Social Housing Finance Corp. to pave the way for the construction of a Pambansang Pabahay high-rise condominium project.
“We didn’t think twice about selling the GSIS property to SHFC…,” GSIS president and general manager Wick Veloso said, adding that the fund fully supports the goal of President Ferdinand Marcos Jr. to address the housing backlog in the country. The lease with option to buy program allows potential homeowners to acquire a GSIS property without an initial down payment where they can choose from 15,000 residential properties available nationwide.
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