Social Housing Finance Corporation (SHFC) has awarded a check worth P75.1 million for the purchase of land in Cauayan City, Isabela that will benefit a total of 588 families from the Labinab Heights Homeowners Association, Inc. (HOAI). In a ceremony held on May 14, SHFC North Luzon Operations Vice President Jones Tomas made the payment to the landowners for the 97,167-square meter property in Barangay Labinab.

The development came less than a year after SHFC and the local government of Cauayan led by Mayor Bernard Faustino Dy signed a memorandum of understanding for the implementation of the Community Mortgage Program (CMP) in the city. The deal is expected to address the housing problems in Cauayan through socialized shelter initiatives.

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