Manila, Aug. 28 -- State-owned Development Bank of the Philippines (DBP) extended a PHP815-million term loan to a mass housing developer for the construction of three residential buildings in Bulacan province.

In a statement Thursday, DBP President and Chief Executive Officer Michael de Jesus said the funding assistance to Bright Homes & Realty Corporation is under its Credit Facility for the 4PH Program (BAHAY-4PH) specifically designed to mobilize resources for the Bagong Pilipinas - Pambansang Pabahay para sa Pilipino (4PH) Program of the Marcos administration.

Bright Homes & Realty Corporation is a 30-year-old housing firm and specializes in affordable mass housing development.

Its proposed three residential buildings will rise in ...