MANILA, Philippines — Vice President Jejomar Binay lauded the Quezon City government for promoting public-private partnerships that give the poor a chance to have decent shelter.

In building socialized housing communities for the poor, Binay said the program contributes greatly in easing the problem of informal settlers in the city.

He urged the beneficiaries to avail themselves of Quezon City’s housing program.

Known as Bistekville 2, the project offers affordable homes which could be paid at a monthly amortization of P2,600 over a 30-year period.

Each dwelling unit has a lot area measuring 28 square meters, including a loft structure.

Tadeo Palma, secretary to the mayor, said the Quezon City government expects to complete construction of the project before the year ends.

Bistekville 2, located at a 4.4-hectare property in Sitio Looban, Selecta Compound in Barangay Kaligayahan, will have 953 housing units designed to benefit informal settler families, including those affected by demolition, public schoolteachers and an estimated 500 families already living in the area.

Of the 953 housing units that will be built, 95, including the model house, are nearing completion.

Since most of the beneficiaries are urban poor families, Pag-ibig Fund, which provides the take-out mechanism for the city’s housing project, has waived some of the requirements needed to facilitate the processing of ownership.

However, submission of barangay certification is required.

Bistekville 2, one of the dream housing projects of Mayor Herbert Bautista, is a joint venture between the city government, Phinma Property Holdings Inc. and landowner Ofelia Arce.

Palma, who also heads the Quezon City socialized housing task force, said the launching of Bistekville 2 will jumpstart the city’s big socialized housing program, this time as a flagship program of the city government.