Wednesday, October 22, 2008 [ manilatimes.net ]
By Ben O. de vera, Researcher
Four low-cost mass housing projects amounting to a total of P373.34 million were granted tax incentives and other perks by the Board of Investments last week.
According to BOI, 8990 Housing Development Corp. will invest P292.8 million in a housing project in Jagobiao, Mandaue City, Cebu. The complex, to be called Deca Homes Mandaue Prime Subdivision, will consist of 912 residential units in a 6.6-hectare piece of land. The company will employ 259 people when operations begin in November.
Meanwhile, Filinvest Land Inc. will put up two low-cost mass housing projects in Barangay Santa Maria, Santo Tomas, Batangas. The Summerbreeze Phase 2 development worth P37.622 million on 4.79 hectares of land will have 438 units and is expected to generate 280 jobs. The other development, the P20-million Palm Ridge 3 project, will need 138 workers to build 107 houses on 3.96 hectares of land. Both investments will start commercial operations next month.
Household Development Corp., on the other hand, has been given tax perks for its Frontera Subdivision, which will rise from a 3,151-square meter track of land in Las Piñas City at a cost of P22.88 million. The project is expected to generate 36 new jobs when the construction of its 37 housing units commences in November.
