PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

BOI approves tax perks for more housing projects

Tuesday, February 17, 2009 [ ]

FOUR low-cost, mass-housing projects were awarded tax incentives and other perks by the Board of Investments (BOI) last week.

The BOI gave incentives to Crown Communities (Cebu) Inc. for its P146.212-million project called Camella Montserrat Subdivision. Two hundred fifty units would rise in 5.4 hectares of land in Pajac, Lapu-Lapu City, in Cebu province. The BOI said this project began commercial operations in January and has employed 146 people. This is Crown Communities’ ninth BOI-registered project.

The incentive-giving agency also granted perks to Firm Builders Realty Development Corp.’s (FBRDC) project dubbed Stone Haven Residences, worth P80.7 million. FBRDC would construct 402 houses in a 7.3-hectare track of land located in Barangay Granada, Bacolod City, Negros Occidental. Operations already commenced last month, with 270 workers on board. BOI records showed that FBRDC has 13 other low-cost housing projects registered with the agency since 2003.

Household Development Corp.’s two upcoming ventures likewise received incentives from the BOI. The company’s Camella Glenmont Subdivision would see 191 units rise along Sauyo Road, Barangay Sauyo, Novaliches, Quezon City. The total cost for this project is P163.414 million, and would generate 61 jobs when commercial operations start in March. Its Lessandra Subdivision, which costs P71.988 million, would involve the construction of 158 houses in a 1.53-hectare land in Buhay na Tubig, Imus, Cavite. This project began operations early this month with 100 employees, the board said. This is the company’s eighth BOI-registered project.--Ben Arnold O. de Vera


real estate central philippines
Copyright ©2008-2018