By BERNIE CAHILES-MAGKILAT
April 20, 2009, 6:07pm [ Manila Bulletin Online ]
Three mass housing projects with combined investments of P694.717 million were granted tax and fiscal incentives by the Board of Investments.
Approved were the low cost mass housing projects of CHMI Land Inc., K. Global Realty & Development Corp. and Surewell Equities Inc.
CHMI Land is developing a 4.9 hectare property in barangay Palo-Alto in Calamba, Laguna into the Oak Hill subdivision.
With a project cost of P282.117 million, CHMI will construct 622 housing units with lot area of between 40 to 60 square meter. The housing units are designed either as one-storey or two-storey row houses.
The project is going to hire 141 workers during the construction period. K. Global Realty, majority-owned by Vicente Africa Jr., is investing P285 million for the development of a 4,409 square meter lot into an 8-storey buildings for the 425 housing units.
The housing units of this development dubbed as Cherry Orchard Suites 1 & 2 will be basically studio or one-bedroom type.