Friday, July 03, 2009 [ manilatimes.net ]
THE Board of Investments (BOI) said it granted tax incentives and other perks to three low-cost mass housing projects.
The BOI approved the registration of Forte Realty Corp.’s P50.95-million vertical housing project called Villa Alicia II. For this, Forte Realty will build a medium-rise, four-story condominium building with 65 residential units at a 747.8-square-meter tract of land in Zamora Street, Pasay City. This project will employ 72 people when commercial operations start this month.
Also, the incentive-giving agency granted perks to Casa Regalia Inc.’s Verona Subdivision. In this P45.5-million housing venture, Casa Regalia will construct 107 units in a 1.8-hectare land in Sitio Pantay, Barangay Dalig, Teresa, Rizal. The company will hire 58 workers when commercial operations begin also this month.
The BOI as well awarded tax incentives to Lynville Realty and Development Corp. for its P140.93-million housing project in Santa Cruz, Laguna. The company will put up 340 low-cost units in a 2.72-hectare tract of land. Commercial operations will start this month and199 people will be employed. The BOI said this is Lynville Realty and Development’s third project registered with the incentive-giving agency.
--Ben Arnold O. de Vera
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