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5 mass housing projects worth P2.9 billion receive perks

06/08/2011 [ ]

Five housing projects worth a combined P2.9 billion and providing employment to around 1,200 personnel recently got the approval of the Board of Investments (BoI) for the granting of state incentives.

These projects include those of Filinvest Land Inc. (Ocean Cove and San Remo Oasis-Cebu projects), Duraville Realty and Development Corp. (Mary Cris Complex 10), Household Development Corp. (Avisea Subdivision) and Livingsprings Communities Realty and Development Corp. (Tres Palmas). “These projects prove that the housing boom is in full swing and goes a long way towards addressing the housing backlog for the public,” Trade and Industry Secretary and BoI chairman Gregory Domingo said.

The P206.8-million Ocean Cove project, to be located in Talomo, Davao City, involves the development of 15.6 hectares of land and the construction of 118 housing units. Ocean Cove offers basically a Walnut house model with a lot area measuring 118 square meters to 224 square meters with a floor area of 116 square meters. Each unit will be composed of three bedrooms, one toilet and bath already tiled, living room, dining area, and provision for one-car garage, kitchen area and roof deck. Start of commercial operation is slated for May 2011 involving 188 personnel.

The other Filinvest project, the P2.1-billion San Remo Oasis, will be situated in Cebu Coastal Road, South Road Properties, Cebu City. The firm will develop 3.4 hectares of land and will construct eight medium-rise (five-story) buildings comprising 1,096 low-cost/economic housing units. The housing units will have an average floor area of 18.77 square meters to 41.04 square meters. Start of commercial operation is expected on June 2011 employing 317 personnel.

Duraville’s Wellington Place (Mary Cris Complex) Phase 10 in General Trias, Cavite. Involves 1.8 hectares of land and will construct 263 low cost/economic housing units. With an aggregate investment of P119.8 million, operation is expected to commence on May 2011 generating employment for 32 people.

Household’s Avisea Subdivsion to be located in Valenzuela City comprises the development of 2.4 hectares of land and construction of two-story townhouses, which will accommodate 181 low cost mass housing units. This P87.1 million project will start the ball rolling on May 2011 employing 25 employees.

Rounding off these housing approvals is Livingsprings’ Tres Palmas in Taguig City involves 4,766 square meters of land and will construct three eight-story buildings with a total of 322 housing units. With a total investment of P381.8 million, it will hit the ground running in August 2011 with a manpower requirement of 513 people. Ayen Infante

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