By Louella D. Desiderio (The
Philippine Star) Updated October 29, 2012 12:00 AM
MANILA, Philippines - Communities
Leyte Inc., a unit of Vista Land & Lifescapes Inc., has filed an
application with the Board of Investments (BOI) to qualify for tax perks for a
mass housing project.
In a published notice, the BOI said
Communities Leyte “is applying for registration with the BOI as an expanding
developer of low cost mass housing project (Camella Ormoc) with a capacity of
216 low-cost mass housing units on a non-pioneer status.”
The mass housing project is located at
Barangay Tambulilid in Ormoc City.
Should the application be approved,
Communities Leyte will qualify for income tax holidays.
Mass housing is listed under the
preferred activities of the 2012 Investment Priorities Plan.
According to industry reports, the
country’s housing backlog is expected to reach about 4.65 million units by the
end of 2016.
Communities Leyte is a wholly-owned
unit of Vista Land.
Earlier, Communities Pampanga, which
is also owned by Vista Land, filed its application for registration with the
BOI for its low-cost mass housing projects in Bataan and Pampanga.
The applications cover the Camella
Bataan project which will involve development of 298 low-cost mass housing units,
and the Camella Fiorenza project which has a capacity of 52 low-cost mass
housing units.
Communities Leyte and Communities
Pampanga are both under Communities Philippines Inc., a subsidiary of Vista
Land.
Communities Philippines offers
affordable residential properties worth P800,000 to P3.5 million outside the
Mega Manila area.
Aside from Communities Philippines,
Vista Land’s other business units are Brittany, Crown Asia, Camella Homes and
Vista Residences.
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