By Louella D.
Desiderio (The Philippine Star) | Updated December 10, 2012 - 12:00am
MANILA,
Philippines - Household Development Corp., a subsidiary of Vista Land &
Lifescapes Inc., is seeking incentives for a mass housing project in Cavite.
“Notice is
hereby given that Household Development Corp... is applying for registration
with the Board of Investments (BOI) as a new developer of low cost mass housing
project (Lessandra General Trias) with a capacity of 285 low-cost mass housing
units on a non-pioneer status,” the BOI said in a published notice.
The project
is located at Brgy. Santiago, General Trias in the province of Cavite.
Once its
application for registration for the project is approved, Household Development
will be qualified for fiscal incentives such as income tax holidays for four
years.
Among the
activities that can be given incentives by the government is mass housing.
Mass housing
is listed as one of the preferred activities under the 2012 Investment
Priorities Plan (IPP) which identifies areas being promoted by the government
to attract investments.
According to
industry reports, the housing backlog in the country is seen to reach about
4.65 million units by the end of 2016.
Household
Development, which is under Camella Homes Inc., is wholly-owned by Vista Land.
Vista Land is
the holding company of the Vista Group which is engaged mainly in the
development of residential subdivisions as well as construction of housing and
condominium units.
Apart from
Camella Homes and its subsidiaries, Vista Land’s other business units are
Brittany Corp., Crown Asia Properties, Vista Residences Inc. and Communities
Philippines Inc. and its subsidiaries.
Communities
Pampanga Inc. and Communities Leyte Inc., which are also owned by Vista Land,
have filed applications for registration with the BOI for mass housing projects
earlier this year.
Communities
Pampanga’s application covers the Camella Fiorenza project which has a capacity
of 52 low-cost mass housing units, and Camella Bataan which involves
development of 298 units.
Communities
Leyte’s application meanwhile, covers Camella Ormoc which is a 216 low-cost
mass housing project.
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