By Louella D.
Desiderio (The Philippine Star) | Updated April 25, 2013 - 12:00am
MANILA,
Philippines - Two property developers have filed applications with the Board of
Investments (BOI) to qualify for incentives for their mass housing projects.
In a
published notice, the BOI said P.A. Metro Residence Builders, Inc. (PAMRBI) “is
applying for registration with the BOI as an expanding developer of low-cost
mass housing project (East Residences-Ortigas II) with a capacity of 212
low-cost mass housing (condominium) units on a non-pioneer status with project
site at Ciudad Grande II, Monaco Street, Ortigas Extension, Pasig City.”
The BOI said
in a separate notice PAMRBI is likewise seeking incentives as a new developer
of low cost mass housing project Amaranthe Project Phase I in Brgy. San Martin
de Porres, Parañaque City, on a non-pioneer status.
The Amaranthe
will have a capacity of 280 low-cost mass housing units.
Italpinas,
Euroasian Design and Eco-Development Corp., meanwhile wants to qualify for
incentives as an expanding developer of low cost mass housing project Primavera
Residences Tower B, which is located at Pueblo De Oro Business Park in Cagayan
de Oro City on a non-pioneer status.
The Primavera
Residences Tower B will have a total capacity of 142 units.
If the
applications are approved, the firms could enjoy incentives such as exemption
from payment of income tax holidays as well as other perks.
Under the
2012 Investment Priorities Plan, mass housing is a preferred activity and
investments in such would allow a firm to qualify for incentives from the
government.
PAMRBI is a
subsidiary of P.A. Alvarez Properties and Development Corp. (PAAPDC) a firm
engaged in the development of residential properties and estates which started
in Laguna.
PAMRBI was
created after PAAPDC, decided to develop projects within Metro Manila due to
rising demand in the area.
Italpinas
meanwhile, is a company engaged in real estate investment development,
architectural as well as design eco services.
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