By Louella D.
Desiderio (The Philippine Star) | Updated April 20, 2013 - 12:00am
MANILA,
Philippines - A unit of Vista Land and Lifescapes, Inc. is applying for
registration with the Board of Investments (BOI) for a low-cost housing project
in Cagayan de Oro.
“Communities
Cagayan, Inc., …is applying for registration with the Board of Investments as
an expanding developer of low cost mass housing project (Lessandra Heights –
Cagayan de Oro)...on a pioneer status,” the BOI said in a published notice.
The project
is located in Brgy. Lumbia in Cagayan de Oro City.
It has a capacity
of 690 low cost mass housing units.
The company
would qualify for perks such as exemption from payment of corporate income tax
for six years should the BOI approve the application for registration.
The
government offers incentives for preferred activities part of its investment
promotions blueprint, the 2012 Investment Priorities Plan (IPP).
The 2012 IPP
lists mass housing as a preferred activity.
Other
preferred activities are agriculture, agribusiness and fishery; creative
industries or knowledge-based services; shipbuilding; energy; infrastructure;
research and development; green projects; motor vehicles; strategic projects;
disaster prevention, mitigation and recovery projects; iron and steel; and
hospital or medical services.
Communities
Cagayan is under Vista Land’s business unit Communities Philippines Inc.
Communities
Philippines offers low-cost and affordable residential properties outside the
Mega Manila area.
These
residential properties are priced between P800,000 to P3.5 million.
Apart from
Communities Philippines, Vista Land’s other business units are Brittany Corp.,
Crown Asia Properties, and Vista Residences Inc.
_______________________________________________________
