By Louella D.
Desiderio (The Philippine Star) | Updated July 8, 2013
MANILA,
Philippines - Lumina Homes Inc., a unit of listed Vista Land and Lifescapes
Inc. is seeking incentives for a new housing project in Batangas.
The Board of
Investments (BOI) said Lumina Homes has filed an application for registration
with the agency “as a new developer of low cost mass housing project (Lumina
Phase 1) with a capacity of 158 low-cost mass housing units on a non-pioneer
status.”
The project
is located at Brgy. San Vicente, Sto. Tomas, Batangas.
Should its
application with the agency be approved, Lumina Homes can quality for
incentives such as income tax holidays.
The
government offers incentives to firms that invest in preferred sectors or
activities.
Under the
2012 Investment Priorities Plan (IPP), which serves as the country’s investment
promotions blueprint, mass housing is considered a preferred activity.
Lumina Homes
is partly-owned by Vista Land.
Vista Land,
the country’s largest homebuilder, caters to all income segments in the country
through its wholly-owned subsidiaries Brittany Corp., Crown Asia Properties
Inc., Camella Inc., Communities
PhilippinesInc. and Vista Residences Inc.
Its range of
product offering starts from below P1 million to P48 million.
As of the
first quarter, Vista Land’s net income amounted to P1.342 billion, 29 percent
higher than the P1.036 billion in the same period last year.
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