By
Louella D. Desiderio (The Philippine Star) | Updated August 26, 2013 - 12:00am
MANILA,
Philippines - Property developer Cebu Landmasters Inc. is asking for incentives
from the government for a mass housing project.
In a
published notice, the Board of Investments (BOI) said the firm “is applying for
registration with the BOI as a new developer of low-cost mass housing project
(Mivesa Garden Residences) with a capacity of 473 low-cost mass housing units
on a non-pioneer status.”
The
project is located at Salinas Drive Extension, Lahug in Cebu City.
The
Mivesa Garden Residences is a garden community occupying a prime 1.8-hectare
property.
The
three-phase project which has a total of seven mid-rise buildings ranging from
six to 10 floors, has pocket parks, a meditation garden as well as pedestrian
pathways and jogging paths.
Cebu
Landmasters can qualify for incentives such as income tax holidays for four
years once its application is approved by the BOI.
Firms
that invest in activities listed under the Investment Priorities Plan (IPP) can
enjoy incentives from the government.
The
2012 IPP lists mass housing as a preferred activity.
Other
preferred activities in the list 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.
The
2013 IPP has yet to be released but BOI officials said earlier it would just be
a carryover of last year’s list.
Cebu
Landmasters, a home-grown real estate development company in Cebu, was
incorporated in 2003.
The
firm is developing residential subdivisions under the San Josemaria Villages brand,
as well as vertical projects which include Asia Premier Residences, Base Line
Residences, Midori Residences and Park Centrale.
Apart
from projects in Cebu, the company is planning to expand to other locations in
the Visayas as well as in Mindanao.
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