By Louella D. Desiderio (The
Philippine Star) | Updated October 29, 2013 - 12:00am
MANILA, Philippines - Two property
developers are seeking tax perks from the Board of Investments (BOI) for their
mass housing projects.
In a published notice, the BOI said
Household Development Corp., a subsidiary of Vista Land and Lifescapes Inc.,
“is applying for registration with the BOI as an expanding developer of
low-cost mass housing project (Camella Tanza) with a capacity of 1,046 low-cost
mass housing units on a non-pioneer status.”
The project is located at Brgy. Bagtas
in Tanza, Cavite.
In a separate notice, the BOI said
another firm, P.A. Metro Residence Builders Inc. (PAMRBI), has likewise filed
an application for registration with the agency as an expanding developer of
two low-cost mass housing projects on a non-pioneer status.
The application covers The North Grove
Phase 2 which has 262 units and The North Grove Phase 3 which has 168 units,
both located in Caloocan City.
Should the BOI approve the
applications, the two firms can enjoy fiscal incentives such as income tax
holidays.
Mass housing is among the preferred
activities in the BOI’S 2012 Investment Priorities Plan (IPP).
Firms that invest in activities listed
in the 2012 IPP are being offered incentives by the government.
This, as the government wants to
encourage companies to make investments in sectors which are seen to generate
employment and help achieve economic growth.
The 2012 IPP’s 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.
Household Development is under one of
Vista Land’s business units, Camella Homes Inc.
Aside from Camella Homes, Vista Land’s
other business units are Brittany Corp., Communities Philippines Inc., Crown
Asia Properties and Vista Residences Inc.
On the other hand, 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.
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