Posted on June 15, 2014 10:03:39 PM [
BusinessWorld Online ]
PROPERTY FIRM Wee Community
Developers, Inc. is seeking government incentives for its first low-cost
housing project in Quezon City, according to a newspaper notice issued by the
Board of Investments (BoI) yesterday.
“Notice is hereby given that Wee Community Developers, Inc. (Wee Comm)…
is applying for registration with the Board of Investments as a new developer
of low-cost mass housing project with a capacity of 66 units on a non-pioneer
status…” the BoI said.
Should the company’s application be
approved, it will enjoy an income tax holiday of four years.
The incentives cover Centro Residences
-- the company’s first housing project in Quezon City.
According to Wee Comm’s Web site, the
company “intends to broaden its market by expanding to Quezon City. As the
company shifts from San Juan City to Quezon City, Wee Comm shall adapt to the
market of the new area. Projects in Quezon City shall be offered to a wider
market of middle income Filipino workers.”
Since the company’s establishment in
2008, it launched a total of four projects in San Juan City: The First Baron
Residences, The Baron’s Place, Baron 3 Gardens, and Baron Luxe Residences.
The First Baron Residences and The
Baron’s Place have already been turned over while the last two projects are
expected to be delivered this year.
The turnover for Centro Residences, on
the other hand, is expected to take place in September 2015.
Mass housing is covered in the 2013
Investment Priorities Plan (IPP) the government released in November last year
which identifies sectors that can avail of state incentives.
Other sectors identified in the IPP
are export; agribusiness and fisheries; creative industries or knowledge-based
services; shipbuilding; iron and steel; infrastructure; research and
development; green projects; manufacture of motor vehicles; strategic projects;
hospital and medical services; as well as disaster prevention, mitigation, and
recovery projects.
The 2013 IPP came into force on Dec. 5
and its implementing rules and regulations (IRR) were released a week later. It
will remain in effect until the 2014 IPP is released.
The Trade department aims to submit
this year’s IPP to the Office of the President for approval this month.
The preliminary list of preferred
activities showed seven sectors to be covered by the 2014 IPP: manufacturing;
agribusiness and fishery; services; energy; public infrastructure and
logistics; and public-private partnership projects. -- Daryll Edisonn D. Saclag
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