PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

Amaia seeking incentives for Cavite mass housing project

Posted on August 01, 2014 07:46:39 PM ] BusinessWorld Online ]
 AYALA-controlled Amaia Corp. is seeking government incentives for a real estate project in Cavite, the Board of Investments (BoI) said in a notice published in a newspaper on Friday.

The application was for a low-cost mass housing project called Amaia Scapes General Trias with 249 units in Barangay Santiago, General Trias, Cavite.

Should the company’s application be approved, it will enjoy an income tax holiday, duty-free importation of capital equipment, be authorized to employ foreign nationals in supervisory, technical or advisory positions for five years from date of registration; and undergo simplified customs procedures for importation of equipment and raw materials.

BoI is the agency that approves the registration of projects that qualify for such incentives.

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 submitted the new list to the Office of the President last month for approval. It covered, among others, manufacturing; agribusiness and fishery; services; energy; public infrastructure and logistics; and public-private partnership projects.

Apart from Amaia Scapes, other residential projects by Amaia Land are the Amaia Skies-branded homes in Cavite, Tarlac, Batangas, Laguna, Quezon, and Negros Occidental, and the mid-rise condominiums carrying the Amaia Steps brand in Parañaque, Novaliches, Calamba, and Pasig. -- Daryll Edisonn D. Saclag

real estate central philippines
Copyright ©2008-2018