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
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