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CONSUNJI-LED DMCI-Project Developers Inc. (PDI) has
secured incentives from the Board of Investments for a
multimillion-peso low-cost mass housing project in Taguig City.
The project is expected to create
305 jobs, and will start commercial operation this month.
In its application, DMCI-PDI said
the money will be used for the construction of 744 low-cost housing
units of Rosewood Pointe Condominiums in Taguig, which will cost
P255 million. The company will develop a 2.1-hectare land and
construct eight medium-rise five-story buildings.
The housing units will have a
total floor area of 49,099 sqm with package prices ranging from P2
to P3 million for every unit. Pricing is based on the definition of
low-cost housing by Housing and Urban Development Coordinating
Council, according to the company.
DMCI-PDI’s primary market will
be middle-income families who live along the area but also target
young and starting families who are looking for affordable,
relatively low-cost, start-up quality houses and families that
reside in Makati and Ortigas.
The company also considers
overseas Filipino workers as its potential buyers.
The BOI has approved its
registration as a new developer of mass housing with nonpioneer
status and granted the company fiscal and nonfiscal incentives such
as a four-year income-tax holiday. Other incentives include
exemption from taxes and duties on imported capital equipment and
exemption from wharfage dues and export tax, duty and fees.
DMCI-PDI’s low-cost housing
project is under the infrastructure (mass housing projects)
segment of the BOI’s investment priority plan.
The developer is a wholly owned
subsidiary of the Consunji-led and publicly listed DMCI Holdings
Inc., which manages the parent firm’s real-estate business. It has
an authorized capital stock of about P3 billion and a subscribed
capital stock of P2 billion.
Besides Rosewood Pointe, DMCI is
also developing The Manors at Celebrity Place, a mixed townhouse and
medium-rise community project adjacent to the Celebrity Sports Plaza
in Loyola Heights, Quezon City.
--Angelo S. Samonte
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