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THE Board of Investments recently granted tax
incentives and other perks to six low-cost mass housing projects
costing over P1 billion that will be implemented all over the
country.
P. A. Alvarez Properties and
Development Corp. will invest around P413.5 million in a housing
project in Bo. Laggam, San Pedro, Laguna, consisting of 1,267
residential units in a 13.3-hectare track of land. The complex, to
be named St. Joseph Village 10 Phase 3, will employ 430 people as
operations start this month.
Also, Stateland, Inc. will put up
a P307-million mass housing investment in Barangay Anabu II, Imus,
Cavite, which will involve the development of 4.3 hectares of land
and the construction of 202 houses. It is expected to generate 181
jobs when commercial operations begin in October.
Meanwhile, Crown Communities Inc.
has pledged P173.8 million to build 538 units in Lumbia, Cagayan de
Oro City. The housing project, called Portico II, will rise in a
12.4-hectare complex. Commercial operations begin this month, and
will create 297 new jobs.
Tax incentives were also awarded
to Regent Pearl Development Corp., which will develop four hectares
of land and construct 264 low-cost housing units for its
P81.4-million Bayview Homes project. It will employ 222 people, and
will start commercial selling in October.
Mandaue, Cebu-based Kenrich Development Corp. was also given tax
perks for its Villa Lorena Subdivision, which costs P22.9 million
and will rise in a 6,394-square meter track of land in Li-loan, Cebu.
Commercial selling of its projected 41 housing units begins in
November. The project is expected to generate 68 new jobs.
Casa Regalia Inc.’s San Marino
North Annex housing project was also granted tax incentives for its
P9.5-million investment that will see the construction of 29
residential units in 4,092 square meters of land, and will employ 20
persons.
According to BOI, these low-cost
mass housing projects would be put up through conventional
construction methods, and would utilize locally sourced materials.
These residential units are targeted to sell to members of the
working middle class and overseas Filipino workers.
BOI said it supports these
housing investments in response to the growing demand for affordable
living quarters.
--Ben Arnold O. de Vera
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