BOI extends tax, other perks to housing projects
Last Updated (Wednesday, 31 December 1969 17:59) Thursday, 21 May 2009 23:49
The Board of Investments (BOI) said it extended tax and other perks to five mass housing projects.
In a statement, the incentives-giving agency said it awarded tax incentives and other perks to DMCI Project Developers Inc. for its P3.017-billion vertical housing venture called Tivoli Garden Residences. For this project, the proponent will construct three high-rise buildings at a 2.1-hectare tract of land in Coronado Street, Barangay Hulo, Mandaluyong City. Each building will have between 24- and 28-story. A total of 1,260 units, ranging from studios to two- to three-bedroom types, will be put up. Commercial operations will begin next month, and the company will hire 300 workers, the BOI said.
In a statement, the incentives-giving agency said it awarded tax incentives and other perks to DMCI Project Developers Inc. for its P3.017-billion vertical housing venture called Tivoli Garden Residences. For this project, the proponent will construct three high-rise buildings at a 2.1-hectare tract of land in Coronado Street, Barangay Hulo, Mandaluyong City. Each building will have between 24- and 28-story. A total of 1,260 units, ranging from studios to two- to three-bedroom types, will be put up. Commercial operations will begin next month, and the company will hire 300 workers, the BOI said.
Also enjoying perks was Posh Properties Development Corp.’s P1.268-billion SoleMare Parksuites project. Posh Properties Development, a subsidiary of Anchor Land Holdings Inc., will construct two 16-story buildings at a 6,281-square-meter property in Bradco Avenue, Aseana Business Park, Parañaque City. The BOI said the first two floors of each building will be for commercial use, while all the other levels will be allotted for a total of 912 housing units. This project will generate 340 jobs when commercial operations start in May 2012.
The BOI also approved the registration of 8990 Housing Development Corp.’s P133.8-million Deca Homes-Minglanilla Homes Subdivision in Tungkil, Minglanilla, Cebu, wherein 187 units will be constructed in a 27,399-square-meter land. This project will begin commercial operations this month and will employ 261 people.
Prohomes Development Inc.’s P105-million Corinthians Subdivision also bagged incentives, and would involve the construction of 404 houses in a 2.77-hectare tract of land in Sitio Suba Masulog, Barangay Basak, Lapu-Lapu City. Commercial operations will start in August and the company will hire 349 workers. The BOI said this is Prohomes Development’s third mass housing project registered with the incentive-giving agency, all of which are in the same locality.
Johndorf Ventures Corp.’s P89.1-million La Bienvenida Subdivision in Barangay Tungkop, Minglanilla, Cebu, was also granted perks by the BOI. The company will construct 311 units in a 2.18-hectare land beginning July, and will employ 325 people.
