BOI okays perks for Iloilo low-cost housing project

MANILA, Philippines - The Board of Investments (BOI) has approved the grant of incentives to the P200-million mass housing project of IVQ Landholdings Inc.

IVQ Landholdings will build a low-cost housing project dubbed as North Springville Townhomes in Brgy. Tacas, Iloilo City.

The project falls under the mass housing category of the government’s Investments Priorities Plan (IPP). Initially, the BOI wanted to remove the low-cost housing component of the IPP especially in the metropolis because of the congestion problem. However, the destruction brought about by the twin typhoons that hit the country last year made it necessary to include mass housing in the 2010 IPP.

The project involves the construction of 300 low cost/economic housing in 1.98 hec-tares of land. Commercial operations are expected to start next month. 

The land development would be based from BP 220 rules and standards, comprising basically of lot areas measuring 40 square meters each. The housing units will be townhouses each with a floor area of 44 square meters, two bedrooms, tiled toilet and bath, living room, dining area, tiled kitchen counter with stainless kitchen sink and front lawn.

The houses will be constructed using conventional system with concrete hollow block walls, concrete floor slab, board ceiling, corrugated GI roofing, hollow core doors and steel casement glass windows.

IVQ Landholding Inc. is owned by the Pama family led by its president, Ian Eric S. Pama. The firm has four other existing mass housing projects around Iloilo province but these are not BOI-registered.