Villar low-cost housing units seek BOI perks

MANILA, Philippines - Two units of listed Vista Land and Lifescapes Inc. are seeking tax perks from the government for their mass housing projects.

In a published notice, the Board of Investments (BOI) said “Household Development Corp... is applying for registration with the BOI as a new developer of low cost mass housing project (Camella Montego) with a capacity of 299 low-cost mass housing units on a non-pioneer status.”

The project is located in Barangay San Isidro in Antipolo City.

In a separate notice, the BOI said Communities Batangas, Inc. filed an application for registration with the agency as an expanding developer of low-cost mass housing projects Camella Lipa Phase 2 and Camella Lipa Phase 3, on a non-pioneer status.

The two projects which have a combined capacity of 344 low-cost mass housing units are located in Lipa City, Batangas.

The companies can enjoy fiscal incentives such as exemption from payment of income taxes once the BOI approves the applications.

The government offers incentives for preferred activities that are part of its investment promotions blueprint, the 2012 Investment Priorities Plan (IPP).

Mass housing has been identified as one of the activities being promoted to attract investments.

Apart from mass housing, the 2012 IPP lists the following as preferred activities: agriculture, agribusiness and fishery; creative industries or knowledge-based services; shipbuilding; energy; infrastructure; research and development; green projects; motor vehicles; strategic projects; disaster prevention, mitigation and recovery projects; iron and steel; and hospital or medical services.

Household Development is under Camella Homes Inc., one of Vista Land’s business units.

Communities Batangas meanwhile falls under the business unit Communities Philippines Inc.

Vista Land’s other business units are Brittany Corp., Crown Asia Properties, and Vista Residences Inc.