Vista Land unit seeks BOI registration

MANILA, Philippines - A unit of Vista Land and Lifescapes, Inc. is applying for registration with the Board of Investments (BOI) for a low-cost housing project in Cagayan de Oro.

“Communities Cagayan, Inc., …is applying for registration with the Board of Investments as an expanding developer of low cost mass housing project (Lessandra Heights – Cagayan de Oro)...on a pioneer status,” the BOI said in a published notice.

The project is located in Brgy. Lumbia in Cagayan de Oro City.

It has a capacity of 690 low cost mass housing units.

The company would qualify for perks such as exemption from payment of corporate income tax for six years should the BOI approve the application for registration.

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

The 2012 IPP lists mass housing as a preferred activity.

Other preferred activities are 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.

Communities Cagayan is under Vista Land’s business unit Communities Philippines Inc.

Communities Philippines offers low-cost and affordable residential properties outside the Mega Manila area.

These residential properties are priced between P800,000 to P3.5 million.

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