Villar low-cost housing firm seeks tax incentives

MANILA, Philippines - A subsidiary of Villar’s Vista Land and Lifescapes Inc. is asking for tax perks for its mass housing project in Cagayan de Oro.

The Board of Investments (BOI), in a published notice, said it has received from Communities Cagayan Inc., an application for registration “as an expanding developer of low cost mass housing project (La Mirande Crest) with total capacity of 218 low-cost mass housing units on a non-pioneer status.”

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

If the application is approved, Communities Cagayan could enjoy incentives such as income tax holidays.

Incentives are being given by the government to firms that invest in preferred activities.

Mass housing is among the preferred activities listed in the 2012 Investment Priorities Plan (IPP).

Last month, Communities Cagayan filed an application for registration with the agency for its other project, Lessandra Heights.

Lessandra Heights, which is also located in Cagayan de Oro City, has a capacity of 690 low-cost mass housing units.

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

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

Its provincial development efforts started in Cagayan de Oro, Cebu and Pangasinan.

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