Vista Land unit seeks BOI perks for housing proj

MANILA, Philippines - Household Development Corp., a subsidiary of Vista Land & Lifescapes Inc., is seeking incentives for a mass housing project in Cavite.

“Notice is hereby given that Household Development Corp... is applying for registration with the Board of Investments (BOI) as a new developer of low cost mass housing project (Lessandra General Trias) with a capacity of 285 low-cost mass housing units on a non-pioneer status,” the BOI said in a published notice.

The project is located at Brgy. Santiago, General Trias in the province of Cavite.

Once its application for registration for the project is approved, Household Development will be qualified for fiscal incentives such as income tax holidays for four years.

Among the activities that can be given incentives by the government is mass housing.

Mass housing is listed as one of the preferred activities under the 2012 Investment Priorities Plan (IPP) which identifies areas being promoted by the government to attract investments.

According to industry reports, the housing backlog in the country is seen to reach about 4.65 million units by the end of 2016.

Household Development, which is under Camella Homes Inc., is wholly-owned by Vista Land.

Vista Land is the holding company of the Vista Group which is engaged mainly in the development of residential subdivisions as well as construction of housing and condominium units.

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

Communities Pampanga Inc. and Communities Leyte Inc., which are also owned by Vista Land, have filed applications for registration with the BOI for mass housing projects earlier this year.

Communities Pampanga’s application covers the Camella Fiorenza project which has a capacity of 52 low-cost mass housing units, and Camella Bataan which involves development of 298 units.

Communities Leyte’s application meanwhile, covers Camella Ormoc which is a 216 low-cost mass housing  project.