Villar housing unit seeks BOI perks

MANILA, Philippines - Low-cost residential property developer Communities Bohol, Inc. has filed an application with the Board of Investments (BOI) to qualify for incentives for a housing project.

The BOI said in a notice that Communities Bohol “is applying for registration with the BOI as a new developer of low-cost mass housing project (Camella Bohol)...on a non-pioneer status.”

Camella Bohol has a capacity of 332 low cost mass housing units, and is located in Tagbilaran City.

Among the perks the property developer can enjoy if its application with the BOI is approved, is exemption from payment of income tax for four years.

The government offers incentives to firms undertaking activities being promoted by the government under the Investment Priorities Plan (IPP).

The extent of entitlement of incentives is based on the project’s net value added, job generation, multiplier effect and measured capacity.

Among the preferred activities which can be given incentives under the 2012 IPP is mass housing.

Communities Bohol is a subsidiary of listed firm Vista Land & Lifescapes, Inc.

Communities Bohol is under the business unit, Communities Philippines, Inc.

Communities Philippines offers residential properties outside Mega Manila in the low-cost, affordable and middle market segments.

Residential properties of Communities Philippines cost between P800,000 to P3.5 million.

Communities Philippines offers housing under the brands Camella and Crown Asia.