MANILA, Philippines - Lumina Homes Inc., a unit of listed Vista Land and Lifescapes Inc. is seeking incentives for a new housing project in Batangas.
The Board of Investments (BOI) said Lumina Homes has filed an application for registration with the agency “as a new developer of low cost mass housing project (Lumina Phase 1) with a capacity of 158 low-cost mass housing units on a non-pioneer status.â€
The project is located at Brgy. San Vicente, Sto. Tomas, Batangas.
Should its application with the agency be approved, Lumina Homes can quality for incentives such as income tax holidays.
The government offers incentives to firms that invest in preferred sectors or activities.
Under the 2012 Investment Priorities Plan (IPP), which serves as the country’s investment promotions blueprint, mass housing is considered a preferred activity.
Lumina Homes is partly-owned by Vista Land.
Vista Land, the country’s largest homebuilder, caters to all income segments in the country through its wholly-owned subsidiaries Brittany Corp., Crown Asia Properties Inc., Camella Inc., Communities PhilippinesInc. and Vista Residences Inc.
Its range of product offering starts from below P1 million to P48 million.
As of the first quarter, Vista Land’s net income amounted to P1.342 billion, 29 percent higher than the P1.036 billion in the same period last year.