MANILA, Philippines - A unit of the country’s largest home builder Vista Land and Lifescapes Inc. is applying for incentives from the Board of Investments (BOI) for a project in Batangas.
“Communities Batangas Inc. ... is applying for registration with the BOI as an expanding developer of low cost mass housing project (Camella Lipa Heights) with a total capacity of 646 low-cost mass housing units on a non-pioneer status,†the agency said in a published notice.
The application filed by Communities Batangas is for its project located on Brgy. Balintawak in Lipa City.
The firm would enjoy incentives such as exemption from payment of income tax when its application is approved by the BOI.
The BOI offers incentives such as income tax holidays and other benefits to encourage investments to be made in preferred economic activities.
The activities which could qualify for BOI incentives are listed in the Investment Priorities Plan (IPP) which is released every year.
Under the 2012 IPP which is currently being used by the BOI, mass housing is identified as a preferred activity.
Other preferred activities in the IPP 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.
It also has a mandatory list covering industries that require their inclusion as provided for under existing laws and covers export activities as well as priority activities identified by the Regional BOI of the Autonomous Region in Muslim Mindanao.
The 2013 IPP, which retained activities listed in the 2012 list, was published last week.
BOI chairman Gregory Domingo said the agency intends to release the implementing guidelines for the 2013 IPP within two weeks.
Communities Batangas is under Communities Philippines Inc., a business unit of Vista Land.
Communities Philippines which was established in 1991, offers low-cost and affordable residential properties outside the Mega Manila area.
Vista Land’s other business units are Brittany Corp., Camella Homes Inc., Crown Asia Properties, and Vista Residences Inc.