Mass housing projects among BOI’s priorities

CEBU, Philippines — More mass housing projects in Cebu could be registered by the Board of Investments moving forward.

Mass housing is among the top priority sectors identified by BOI that are entitled to fiscal incentives.

While BOI encourages other investments in Cebu, housing remains one of expanding sectors, said Ellorence Cruz, officer-in-charge at BOI-Cebu, in a recent interview.

Last quarter, for instance, BOI registered at least four mass housing projects in Cebu and one in Negros Oriental.

These include Cebu Landmasters' mass housing developments in Naga City and San Fernando in Cebu, and Sibulan, Negros Oriental; Filinvest Land's housing project in Talisay City; and Community Developers and Construction Corp's mass housing in Cebu City.

Moreover, the BOI also said new hospitals emerge while others expand on the back of strong wellness demand in the provinces.

Allegiant Regional Care Hospitals Inc's new P710 million level 2 facility in Lapu-Lapu City, Cebu is slated to operate this month with a staff of 375.

Also, Allied Car Experts (ACE) Medical Center’s new P1 billion level 2 hospital in Bohol is scheduled to open in November 2018 with a manpower of 364.

Despite the global and local headwinds facing the Philippines, it is still poised to attract investments, said BOI chairman and Trade chief Ramon Lopez in an earlier statement.

He said the economy was strong enough to withstand these headwinds.

He said with the implementing rules and regulations (IRR) of the expanded Ease of Doing Business Act soon to be out and the roadshows of the Strategic Investment Priorities Plan (SIPP) already in full swing, the government will able to sustain its gains as “we continue to enact the necessary reforms and programs that would further ease business processes and make business more efficient which creates more jobs for our countrymen.”

For the first nine months of 2018, the BOI registered 11 projects worth P14.02 billion in Central Visayas.