MANILA, Philippines
— Davao-based property developer Mountain Haven Development, Inc. is seeking incentives from the Board of Investments (BOI) for its mass housing project.
In a published notice, the BOI said Mountain Haven “is applying for registration with the BOI as new developer of low cost mass housing project (Hidalgo Homes) with a capacity of 145 low-cost mass housing units on a non-pioneer status.”
The project is located at Brgy. Tigato, Buhangin District in Davao City.
If the application would be approved, the firm could enjoy incentives such as income tax holidays for its project.
The government is offering incentives to encourage investors to invest in certain economic activities.
Economic activities being promoted by the government are listed in the Investment Priorities Plan (IPP) released by the BOI every year.
Under the 2013 IPP currently being used, mass housing has been identified as a preferred activity.
Other preferred activities listed in the 2013 IPP are: agriculture or agribusiness and fisher, creative industries or knowledge-based services, shipbuilding, iron and steel, energy, infrastructure, research and development, green projects, motor vehicles, strategic projects, hospital or medical services, and disaster prevention, mitigation and recovery projects.
The government has yet to release the IPP for this year.
The proposed 2014 IPP submitted by the BOI to Malacañang in July has identified low-cost housing as a preferred activity.
Other sectors listed as preferred activities in the proposed 2014 IPP are manufacturing; agribusiness and fishery, services, energy, public infrastructure and logistics, and Public Private Partnership projects.
Formed in 1999, Mountain Haven is involved in real estate projects in Davao City.
source: Philstar
By Louella D. Desiderio | Philstar / Business - Published on Sep 9, 2014
