BOI approves perks for housing, cold storage projects
Darwin G. Amojelar
Tuesday, June 07, 2011
THE Board of Investments (BOI) on Monday said it approved tax perks for five housing projects and a cold storage facility.
In a statement, BOI said the five housing projects are worth a combined P2.9 billion and are expected to provide employment to around 1,200 people.
The proponents are Filinvest Land Inc., Duraville Realty and Development Corp., Household Development Corp. and Livingsprings Communities Realty & Development Corp.
“These projects prove that the housing boom is in full swing and goes a long way towards addressing the housing backlog for the public,” Gregory Domingo, secretary of Department of Trade and Industry and BOI chair said.
The P206.8 million Ocean Cove project, to be located in Talomo, Davao City, involves the development of 15.6 hectares of land and the construction of 118 housing units.
The other Filinvest project, the P2.1 billion San Remo Oasis, will be situated in Cebu Coastal Road, South Road Properties, Cebu City. The firm will develop 3.4 hectares of land and will construct eight medium-rise 5-storey buildings comprising 1,096 low-cost/economic housing units. The housing units will have an average floor area of 18.77 to 41.04 square meters.
Start of commercial operation is expected on June. employing 317 personnel.
Duraville’s Wellington Place Phase 10 in General Trias, Cavite involves 1.8 hectares of land and the construction of 263 low cost/economic housing units. With an aggregate investment of P119.8 million, operation is expected to have commenced last month, generating employment for 32 people.
Household’s Avisea Subdivision to be located in Valenzuela City comprises the development of 2.4 hectares of land and construction of 2-story townhouses, which will accommodate 181 low cost mass housing units. This P87.1 million project should have begun last month, employing 25 people.
The BOI also approved the Livingsprings’ Tres Palmas project in Taguig City, which involves 4,766 square meters of land and the construction of three 8-storey buildings with a total of 322 housing units. With an investment of P381.8 million, it will hit the ground running on August with a manpower requirement of 513 people.
Lastly, METS Logistics, Inc. gained the nod of BOI as an expanding operator of post harvest facilities, particularly cold storage and blast freeze facilities on-pioneer status.
The company has a total aggregate area of 11,052 square meters of cold storage, and 1,445 square meters of dry warehouse space in Carmona, Cavite.
It already has an existing facility, which comprises a cold storage with 8 rooms at 400 pallet position, processing room for repacking of meat products, and two blast freezing rooms at 4 pallet position.
METS will expand its operation to offer a cold storage facility with 6 rooms at 520-pallet position, processing room and two blast freezing rooms at 4-pallet position. The two facilities will have an aggregate capacity of 6,320 pallet positions.
The expansion will require an investment of P296.2 million with additional manpower of 24. Commercial operations is expected to begin on January 2012.
The facilities will use plastic pallets to ensure compliance with National Meat Inspection Services standards. It is also equipped with push back racking system for easy storage and retrieval of cargoes and an automated stainless storage doors with anti-lock mechanism to ensure minimal loss of temperature in the storage area.
Source: http://www.manilatimes.net/business/boi-approves-perks-for-housing-cold-storage-projects/
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