BoI Approves P4.634 Billion in Low-Cost Housing Projects

Strategic Insights -

The Board of Investments (BoI) has approved P4.634 billion worth of projects, primarily focused on low-cost mass housing developments, a sector that continues to receive tax and fiscal incentives from the government. The approved projects include five housing projects and one furniture export project, showcasing the government's efforts to address the country's housing needs. DMCI Project Developers Inc. leads the housing project approvals with a P3.017 billion project in Mandaluyong City, while Posh Properties Development Corp. develops a P1.268 billion housing project in Parañaque City.

Key Takeaways:

  • The BoI has approved P4.634 billion worth of projects, with five housing projects and one furniture export project.
  • DMCI Project Developers Inc. has been approved for a P3.017 billion project in Mandaluyong City, which will construct three high-rise buildings with 1,260 housing units.
  • Posh Properties Development Corp. has been approved for a P1.268 billion project in Parañaque City, which will develop a 16-storey building with 912 housing units.
  • The projects are expected to create jobs, with DMCI employing 300 workers and starting operation in June, while Posh Properties will employ 340 people and start operation this month.
  • The other approved housing projects include 8990 Housing Development Corp., Prohomes Development Inc., and Johndorf Ventures Corp.
  • The furniture export project, approved for Lagopa Manufacturing Inc., will start operation in October and employ 92 people.

Statistics:

  • Total approved projects: P4.634 billion
  • Number of housing projects: 5
  • Number of furniture export projects: 1
  • Total housing units to be constructed: 3,446 (1,260 + 912 + 187 + 404 + 311)

Sources:

  • "BoI Approves P4.634 Billion in Low-Cost Housing Projects" (Business Mirror, exact date not specified)
  • Business Mirror: "BoI approves P4.634 billion in low-cost housing projects"