MANILA, Philippines – Ayala Land Inc.’s mass housing unit is seeking incentives from the Board of Investments (BOI) for the expansion of its project in Quezon City.
The BOI said Amaia Land Corp. “is applying for registration with the BOI as expanding developer of low-cost mass housing project (Amaia Skies Cubao Tower 3) with a total capacity of 1,043 low-cost mass housing units on a non-pioneer status.”
The project is located at EDSA and 5th Avenue, Brgy. Socorro in Cubao.
The firm can qualify for income tax holidays if its application would be approved by the BOI.
To attract investments, the BOI grants incentives to firms which engage in activities being promoted by the government.
Every year, the BOI comes up with the Investment Priorities Plan (IPP) which identifies activities that can qualify for incentives.
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Mass housing is listed as a preferred activity in the 2013 IPP.
Other preferred activities in the IPP are agriculture or agribusiness and fishery; creative industries or knowledge-based services; shipbuilding; iron and steel; infrastructure; research and development; green projects; motor vehicles; strategic projects; hospital or medical services; and disaster prevention, mitigation and recovery projects.
The 2013 IPP 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.
