Projects worth P3.2B get BoI perks

The Board of Investments (BoI) has approved the registration of P3.2 billion worth of housing and cold-storage projects.

The biggest among the approved new investments is that of Filinvest Land Inc., for the P2.1-billion San Remo Oasis project in Cebu City.

The project will entail the construction of eight medium-rise buildings that will house 1,096 low-cost housing units. Each unit will have a floor area of 18.77-41.04 square meters.

Aside from San Remo Oasis, Filinvest Land’s other housing project, dubbed Ocean Cove, also secured BoI perks.

The P206.8-million housing development involves the establishment of 118 housing units on 15.6 hectares of land in Talomo, Davao City.

Also given BoI nod was the P381.8-million Livingsprings Communities Realty and Development Corp.’s Tres Palmas project in Taguig City.

The BoI also approved the registration of the P119.8-million Wellington Place Mary Cris Complex Phase 10 project of Duraville Realty and Development Corp. in General Trias, Cavite, and the P87.1-million Avisea Subdivision development of Household Development Corp. in Valenzuela City.

The only non-housing project that recently secured BoI approval was the P296.2-million cold-storage and blast-freeze facilities of METS Logistics Inc. in Carmona, Cavite.