By Ben Arnold O. De Vera, Reporter
Manila Times
Amid higher cancellations among mid- to high-end projects,
mass-housing investments registered with the Board of Investments (BOI), however, nearly doubled in the first quarter this year, according to the incentives-giving agency.
Preliminary data gathered by The Manila Times showed that 15 low-cost,
mass housing projects have been registered with the BOI at end-March this year, up from 12 in the same three-month period last year.
Moreover, the total investments this year ballooned by almost 90 percent to P3.498 billion compared with P1.842 billion in first three months of last year.
Low-cost housing ventures awarded incentives by the BOI have risen continuously since the incentive-giving agency included mass housing under infrastructure activities in the annual Investment Priorities Plan (IPP) beginning 2003.
According to BOI data, the incentive-giving agency registered three
low-cost mass housing projects totaling P268.482 million in 2003; seven worth a combined P260.644 million in 2004; 22 worth a total of P1.408 billion in 2005; 16 costing a combined P1.433 billion in 2006; and 51 worth P9.416 billion in 2007.
Last year, low-cost mass housing investments registered with the BOI reached P38.261 billion for a total of 98 projects.
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