The Board of Investments (BOI) has granted a three-year income tax holiday to Lerato Tower 1, a P816-million housing development of Ayala Land Inc.’s unit Alveo Land Corp. at the heart of Makati.
Located at Malugay St., Bel-Air, Makati City, Lerato Tower 1 involves the development of 9,813 square meters of land and the constructiom of a 30-storey condominium comprising 420 low-cost or economic housing units with a package price of P3 million each.
This is considered "low-cost" based on the definition of the Housing an Urban Development Coordinating Council of over P400,000 to P3 million.
Low-cost housing is one of the preferred activities under infrastructure under the BOI’s Investment Priorities Plan. However, since Lerato Tower 1 is located in the national capital region, its income tax holiday is limited to three years instead of four given to areas that are less served.
This is Alveo’s second housing project in Makati to be registered with the BOI. It registered another mass housing project, Celadon Park Tower 2 in Felix Huertas, Sta. Cruz, Manila. Its other Makati project but considered very high end is The Columns at Amorsolo st., Legaspi Village. Lerato Tower 1 starts commercial operations in November and will employ 430.
For details on Lerato Tower, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Business Insight, 02 October 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
Located at Malugay St., Bel-Air, Makati City, Lerato Tower 1 involves the development of 9,813 square meters of land and the constructiom of a 30-storey condominium comprising 420 low-cost or economic housing units with a package price of P3 million each.
This is considered "low-cost" based on the definition of the Housing an Urban Development Coordinating Council of over P400,000 to P3 million.
Low-cost housing is one of the preferred activities under infrastructure under the BOI’s Investment Priorities Plan. However, since Lerato Tower 1 is located in the national capital region, its income tax holiday is limited to three years instead of four given to areas that are less served.
This is Alveo’s second housing project in Makati to be registered with the BOI. It registered another mass housing project, Celadon Park Tower 2 in Felix Huertas, Sta. Cruz, Manila. Its other Makati project but considered very high end is The Columns at Amorsolo st., Legaspi Village. Lerato Tower 1 starts commercial operations in November and will employ 430.
For details on Lerato Tower, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Business Insight, 02 October 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
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