The Board of Investments (BOI) has greenlit P1.8 billion worth of mass housing and industrial park projects in Central Luzon, aiming to boost economic activity and provide affordable homes.
The bulk of the investment, P1.35 billion, will fund the construction of over 1,700 socialized housing units in Nueva Ecija, the BOI said.
"Mass housing is a priority sector under Tier I of the Strategic Investment Priority Plan, but only units priced up to P3.6 million qualify for incentives," the BOI noted.
Borland Development Corp. plans to start construction on its housing project this June. Meanwhile, Fortunetown Properties Corp. will open a 24-hectare industrial park in Mexico, Pampanga, also in June, to serve manufacturing, logistics, and warehousing firms.
"In addition to generating employment, the project is projected to stimulate broader economic activity by attracting locators, supporting domestic supply chains, and creating multiplier effects through increased demand for local goods and services," the BOI said.
Trade Secretary Cristina Roque, who chairs the BOI, emphasized the projects' impact: "These projects will provide thousands of housing units for families seeking affordable homeownership while creating opportunities for businesses to expand and generate jobs through a new industrial park. With these, they help build stronger communities, attract economic activity to the regions, and bring development closer to where Filipinos live and work."
The BOI, the country's lead investment promotion agency, has secured P58.2 billion in approved pledges in the first quarter alone.