The Board of Investments approved the application of Tondo Holdings Corp. for a P10.18-billion project under the preferred list of economic and low-cost housing of the Investment Priorities Plan.
“The inclusive growth strategy in the Duterte administration’s 10-point socio-economic agenda will boost the lower income class and join a rapidly expanding middle class segment of the population. This project will go a long way towards addressing the big demand for affordable housing among the rising middle class,” said Trade undersecretary and BoI managing head Ceferino Rodolfo.
He said more housing projects would mean more jobs being generated not only in the construction segment but also among suppliers.
The “Urban Deca Homes Manila” is ongoing and is expected to be operational by January 2017 providing up to 819 jobs.
The project involves the development of 85,000 square meters in Vitas Street, Tondo, Manila into thirteen 13-story buildings with a total capacity of 13,212 units.