NextGen Day

Cebu’s real estate landscape is about to transform as BOI raises the threshold price to P3 million at the Developers Convention. Discover the future of property development.

PRESS RELEASE

BOI Announces Threshold Price Increase of P3 Million at the National Developers Convention 2023 in Cebu

SHDA’s National Developers Convention draws over 500 housing industry professionals for crucial discussions on country’s housing agenda

In response to the call from developers, the Philippine Board of Investments (BOI) has announced the increase of threshold price per housing unit eligible for government tax incentives from P2 million to P3 million during the National Developers Convention in Cebu City last October 5, 2023 hosted by the Subdivision and Housing Developers Association (SHDA).

The official announcement  was made by Mary Ann Raganit, Director of the Infrastructure and Service Industries Service at the BOI. In addition to the increased threshold, the BOI has also extended the income tax holiday (ITH) period from four years to six years.

These changes represent a significant shift in government policy and have been welcomed by the housing industry, particularly around 500 mass developers and housing professionals who attended the 2-day convention. The extended threshold for tax incentives and the longer ITH period will provide developers with increased financial incentives, making it more attractive for them to undertake housing projects.

Raganit noted that the BOI expects to see an influx of new project registrations following this announcement. These changes will not only benefit developers but also have the potential to stimulate economic growth and encourage more housing projects to address the nation’s housing needs.

In line with these developments in the housing industry, day 1 of the SHDA’s National Developers Convention addressed critical issues and concerns within the housing industry. Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar graced the event and delivered the message of President Ferdinand “Bongbong” Marcos Jr. 

Pag-IBIG CEO, Ms. Marilene Acosta delivered her keynote address for the convention and was followed by Dr. Stan Padojinog, President of the University of Asia and the Pacific who mentioned in his speech other factors on the Marcos administration’s Pambansang Pabahay Para sa Filipino Housing program and its goal of building at least 6 million housing units in six years.

Discussions during the breakout sessions encompassed a wide range of topics, including the call for collaborative housing roadmap, incentives for developers as part of the Survey of Income and Program Participation 2022, as well as breakout sessions tackling community development through renewable and sustainable materials, real estate tech trends, and building resilient communities.

With this year’s theme focusing on local development, SHDA National President Ar. Leonardo Dayao Jr. emphasized the steps SHDA is taking in order to empower the local housing sector by collaborating with Local Government Units (LGU). 

“Several developers of ours here are partnering with their different LGUs. We have one in Iloilo, Novaliches, so we have several developers already. The idea here is that we will partner with the local government who has the land so that we can help build and then make housing affordable,” Dayao stated.

Among the notable figures in the housing industry and local government officials who attended the convention where Cong. Eduardo “Edu” Rama, Representative of the South District of Cebu City who delivered the welcome message to kick off the event. 

SHDA National Chairman, Ms. Arlene Keh stated that “The reason why we have the convention yearly is to be able to assess where we are against the roadmap so that we know if we need to adjust strategies or we need to create new ones with the objective to be able to provide housing for each Filipino family.”

The convention sponsors for the event include 8990 Holdings Inc., Banco de Oro (BDO), Bank of the Philippine Islands (BPI), Holcim, MyCitiHomes, China Bank, APEC Homes, Davies Paints Philippines, Pag-IBIG Fund (HDMF), Joy-Nostalg, SMDC, Ayala Land, Phinma Construction Materials Group, Steeltech Colored Roofing, EastWest Bank, and Cebu LandMasters.

###

About the Subdivision and Housing Developers Association, Inc. (SHDA) 

The Subdivision and Housing Developers Association (SHDA), Inc. is the largest and leading industry association for housing and urban development in the Philippines. We have 350 members nationwide and eight regional chapters: unmatched connections amongst the country’s top players, and a dynamic national network of small and medium developers. 

We have actively partnered with the nation’s housing policymakers, key shelter agencies, and stakeholders for over 50 years, thereby developing and strengthening the capabilities of the industry. And with 80% of homes produced annually in the country built by our member developers, we have unparalleled reach amongst Philippine homebuyers.
For more information, visit www. https://shda.ph/.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---