PIA Press Release
Wednesday, January 04, 2012
MOA signed for socialized housing project in CaviteDASMARIÑAS CITY, Cavite, January 4 (PIA) -- A Memorandum of Agreement (MoA) was recently signed between the SM Development Corporation and the Gawad Kalinga (GK), an accredited institution to co-develop the property donated by SMDC for socialized housing project.
Once developed, the 3.84 hectare donated property located at Barangay Paliparan can accommodate more than 200 families complete with road network, drainage and water distribution system.
Aside from the property donation, SMDC will also fund the construction of 24 houses and a kindergarten school in the area.
The donation of the SMDC is part of the developers’ compliance with the national government’s requirement of reserving 20 percent of housing projects to socialized housing to enjoy the Board of Investment’s (BoI) incentives.
Developers’ contribution under this program of the national government could reach P2 billion that would translate to around 15,000 houses and at least 3,000 classrooms.
BoI thrust of helping the national government address housing shortage is estimated to reach about 5.8 million units in 2016, and classroom shortage at 66,800 units. (RBF, PIA-Cavite)