BOI inks deal with housing board to simplify processes

CEBU, Philippines - The Board of Investments has signed a memorandum of agreement with the Housing and Land Use Regulatory Board, seeking to fast track the processing of applications of various housing permits, licenses and clearances of subdivision and condominium projects.

These include Locational Clearance, Development Permit, Certificate of Registration, and License to Sell of subdivision and condominium projects.

The agreement further simplifies business processes and requirements for real estate projects, thus promoting ease of doing business in the country and making business transactions more investor-friendly.

“It is important that we offer a conducive business environment to investors, a place where they could quickly set up and process their business requirements. An important first step is to make it easy for them to comply with government requirements,” BOI Managing Head Ceferino Rodolfo said.

“By simplifying business processes and requirements, we make a good signal to the business community and this would entice them to invest more housing projects in the country,” he said.

Under the agreement, HLURB shall regularly provide BOI with copies of all relevant rules and guidelines, and standards on housing and real estates.

It will also provide BOI with a checklist of all requirements related to LCs, DPs, and CRLS of subdivision and condominium projects.

The agreement also allows authorized BOI representatives to assist in the submission and follow up of housing-related applications of projects or transact on behalf of the BOI-registered enterprises including projects that are of economic and environment significance.

HLURB shall also issue BOI applicants a certified true copy of the annotated LS signed by the regional director containing the following: annotations on the computation of the social housing compliance required by law; details of amendments pertaining to number of house and lot packages, and lots only that are for sale; and in cases where the LS presented to BOI by the firm does not contain details, a subsequent certification can be issued by the HLURB to applicant firms within five working days upon filing of an application.

The BOI in turn shall assist its registered business enterprises in the submission and follow up on the applications for LC of projects including the applications for DP and CRLS of subdivision and condominium projects.

The agency shall also assist HLURB in disseminating information to BOI-registered enterprises on the requirements for availing LCs, DPs, and CRLS.

It shall also coordinate with HLURB copies of all relevant rules and guidelines and standards on housing and real estate.

Economic and low-cost mass housing is one of the preferred activities in the current Investment Priorities Plan.

Investments approved by the BOI in the mass housing sector in 2016 increased by 53 percent to P65.46 million compared to the P43.95 million registered in 2015.

In Cebu alone, investment projects registered by the BOI soared to P27.32 billion as of October of last year, official data showed.

Philip Torres of BOI-Cebu office earlier said the mass housing projects still dominated the registered projects.

These mass housing developments are located in Minglanilla town, Cebu City, Mandaue City, Lapu-Lapu City and Talisay City.

The data indicated that there were 13 mass housing projects registered from January to October last year.

Torres said that mass housing projects are still expected to be registered this year but he also expects manufacturing projects to be registered. (FREEMAN)