BOI approves Kenrich housing project in Cebu
MANILA,
July 30 (PNA) -- The Board of Investments (BOI) recently approved the
application of Kenrich Development Corp. for its housing project in
Tungkil, Minglanila, Cebu.
The P80.7 million project dubbed as Villa Celina 2A
Subdivision, involves the development of 15,709 square meters (sqm) of
land and the construction of 133 low-cost mass housing units in duplex
and row houses ranging from 32.6 sqm to 39.6 sqm.
The project design will conform to mass housing standards
under BP 220 and other related laws. Commercial operations are set to
begin on September 2010 employing 106 personnel.
“This project sustains the momentum of growing demand for
affordable housing especially in the countryside,’” Trade and Industry
Secretary and BOI Chairman Gregory L. Domingo said.
The firm’s major stockholders are the Ng family led by
company president, Charlie N. Ng. Kenrich has been in operations for
more than a decade doing low-cost housing projects in Cebu where they
have over 20 projects to date.
The Villa Celina projects
is only its eighth project to be registered with the BOI.(PNA)
LDV/BAC/utb
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