THE Board of Investments (BOI) has approved the grant of incentives to the mass-housing projects of three firms with total cost of P237.38 million.

Forte Realty Corp. allocated P50.95 million for a condominium project called Villa Alicia II.

The four-story condominium building will have 65 residential units and will rise at a 747.8-square-meter lot on Zamora Street in Pasay City. It will employ 72 people when commercial operations start this month.

The project qualified for nonpioneer incentives that include income-tax holiday for up to four years and duty-free importation of capital equipment.

The BOI also approved the application for nonpioneer status of Casa Regalia Inc.’s Verona Subdivision project.

Entailing a cost of P45.5 million, the project consists of 107 horizontal units in a 1.8-hectare land  in sitio Pantay, barangay Dalig, Teresa, Rizal.

The company will hire 58 workers when commercial operations begin also this month.

Also getting the BOI nod is Lynville Realty and Development Corp.’s P140.93-million housing project in Santa Cruz, Laguna.

The company is putting up 340 low-cost units on a 2.72-hectare property. Commercial operations of the project, the third mass-housing venture to be registered by the company, will start this month and will employ 199 people.