Decree to be issued to free housing from Itbis
Diario Libre
SD. Soon the Government will issue a decree so that all housing that is sold at prices under RD$2.0 million will be exempt from the payment of the Tax on the Transfer of Industrialized Goods and Services (ITBIS).
The measure will be temporary until October when it is expected that the regulations for Law 189-11 on Developing the Mortgage and Trust Market will go into effect.
This issue was talked about yesterday during a meeting in the Presidential Palace between the Presidential Minister, Gustavo Montalvo, and the president of Bisono Construction Co., Rafael Bisono (Tato).
5000 housing units
When he was interviewed after the meeting with the Presidential Minister, Bisono revealed that in the next few weeks his company will begin the construction of 5,000 housing units near to the San Isidro Air Force Base in East Santo Domingo.
The builder said that they will be economic houses and that they will be sold at RD$895,000 each.
The businessman explained that the apartments can be financed with the plan of preferential interest rates of 8.95% for six years, which was established by the government when they freed up the RD$20 billion of the legal reserve of which RD$6.0 billion will be spent to put up housing.
Tato indicated that Bisono Construction Co has a commitment with President Danilo Medina to construct quality and appropriate housing for poor families.
He indicated that his company has constructed more than 40,000 housing units in its history, and they want to put up another 24,000 over the next two years with an investment of RD$50 billion.
For his part, Tetelo Bisono, his son, underlined the fact that with a down payment of RD$160,000, a person could obtain an apartment, both in the project that will be build in San Isidro as well in another project of 9,000 units that will be put up on Kilometer 17 of the Duarte Highway.
"Bisono Construction also provides a period for people to pay the down payment. Which is to say that the new home owner can take as much as six months to pay it off," he said.
Regarding the financing, he stated that the company has agreements with the different mortgage associations and commercial banks.
"This is a brilliant opportunity for the poor to have their own house," added the developer.
The measure will be temporary until October when it is expected that the regulations for Law 189-11 on Developing the Mortgage and Trust Market will go into effect.
This issue was talked about yesterday during a meeting in the Presidential Palace between the Presidential Minister, Gustavo Montalvo, and the president of Bisono Construction Co., Rafael Bisono (Tato).
5000 housing units
When he was interviewed after the meeting with the Presidential Minister, Bisono revealed that in the next few weeks his company will begin the construction of 5,000 housing units near to the San Isidro Air Force Base in East Santo Domingo.
The builder said that they will be economic houses and that they will be sold at RD$895,000 each.
The businessman explained that the apartments can be financed with the plan of preferential interest rates of 8.95% for six years, which was established by the government when they freed up the RD$20 billion of the legal reserve of which RD$6.0 billion will be spent to put up housing.
Tato indicated that Bisono Construction Co has a commitment with President Danilo Medina to construct quality and appropriate housing for poor families.
He indicated that his company has constructed more than 40,000 housing units in its history, and they want to put up another 24,000 over the next two years with an investment of RD$50 billion.
For his part, Tetelo Bisono, his son, underlined the fact that with a down payment of RD$160,000, a person could obtain an apartment, both in the project that will be build in San Isidro as well in another project of 9,000 units that will be put up on Kilometer 17 of the Duarte Highway.
"Bisono Construction also provides a period for people to pay the down payment. Which is to say that the new home owner can take as much as six months to pay it off," he said.
Regarding the financing, he stated that the company has agreements with the different mortgage associations and commercial banks.
"This is a brilliant opportunity for the poor to have their own house," added the developer.
Diario Libre
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