Michael Tan, who is on audit was our host for the second business (Hausland) a large real estate development in Angeles City (the biggest in Angeles?). It is a 40 hectare JV project with the Lazatin. It total inventory of 1,400 plots would amount to about P4 billion. Michael Tan, the VP for Marketing, the son of a former colleague at Unilab, said that the cost to develop land was at P1t per square meter. The house construction, finished is at P17t/sm; and selling price would be at P30 to P35t. House construction use interlocking panels welded and does not use post thus is faster and cheaper. Many of their materials, except the roofing, are all from China (bought direct thus resulting in tremendous cost reduction) They reserve the adjoining lots for expansion of the house later on, thus doubling the sales (bundling?) From the costs, we can compute the GP per sm. (It is billions too)
