In the recent deal proposal and evaluation several were botched/did not proceed
1. The 2600 sm property which we planned for a higher end residential. The owner wanted P7,500/sm
we bided only P6,000 because this input is what the market could take At 7,500 + 2,000 dev cost/0.60 = 15,333 BE. Retail plots at P20,000/sm to make a decent profit. 100 sm x 20,000 = 2M
The selling price of a nearby subdivision is P12,000 only (P2,000,000 for a 180 sm property) We would be pricing ourselves out of the market. Anyway, the seller gave a deadline and never more
responded.
2. A 9,600 sm property located in a criminal laden site. The owner was difficult to deal with being
a former state university activist bad boy. The property terrain is anti good feng shui and
had a cliff like depressed portion. The seller said there is better access road but he could not show
this. We will forego of this project
But there were new opportunities and therefore, the Lord knows best: There were better replacement:
B projects
1. A 7.2 hectare project in NW Luzon a jv, this will save a lot of PHP for land acquisition. Located in a tourism city and sales could reach B, because the product competition is priced at P100k+
7.3 x 60% = 43,800/2.5 = 17,520 x 80,000 = P1,401,600,000
2. A possible jv for a mp in town with 300,000 population for 1.4 + 4 hectare good for a yield of
5.4 x 60%/2.5 = 13,000 x P 80,000 per plot = P1,080,000,000
3. To substitute for #1, there is a 4,600 project located on the highest point of a hill located near a shrine that is overlooking that is priced at P2,700 per square meter. We can do this as premium overlooking project.
4,600 x 2,700 = 12,420,000
BE 12,420,000 x 4,600,000/0.60 = 10,811 (dapat P15,000)
HL premium project
4. Another commercial residential 26000 sm kapapanalo lang sa Supreme Court. say
6,000 for commercial/sale lease x 15,000 = 90,000,000
20,000 x 5,000 100,000,000
Payag ng JV
