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Subic Bay Project

Look and Feel

2  level house, concrete construction, aluminum glass windows

What is this Project?

Construction of 300 medium cost apartment units within the Metro Manila Area in the Philippines. Comprising of 3 bedrooms, lounge/dining, and floor area of 66 sq. meters. House and Lot package price range of US$40,000 per unit. Project duration is 16 months to include full-repatriation of profits in USD to Australia. An accredited local contractor will build the units.

Background on Philippine Housing

The housing backlog in the Philippines is 3.6 million units of which half is for Metro Manila area. To encourage investment in the housing industry, the Philippine government provides

  • Government guarantees for developers and investors,

  • Buyers financing is available from Pag-ibig Fund, Government Service Insurance System (GSIS), and Social Security System (SSS),

  • Incentives, such as Tax Holidays is provided by the Board of Investment (BOI)

  • Repatriation of investment in US Dollars is guaranteed by the Central Bank of the Philippines.

What is the Role of Alamco?

Alamco’s main role is to facilitate Australian company to be viable in Philippine investment environment.

  •  Project Identification

  •  Joint Venture Agreements

  •  Joint Venture Administrator

  •  Business Unit Managers

  •  Project Manager

How will I Invest?

Investment is via a joint venture with the landowner. The land is fully developed ready for housing. The landowner will contribute the land and the foreign joint venture will contribute the house units. Net proceeds from sales will be shared in proportion.

If I am interested, what next?

The process involves:

  •  Register your new company focused on Philippine Projects.

  •  Appoint Alamco as the Business Unit Manager.

  •  Evaluate Projects and finalise Joint Venture. Your company can have many projects and many JVs.

  •  Allocate funds to implement project/s.

How does this Housing Project Rate?

The attached cash flow projection is the result of Alamco’s  due diligence on this project. The Australian party will raise pre-operating expense of and housing cost. The production cycle to collection is 4 months. To do 300 units in 12 month, production schedule is:

  •  Quarter 1 – 30 units

  •  Quarter 2 – 60 units

  •  Quarter 3 – 90 units

  •  Quarter 4 – 120 unit

What do I get for my money?

Please see attached Unit Profit Analysis and Projected Cash Flow

Who do I Contact at Alamco?

Omar Abdullah.

Mobile: 0408-670-911, Fax: (618) 9248-1503

E-Mail:  subic@alamco.com.au, Website: www.alamco.com.au

24 November 2000