Caloocan City
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PROJECT

Construction of Low to Medium cost housing on a developed land in Caloocan City. Portion of the subdivision allocated to Alamco is the construction of 600 single detached unit as per Alamco proposed Look and Feel Design.

 

RELATIONSHIP

Alamco and Australian Partner has the option to 

a) purchase the land. The property is assesses by HGIC (Home Guarantee Insurance Company) for Peso 3,020 per square meters in 20 February 1998. Alamco feels that value might have increased since then. A unit will require 150 sq meters. A cluster of 3 units needs 450 sq meters.

b) joint venture with the land owner whereby the land owner will contribute the land to the joint venture and Alamco and Partners will contribute the house unit as the sharing and cost. The Joint Venturer will share the profit proportionately. Construction cost is estimated at Peso 6,000 per sq meters minimum increasing depending on the finish.

c) size of the project will be adjusted based on Alamco & Partners capacity with minimum of 300 units module is possible.

 

Suggested

This is a cluster design. You are actually looking at three (3) units clustered in a strata block. It has a common fence and common yard. The unit owners can at some stage for example decide to construct a common pool. Each unit is 66 sq meters, 1.5 storey, 44 sqm floor, 22 sqm loft. This is designed have a "grab" appeal to the market. While the cost to make the init is the same, the selling cost will vary depending on where you locate it. The price for a house like this in Subic for example will be different if it were located in he Caloocan Site.

Pre-Feasibility Notes

The Look and Feel is presented to a panel of real estate agents in Manila in 10 November 2000 to have a feedback of how much it can be sold on the Caloocan Project site. The feedback price ranges from 1.5 million to 2.0 million depending on the finish.