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.