How can I be assured that you will finish the project on time, if at all?
Should Starland Properties, Inc. (SPI) fail to meet its target completion date as stipulated in its lease contract with the SBMA, the performance bond posted with the SBMA and all investments in the property shall be forfeited in favor of SBMA. This is further backed up by a US$2.5 million standby loan from a foreign bank and Php 50 million (Philippine Pesos) loan from a local bank.
Why Subic?
Four (4) things: Safety/Security, Accessibility, Leisure/Recreation and the future developments in the area. Subic , which is accessible by sea, air and land (not to mention the planned Subic-Clark expressway), is the most complete when it comes to leisure and recreational institutions. On top of this, Subic has a good track record as far as safety and security are concerned. Last but the most important fact, Subic is part of the Subic-Clark growth corridor. In the next 15 years, Subic will become part of the business hub in Luzon , which is envisioned to become more important than both the Makati and Ortigas business districts. This will translate to a significant appreciation in the value of real estate investments in the area.
Why is it expensive considering I can only use if for 50 years?
It is actually not expensive because from the location alone, you are already getting your money's worth. Besides, property value in the area will surely increase as a result of increase in business activities within the area.
What makes SHV different from a condominium unit?
A. Our amenities make SHV different not only from other condominium projects but from other condo-tel (condominium-hotel) and leisure properties as well.
OTHER CONCERNS OF INVESTOR-CLIENTS:
1. Availability of Title Insurance or equivalent
There will be no duplication in the issuance of title to the units considering that all sales are registered with and controlled by the Subic Bay Metropolitan Authority (SBMA)
2. Estimated appreciation based on similar properties
As of the moment SHV has no direct competitors not only in Subic but in the whole Philippines as well. There are certain retirement facilities, particularly in the south, which approximates SHV. However, as these institutions are relatively new, no statistical data on market value appreciation can be gathered as of yet. This means that we have a “one of a kind” project. Like a rare-cut diamond, SHV is therefore priceless.
3. Property Management fees for long term lease vs. weekly rental
The association dues or property management fee for SHV is estimated at approximately US$ 1.00 per square meter per month or US$36.00 per month for a studio-type unit. The unit owner has an option to include said fees in the monthly lease rate or weekly rate.
4. Information on surrounding hospitals, fire department, jobs, schools
There are two major hospitals located near SHV: one inside SBFZ ( Subic Bay Medical Center ) and another located just in front of the main gate entrance ( James Gordon Memorial Hospital ) of SBFZ, approximately 5 kilometers and 3.5 kilometers from the site respectively. The former accepts American HMO's such as Tri-care, Blue Shield, Medserve, Health Care International, etc.
- The Brent International School located in the Binictican residential area is just 6.4 kilometers from the site or just a 5-minute drive.
- The University of the Philippines and Ateneo De Manila University have put up Graduate School Education inside the SBFZ. It is open to locals and foreigners.
- Techno, Industrial and IT parks, the lifeblood of Subic Bay Freeport Zone, are numerous.
- SBFZ has its own water filtration plant and power plant.
- Fire Departments are scattered inside SBFZ as the former residents of Subic , the U.S. Navy, were very particular about safety and security.
5. Statistics regarding availability of potential renters and scarcity of housing
Our research shows that there are around 8,000 American Retirees living within the vicinity of Subic wanting to go back inside the base. Another is that during the summer and Christmas seasons, there is a noticeable undersupply of housing facilities in Subic. Tourists, both local and foreign, are forced to rent houses, hotels or apartels located outside SBFZ. Long-stayers, locators and expatriates occupy residential facilities on long-term leases regardless of season.
Subic has yet to feel the effect of the medium and long-term development plan of the government for the Subic-Clark growth corridor in the next seven to ten years. Once this program is implemented, the demand for housing facilities inside Subic will significantly increase.
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