The Cebu South Road Properties - SRP

SOUTH ROAD PROPERTIES
(As presented by Mr. Joel Mari Yu, Managing Director of CIPC - during the meeting of RDC-IDC held last 17 Sept. 2004 at NEDA Building, Cebu City)


SOUTH ROAD PROPERTIES Marketing Program and Initiatives.

„« The SRP will be marketed as a prime mixed land use property development project. It can accommodate investments in Light Manufacturing, Commercial, Tourism, IT and other Services.

„« The main marketing strategy will be directed towards established and reputable property development companies here and abroad who will be invited to develop ¡§block¡¨ sections of the SRP. This ¡§wholesale¡¨ (as opposed to Retail) marketing of the SRP will also ensure that on-site infrastructure will be provided at no cost to the City. It will also mean that the task of creating a master plan for the property will be passed on to partner developers

However, qualified investors willing to immediately locate in the SRP will also be accommodated.

INTERNATIONAL MARKETING INITIATIVES.

„« Submitted a proposal for Marketing Assistance for the SRP to the Japanese Government through JETRO, JICA and JBIC. Specific request is for the Japanese government to provide us a Consultant who will identify and arrange meetings for us with possible Property Developers in Japan

„« On their own initiative, JETRO has already circularized info on our SRP in their advisories worldwide.

„« Held discussions with Jurong Estates in Singapore and Enterprise Singapore of their governments Trade Development Board (TDB). They have committed to organize a forum in Singapore this year that will give us the opportunity to present our project to land developers there.

„« Also made the same request with our Phil. Commercial Attache in Hongkong to organize a forum with property developers there. Target companies include Hongkong Land, Jardines, Colliers, FPD Savills, etc.

„« Also made the same request with the Phil. Commerical Attache in Taiwan. We will be given the opportunity to meet with Taiwan¡¦s Bank of China Officials to present the SRP. The Bank of China is their government agency that signed a JV with Subic for rental of 300 has. of land for Taiwanese Investors.

„« Initiated discussions with the Philippine Leisure and Retirement Authority (PLRA) for the inclusion of the SRP as a priority destination for Investments in Retirement Facilities. The SRP will also be considered as a site for a Training Center for the Retirement Industry which will be established by JICA as early as next year.

DOMESTIC INITIATIVES.


„« Presented the SRP to Aboitiz Land, operator of MEPZ 2. They have firm interests in leasing up to 100 has for an integrated industrial/commercial facility

„« Initial discussions with Mr. Guillermo Luchangco of Investments and Capital Corporation of the Philippines for (ICCP) for projects in the SRP

„« Initial discussions with Ms. Ofelia Bulaong of the National Development Company on joint marketing efforts for the SRP.

„« Aboitiz Land has also indicated interest in a possible solicited BOT with the City for the management and administration of the entire SRP. Towards this end, they have offered to spend for a Masterplan for the entire SRP and to fund all necessary marketing activities.

„« Ayala Land has also already sent their planners to the SRP for ocular inspection. They have indicated that proposals will be forthcoming.

„« Have scheduled a Roadshow for property developers in the Phil., Including Ayala Land, Aboitiz Land, SM Properties, Robinsons Land, Megaworld, Sta. Lucia, etc.

„« Presented the SRP to fast ferry operators in Cebu namely Supercat Fast Ferry Corp. and Ocean Fast ferries Inc. for the possibility of relocating their landing terminals at the SRP.

IN THE WORKS.

1. Aerial photo shots of the SRP which will be used in promo material including a Web Page
2. A Web Page for the SRP which will also be linked to the existing Web Page of CIPC and the City
3. Official Request to our Phil. Commercial Attache in South Korea for the organization of a Roadshow to present the SRP in Seoul.
4. For PR and Goodwill reasons, we will also mount a series of ¡§tours¡¨ to the SRP for various sectors of the Cebu community including the Media, Business Sector, Civic Groups, etc.
5. In the process of registering ¡§South Road Properties¡¨ as the business name for the facility with the Dept. of Trade & Industry (DTI)
6. In the process of creating a Property Management Office, with appropriate budget and personnel, under the office of the Mayor
7. Non-stop efforts to speed up titling of the project and securing Presidential Proclamation as a Special Economic Zone

Suggested List of Admissible Investments at the SRP


A. INDUSTRIAL ACTIVITIES

1. Light Engineering/Precision Assembly - Optical equipment, accessories and peripherals - Computer equipment, accessories and peripherals - Audio/Video Equipment, accessories and peripherals - Telecommunications equipment, accessories and peripherals - Timepieces - Automobile parts, accessories and peripherals - Pharmaceuticals - Garments - Toys - Jewelry and Fashion Accessories - Furniture and related items - Metalworking - Food and Non-food manufacturing - Plastics and Packaging - Etc.

B. BUSINESS/SERVICE/COMMERCIAL ACTIVITIES

1. Services Enterprises - Hotels - Restaurants - Shopping Centers - IT Enterprises (e.g. ¡V call centers)

2. Academic/Medical Institutions - Schools and other Centers for Learning - Hospitals and other Medical Institutions - Research Centers/Laboratories.

C. TOURISM RELATED ACTIVITIES

Retirement Villages Amusement/Theme Parks Condominiums/Leisure Living Units.



NEGATIVE LIST OF INVESTMENT AT THE SRP.

A. HOUSING

B. HEAVY INDUSTRIES SUCH AS: 1. Petro-Chemical Plants 2. Fertilizer Plants 3. Power Plants 4. Steel Plants 5. Cement Plants 6. Dynamite & other explosives

C. Gambling establishments

D. Golf Courses, Motor sports, etc.

CONDITIONS.

- Sale and Lease - Indicative Lease Rate is US$0.50/sq.m./mo. Indicative sale price is a floor of P5,000/sq.mt

- Lease period: 25 yrs. + 25 yrs extension - Water/Power will be provided by SRP Administration. Telecom services will be locators option - Acceptable conditions of contract: - Straight lease - In accordance with BOT Law.

"FOREIGN INVESTORS / INTERNATIONAL PROPERTY DEVELOPERS WELCOMED"