Morceau del Ciel, Tagaytay

Morceau del Ciel
D.A. SILVESTRE & ASSOCIATES
ARCHITECTURE/PLANNING

SITE A
Morceau Del Ciel
SITE B

MASTER DEVELOPMENT
PLAN
(SITE A)
Morceau Del Ciel

DEVELOPMENT NODES
Morceau del CielMorceau Del Ciel

ROAD NETWORK
MAJOR ROADS
MINOR ROADS
Morceau Del Ciel

ZONING PLAN
RESIDENTIAL AREA
PARKS AND GREENS
COMMUNITY FACILITIES
COMMERCIAL
Morceau Del Ciel

Confidential Executive
Summary

Description of the Property
 Composed of more than a dozen individual
properties with an
 aggregate area of around 340 hectares,
expandable by another 100-200 hectares
 located in Tagaytay, Cavite and Talisay,
Batangas
LOCATION - The property also has 3 primary
Morceau Del Ciel
 Composed of more than a dozen individual
properties with an
 aggregate area of around 340 hectares,
expandable by another 100-200 hectares
 located in Tagaytay, Cavite and Talisay,
Batangas
LOCATION - The property also has 3 primary

Tagaytay is not only the new summer capital of the
country; it has become, of late, the leisure capital of the
country. The sales of high-end homes and second homes in
the area have grown rapidly in the past few years and with a
housing backlog of more than 4 million, and with most
buyers being end users, the market shows no signs of
slowing down in spite of the current global economic crisis.
Not only that, commercial development, particularly in
hotels, restaurants, and other recreational facilities continue
to boom without let up.
Morceau Del Ciel
Tagaytay is not only the new summer capital of the
country; it has become, of late, the leisure capital of the
country. The sales of high-end homes and second homes in
the area have grown rapidly in the past few years and with a
housing backlog of more than 4 million, and with most
buyers being end users, the market shows no signs of
slowing down in spite of the current global economic crisis.
Not only that, commercial development, particularly in
hotels, restaurants, and other recreational facilities continue
to boom without let up.

• The property is ideal for a high-end luxury residential project
similar to Tagaytay Highlands.
• In addition, a tourism-related development such as hotel-casinos
combined with time-share condominiums and retirement villages for
various nationalities Eco-tourism medical tourism (geriatric clinics),
and/or a leisure resort can also be done.
• One interesting concept being discussed is for a university town
where a portion of the property will be donated to a premier university
or learning institution. This will give the area a population base that
will make the surrounding areas attractive for future residential
and commercial development.
Morceau Del Ciel
• The property is ideal for a high-end luxury residential project
similar to Tagaytay Highlands.
• In addition, a tourism-related development such as hotel-casinos
combined with time-share condominiums and retirement villages for
various nationalities Eco-tourism medical tourism (geriatric clinics),
and/or a leisure resort can also be done.
• One interesting concept being discussed is for a university town
where a portion of the property will be donated to a premier university
or learning institution. This will give the area a population base that
will make the surrounding areas attractive for future residential
and commercial development.

Recent developments have made the Tagaytay area very attractive
for business investors and property developers.
– The Tourism Law was recently passed which allows for the
establishment of tourism ecozones that will enjoy tax incentives –
Tagaytay will benefit immensely from this new law.
– There is a strong push now in Congress to allow 100% foreign
ownership of land. Should this Constitutional amendment come to
pass land prices will easily double or triple in value particularly
those properties with potential for development.
Morceau Del Ciel
Recent developments have made the Tagaytay area very attractive
for business investors and property developers.
– The Tourism Law was recently passed which allows for the
establishment of tourism ecozones that will enjoy tax incentives –
Tagaytay will benefit immensely from this new law.
– There is a strong push now in Congress to allow 100% foreign
ownership of land. Should this Constitutional amendment come to
pass land prices will easily double or triple in value particularly
those properties with potential for development.

Status of the Property
Most of the property is covered by Land Management Bureau
Approved Survey Plans and are ready for titling once the funds to
cover the titling costs are raised.
Titling costs are primarily composed of unpaid real estate taxes and unpaid
estate/inheritance taxes, which will have to be paid when applying for the
title.
Under the titling process, whether judicial or administrative, three documents
are required for a property to be titled. These are:
– A Land Management Bureau (LMB) Approved Survey Plan
– A tax declaration
– A LMB Approved Technical Description (part of the Approved
Survey Plan)
Morceau Del Ciel
Most of the property is covered by Land Management Bureau
Approved Survey Plans and are ready for titling once the funds to
cover the titling costs are raised.
Titling costs are primarily composed of unpaid real estate taxes and unpaid
estate/inheritance taxes, which will have to be paid when applying for the
title.
Under the titling process, whether judicial or administrative, three documents
are required for a property to be titled. These are:
– A Land Management Bureau (LMB) Approved Survey Plan
– A tax declaration
– A LMB Approved Technical Description (part of the Approved
Survey Plan)

 Under the Torrens titling system a title can be voided if it can be proven that the title
is not based on an LMB Approved Survey Plan - the submission of the LMB
Approved Survey Plan was deemed as a statutory requirement of mandatory
character and cannot be waived either expressly or impliedly. In short, no LMB-
Approved Survey Plan then no title.
 The LMB Approved Survey Plan is a unique document because there can only be one
such plan for each property and these plans are all in the records of the LMB. In
effect, an LMB Approved Survey Plans is VIRTUAL OWNERSHIP for a
property without a taitle. For the Tagaytay property, the untitled portions are all
covered by LMB Approved Survey Plans with the Approved Technical
Descriptions and are ready for titling.
Morceau Del Ciel
 Under the Torrens titling system a title can be voided if it can be proven that the title
is not based on an LMB Approved Survey Plan - the submission of the LMB
Approved Survey Plan was deemed as a statutory requirement of mandatory
character and cannot be waived either expressly or impliedly. In short, no LMB-
Approved Survey Plan then no title.
 The LMB Approved Survey Plan is a unique document because there can only be one
such plan for each property and these plans are all in the records of the LMB. In
effect, an LMB Approved Survey Plans is VIRTUAL OWNERSHIP for a
property without a taitle. For the Tagaytay property, the untitled portions are all
covered by LMB Approved Survey Plans with the Approved Technical
Descriptions and are ready for titling.

• The entire titling process should take an estimated 4 to 6 months to
complete and for the title to come out.
• Timing for titling the property is very opportune since the LRA and
the Bureau of Lands have now switched to a computerized system,
ensuring that any new titles that come out are true, accurate, and the
only existing title on record. The final area will be determined later on
after the property is titled less any disputed areas. The property is
sufficiently large that it can absorb a 10 to 20 percent reduction in the
land area.
Morceau Del Ciel
• The entire titling process should take an estimated 4 to 6 months to
complete and for the title to come out.
• Timing for titling the property is very opportune since the LRA and
the Bureau of Lands have now switched to a computerized system,
ensuring that any new titles that come out are true, accurate, and the
only existing title on record. The final area will be determined later on
after the property is titled less any disputed areas. The property is
sufficiently large that it can absorb a 10 to 20 percent reduction in the
land area.

Opportunity
• Most of Tagaytay is already being developed, mostly as high-end
residential developments.
 Land in Tagaytay is very scarce that most developers are already in Cavite
and Batangas
 Twin Lakes of Megaworld which is mostly Batangas, rather than Tagaytay,
 Sandari in Batulao which sells lots for now, but is planning to sell high-end house
and lot packages in the near future.
 Finally, Century Properties also has a joint venture for a 142-hectare high-end
retirement community in the Batulao area which will be tied up with an
international brand.
 There are no more big properties in Tagaytay except for this property.
Morceau Del Ciel
• Most of Tagaytay is already being developed, mostly as high-end
residential developments.
 Land in Tagaytay is very scarce that most developers are already in Cavite
and Batangas
 Twin Lakes of Megaworld which is mostly Batangas, rather than Tagaytay,
 Sandari in Batulao which sells lots for now, but is planning to sell high-end house
and lot packages in the near future.
 Finally, Century Properties also has a joint venture for a 142-hectare high-end
retirement community in the Batulao area which will be tied up with an
international brand.
 There are no more big properties in Tagaytay except for this property.

Name of Property Description Price per square meter
Opportunity
The property represents a huge financial opportunity since the property can be
acquired for a fraction of the current selling price of developed lots which
ranges between P15,000 (US $366) to P20,000 (US $488) per square meter, on an
untitled basis. Current prices of developed properties are as follows:
Morceau Del Ciel
Name of Property Description Price per square meter
Tagaytay Highlands and
Tagaytay Midlands
Residential lots (preselling) P15,000 (US$366)
Developed areas P20,000 (US$488)
Tagaytay Crosswinds Condominiums P100,000 (US$2,439)
Other properties along
the national road
Priced much higher

Other Matters
We are open to any of the following arrangements:
 Sale on an as is where is basis (untitled, but at a very low price)
 Investor to finance titling, consolidation and other costs for a consideration
 Joint Venture arrangements
 Investor willing to advance funds in exchange for an ownership share of the
property to be titled under a formula to be agreed upon
 Investor to become part owner/partner of the landowner
 Open to exchange deals against publicly listed shares or other acceptable
properties
 Any other arrangements mutually acceptable
The property and all documents are subject to appropriate due
diligence.
*Attached are the estimates for development costs and projected revenues
Morceau Del Ciel
We are open to any of the following arrangements:
 Sale on an as is where is basis (untitled, but at a very low price)
 Investor to finance titling, consolidation and other costs for a consideration
 Joint Venture arrangements
 Investor willing to advance funds in exchange for an ownership share of the
property to be titled under a formula to be agreed upon
 Investor to become part owner/partner of the landowner
 Open to exchange deals against publicly listed shares or other acceptable
properties
 Any other arrangements mutually acceptable
The property and all documents are subject to appropriate due
diligence.
*Attached are the estimates for development costs and projected revenues

Financial Estimates
Dated 26 June 2012
Revenue In Philippine Peso In US Dollars
Sale of condominium units PHP 6,488,040,000 $150,884,651
Sale of residential lots only PHP 17,100,360,000 $397,682,791
Sale of house and lots PHP 72,200,000,000 $1,679,069,767
Lease income of commercial spaces PHP 1,171,980,237 $27,255,354
Total Revenue PHP 96,960,380,237 $2,254,892,564
Expenses
VAT PHP 7,320,100,525 $170,234,896
Creditable withholding tax PHP 1,473,903,012 $34,276,814
Construction and development cost PHP 28,639,442,000 $666,033,535
Depreciation and Amortization PHP 14,319,721,000 $333,016,767
Marketing Costs PHP 11,635,245,628 $270,587,108
Administrative costs PHP 1,848,019,012 $42,977,186
Total Expenses PHP 32,236,431,178 $749,684,446
NET PROFIT BEFORE TAX PHP 28,723,949,060 $667,998,815
Financial Estimates
As of 26 June 2012
Income Statement
Morceau Del Ciel
ASSUMPTIONS:
1. Lease income is based on the first 10 years of operations and assumes leases start on Year
4 with a 5% annual increase and 85% occupancy.
2. Selling price of condominiums is estimated at P130,000 ($3,170) per square meter.
3. Lots are sold at P15,000 ($266) per square meter. Estimated 7,600 lots for sale
4. House and lot packages are sold at P9.5 million each($231,707) for a 120 sqm house on a
150 sqm lot. Estimated number of units at 7,600
5. Construction and development costs is inclusive of cost of titling
Revenue In Philippine Peso In US Dollars
Sale of condominium units PHP 6,488,040,000 $150,884,651
Sale of residential lots only PHP 17,100,360,000 $397,682,791
Sale of house and lots PHP 72,200,000,000 $1,679,069,767
Lease income of commercial spaces PHP 1,171,980,237 $27,255,354
Total Revenue PHP 96,960,380,237 $2,254,892,564
Expenses
VAT PHP 7,320,100,525 $170,234,896
Creditable withholding tax PHP 1,473,903,012 $34,276,814
Construction and development cost PHP 28,639,442,000 $666,033,535
Depreciation and Amortization PHP 14,319,721,000 $333,016,767
Marketing Costs PHP 11,635,245,628 $270,587,108
Administrative costs PHP 1,848,019,012 $42,977,186
Total Expenses PHP 32,236,431,178 $749,684,446
NET PROFIT BEFORE TAX PHP 28,723,949,060 $667,998,815
Financial Estimates
As of 26 June 2012
Income Statement
Note:
Exchange rate used:
1 US $ = Php43

YIELD
Project: SALAS - Tagaytay
Subject: Yield (Site A) Scheme 1
Date: 16-Apr-12
(in sqm.) Percentage (%)
Gross Area: 3,599,151.00
Roads 549,219.00 15.26%
Parks and greens 566,317.00 15.74%
Comm facilities/village center 149,134.00 4.14%
Saleable are 2,334,374.00 64.86%
commercial 28,224.00 0.78%
condo 26,104.00 0.73%
lots 2,280,046.00 63.35%
Efficiency 64.86%
100%
Morceau Del Ciel
Project: SALAS - Tagaytay
Subject: Yield (Site A) Scheme 1
Date: 16-Apr-12
(in sqm.) Percentage (%)
Gross Area: 3,599,151.00
Roads 549,219.00 15.26%
Parks and greens 566,317.00 15.74%
Comm facilities/village center 149,134.00 4.14%
Saleable are 2,334,374.00 64.86%
commercial 28,224.00 0.78%
condo 26,104.00 0.73%
lots 2,280,046.00 63.35%
Efficiency 64.86%
100%

Costing for Morceau Del Ciel Tagaytay / As of 20 June 2012
Sports Club
Morceau Del Ciel
By::

Condo Buildings
Morceau Del Ciel
By::

Common Facilities
Morceau Del Ciel
By::

Morceau del Ciel, Tagaytay

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