PROJECT BRIEF

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                Heaven Garden Memorial Park Phase 1, started in 1996 by its Chairman and President, Ramon Ernesto G. Tagle. During that time nobody wanted to buy real estate in Baguio because of the killer quake in 1991. In fact most were selling. The only viable real estate development at that time was a memorial park.

 

            The total lot area is 68,639sqm or 6.8 hectares. Only 3.4ha was developed into Phase 1. The other half was undeveloped and is now identified as Heavens Garden memorial Park Phase 2.

 

            The President of VTA, wanted to develop the remaining 3.4ha into a housing project. But the City Government of Baguio prefers a memorial park because the area is identified in the City Land Use Plan as a memorial park expansion.

 

            HGMP Phase 2 is already complete with the Development Permit. It has already complied with the Local Government, DENR, DOH requirements. HGMP Phase 2 is “shovel ready”.

 

            The memorial park business is a very viable and lucrative business in Baguio City. First, all private and public cemeteries are all full. Pyramid Memorial Park, Baguio Cemetery, Baguio Memorial Park, Everlasting Memorial Park, are all full. Second, Baguio City has a mortality rate of 1,800 per annum. If you project that into 5 years, that would be equivalent to 9,000 mortals in only 5 years. Third funeral parlors, columbarium and crematorium are not anymore allowed in Baguio City, except those inside a memorial park. Thus, making a memorial park a one-stop-shop for this kind of business, therefore making it extra viable.

 

            HGMP Phase 2, based on its master development plan, would have around 5,220 lot inventories. Based on the projected, initial market price, the gross sales projection would be P800M. However, the potential of hitting the P1 Billion mark is not a remote possibility. This is because, it’s a sellers’ market, and therefore price may increase.

 

            The initial fund requirement would be P200 Million to initially develop the Memorial Park Phase 2. We are attaching a copy of the projected expenses and income, for the further evaluation.