To All Real Estate Agents
5/FDMCI HomesCorporate Center
1321 Apolinario St.Barangay Bangkal,
Makati City, Philippines 1233
TO ALL REAL ESTATE AGENTS
Subject: Properties of Interest to DMCI Homes
Gentlemen:
We are pleased to inform you that we are in the process of increasing our project portfolio to include developments of small properties (less than a hectare but more than 4000 square meters) in more accessible within or very close to the business/commercial districts.
In line with the above, the profile of properties we are interested in are as follows:
Location: This has not changed from our previous advice. In general we are interested in properties located in the Metro Manila Area (MMA). Our idea is to have project developments all over the cities and municipalities of the MMA. At present we are keenly interested in Manila, Quezon City, Paranaque, Pasig, Las Pinas, Marikina, Cainta, Malabon/Navotas, and Muntinlupa.
Size of Properties: Any property larger than 4000 square meters are of interest at the moment. A regular shaped property is most ideal.
Zoning Restrictions: Please take note that depending on the proposed or ideal development for the property, the properties offered should have the following zoning classifications. For all properties, industrial, commercial and/or residential classifications are necessary specifically minimum of R-3 for high rise developments with minimum FAR of 8, minimum of R-2 for mid rise developments and R-1 for subdivisions. Properties classified as agricultural should be reclassified before we would consider them for purchase.
General Requirements: Please take note of the following concerns:
1. We don’t land bank (that is, buy properties for inventory). What we buy, we develop immediately. Thus our preference is for properties that we can buy and take possession of at the soonest possible time.
2. For properties with existing improvements, please take note that these improvements have no value as far as we are concerned. In fact it is a burden for us to have these removed so we can develop the property. We prefer empty land but in Metro Manila, these are hard to come by. In such cases, we would prefer to have the Seller dismantle the improvements and the proceeds can be an extra source of income for them. We prefer that there are no legal impediments to the properties offered but in cases where the property is mortgaged to financial institutions, we would require that approval be secured from the creditors. Depending on circumstances, we may be willing to pay directly to these creditors and deduct these amounts from the purchase price of the property.
3. As a general rule, we frown on property offers with lis pendens due to cases involving ownership of the land.
4. Note that the above are preferences and not necessarily preconditions.
Should you have property offers not in conformity with the above, we are creating a data base on properties available so we still encourage you to submit these properties offers for our future reference. Our property purchase requirements change from time to time, and may be one of these days your property offer would be interesting to us in due time.
For your information and guidance.
Very truly yours,
Rey C. Salazar
SVP for Business Development