Morong Bataan Eco-Tourism & Industrial Park For Sale


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Morong Bataan Eco-Tourism & Industrial Park

Philippine Licensed Real Estate Broker
PRC REBL No.13690

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Morong Bataan Eco-Tourism & Industrial Park For Sale

  1. 1. Morong Eco-Tourism and Industrial Park Project Page 1 of 8MORONG ECO-TOURISM AND INDUSTRIAL PARK PROJECTMorong Special Economic Zone, Barangay Binaritan, Morong, BataanAbout the Project:The site of the project is a 192 hectares private property located inBrgy. Binaritan, Municipality of Morong, Province of Bataan. Theproperty is where the former United Nations Philippine RefugeeProcessing Center was located which offered Friendship, Hope andNew Beginnings to some 400,000 refugees from Vietnam, Laos andCambodia. The property houses 11 symbolic monuments andshrines constructed by the former Indo-Chinese refugees. However,after the refugees left, the property was reclaimed by its privateowners, and starting in 2008 BTPI has stopped all projects and nowready to leave the premises.A private concreteroad passes at themiddle of the entireproperty from theSBMA-Morong Roadalso called the UnitedNation Highway. Anatural boundary is ariver/creek which is thesource of the abundantwater supply system.
  2. 2. Morong Eco-Tourism and Industrial Park Project Page 2 of 8INVESTING IN THIS PROPERTY(the former Bataan Technological Park, Inc.)Investors who wish to put up business here canenjoy the following benefits as economic zone:a. Five percent (5%) levy on Gross IncomeEarned (GIE) in lieu of all national and localtaxes and duties;b. Tax and duty-free importation of rawmaterials and capital equipment; andc. Management of the zone as a separatecustoms territory, ensuring free flow ormovement of goods and capital equipmentwithin, into and exported out of the zone.The property provides vast agricultural land where there is available agri-industrial-based labor. It enjoysthe benefits and incentives of a Morong Special Economic Zone (MSEZ). With its size and accessibility, itshowcases its potential as a retirement haven, a corporate training center, and a zone for environment-friendly small and medium-scale industries through its increased accessibility, investor perks, andproximity to the Subic Freeport Zone and the Clark Freeport Zone - not to mention the mushroomingresidential and resort developments along the Morong-Bataan coastline.GETTING THEREOverlooking the South China Sea, the property is situated inthe most advanced and dynamic region in the country, as it lieswithin the area of the Manila-Clark-Subic Economic Triad. It isjust a 20-minute drive from Subic via SBMA-Morong Road and2 ½ hour-drive from Manila via the SCTEX. Aligned with thedevelopment of Ayala Lands ANVAYA COVE, the property canbe reached by sea through the operation of a passengerterminal for a direct ferry transport to Manila at the BinangaPort in Morong.
  3. 3. Morong Eco-Tourism and Industrial Park Project Page 3 of 8MORONG SPECIAL ECONOMIC ZONEIn March 1997, the entire Municipality ofMorong was proclaimed as theMorong Special Economic Zone (MSEZ),with the BTPI (Bataan Technology Park,Inc.) as its Main Zone but even without theBTPI the property will remain as anindustrial by virtue of the MSEZproclamation investors and locators in theMSEZ may avail of a full range financialand fiscal incentives.THE SUBIC-CLARK-TARLAC EXPRESSWAYStarted on April 5, 2005, the Subic-Clark-TarlacExpressway (SCTEX) is the country’s longestexpressway with 93.77 kms. Commercial operationsstarted on April 28, 2008, with the opening of the Subic-Clark Segment and Zone-A of the portion of Clark-TarlacSegment. The opening of Zones-B and C of theremaining Clark-Tarlac Segment on July 25, 2008 signalthe full operations of the SCTEX.The SCTEX seeks to transform the Central Luzon regioninto a world-class logistics hub in the Asia-Pacific regionthrough the integration of economic activities in the SubicBay Freeport, the Clark Freeport Zone, and the CentralTechno Park in Tarlac and by linking major infrastructuressuch as the Seaport in Subic and the DiosdadoMacapagal International Airport in Clark.LATEST DEVELOPMENTAvailable when needed is an EXECUTIVE SUMMARY detailing the historical background how and whythe property got into the hands of the current title holders of the some 192 hectares. The executivesummary was prepared in coordination with the government agencies in Bataan such as Department ofAgrarian Reform (DAR), the Department of Environment and Natural Resources (DENR), the Register ofDeeds (RD), the Bases Conversion and Development Authority (BCDA), and the Local Government ofMorong, Bataan. However, they are not supposed to sign into this paper for obvious reason. In short,there is no any legal impediment for the transfer of the title to any third party. These government agenciesrecognize the fact that the property is private from the very start.The private owners before the BCDA proclamation seeded the property to the current title holders througha deed of assignment and the ownership is doubly valid because the Department of Agrarian Reformcovered the property and thereafter granted to farmers-beneficiaries. However, the industrial classificationof the property stays since the whole Municipality of Morong is classified at Special Economic Zone.ECO-TOURISM PROJECTThe property is an excellent location for an Eco-Tourism & Industrial Park because it is already developedinto eco-tourism ventures. Proximity-wise, it is accessible to CLARK and SUBIC which are the homes oftourists not to mention the plan of the Disneyland to put-up in the vicinity of Clark-Subic-Morong.
  4. 4. Morong Eco-Tourism and Industrial Park Project Page 4 of 8The Bataan Technology Park Inc, as shown in their master plan which they stopped implementing whenthe property was reclaimed by private owners, actually planned to establish a retirement housing village,a mixed use area for agro-industrial establishments, an institutional area, a staff housing area, a leisureand commercial business area, an area for sports village, a golf course, a leisure subdivision andhousing.PRICE:The property is being sold at an agricultural price of PhP 1,500.00/sqm, although the property is classifiedas commercial-industrial by virtue of the proclamation of the whole Municipality of Morong as SpecialEconomic Zone considering that it is already developed and existing facilities are included without addedcost. In fact, a nearby Anvaya Housing Subdivision is being sold at PhP 12,000 to PhP 20,000 per squaremeters.OPTIONS:1. Purchase: The entire 192 hectare property is actually for sale at P1,500.00/square meter, a priceconsidered very cheap for an industrial-commercial land. It could be sold on spot cash or throughinstalment by pay 30% down payment and the owners will work for the transfer of the title within2-4 weeks under the name of the buyer. Upon delivery of the TCT to the buyer company, thebuyer shall pay the 70% balance through instalment for one (1) year.In fact, upon payment of the 30% down payment, the buyer can take over the property by postinghis own security guards and operate the existing facilities consisting of eco-tourism facilities,administration building, sport facilities, swimming pools and housing cottages, concrete feederroads, water system, electric power system, and museums, without added costs;TheterminatedBTPI MasterPlan
  5. 5. Morong Eco-Tourism and Industrial Park Project Page 5 of 82. Joint Venture: you may likewise opt to enter into a Joint Venture where you pay the 40% of thetotals value of the property to enable the owners to transfer the title in the name of the JointVenture company. The 60% of the total value of the property will form as the equity of the currentproperty owner in the Joint Venture Project.The terminated project were estimated to cost some PhP 2 Billion Pesos and generate some P10 BillionPesos in revenues for a period of 3 years, which is more than double the price of the land and cost ofproject development, if the same master plan is realized by those whoever will purchase the property.THE MORONG ECO-TOURISM & INDUSTRIAL PARKThe project will continue the concepts started by the debunked BTPI in the areas of a Mix of Residential,Commercial, Institutional, Recreational and other Support Facilities. Just about 20-minutes drive, one canenjoy SBFZs Tourism, recreational and Air & Sea Port Facilities. The projects long-term vision is tobecome an agri-industrial technology park that shall focus on modern and leading edge-biotechnology.Attached are some pictures of the existing facilities which are included in the sale with no added cost to the buyer. The pictures taken on March17, 2012.
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