ABSTRACTDefinition of a CONDOMINIUM A condominium, or condo, is the form of housingtenure and other real property where a specified part of apiece of real estate (usually of an apartment house) isindividually owned while use of and access to commonfacilities in the piece such as hallways, heatingsystem, elevators, exterior areas is executed under legalrights associated with the individual ownership andcontrolled by the association of owners that jointly representownership of the whole piece. Colloquially, the term is often used to refer to theunit itself in place of the word "apartment". A condominiummay be simply defined as an "apartment" that the resident"owns" as opposed to rents.
Difference between a Condominium and an Apartment Complex The difference between a condominium andan apartment complex is purely legal: there is no way to know acondominium from an apartment simply by looking at or visiting thebuilding. What defines a condominium is the form of ownership. Thesame building developed as a condominium (and sold in individualunits to different owners) could actually be built someplace else as anapartment building (the developers would retain ownershipand rent individual units to different tenants). As a practicalmatter, though, builders tend to build condominiums to higher qualitystandards than apartment complexes because ofthe differences between the rental and sale markets. And aCondominium is also an “apartment” but the only difference is thatcustomers only rent the unit but in a Condominium, you can own it.
Characteristics of a CONDOMINIUM Condominiums can take many formsstructurally. They may be like regularapartments, or they may be townhouses. Infact, many are converted apartment houses ortownhouse complexes. Some condominiumcommunities actually offer individual standalonehouses; these communities look like typical housingtracts, but again the residents own only the airspace inside their homes. Even though each mayhave a fair amount of property, that property ismanaged by the association and not the individualowners.
QUALITIES of a CONDOMINIUM:•Hardwood Floors - for easier cleanup•Ceramic tiles in kitchen, bathrooms, and onlaundry room floors•Granite countertops in the kitchen - makes quickbreakfast cleanup a breeze•Crown Moulding and high ceilings for a sense ofspace•Entry Intercom and Security System•Laundry Room with appliances, so theres notrudging to a Laundromat•Large balcony for relaxing after work•Parking Garage access or reserved on-site parking•Storage Units for bikes and other equipment
I. Summary of Report A. Name of the Business SHAZZAM Condominium B. Location Bakakeng Rd., Baguio City C. Descriptive/ Definition of the Project A 32-storey building commercial-residential condominium located at Bakakeng Rd., Baguio City. The building is geared as a residential condominium to provide lodging accommodation for the growing number of transient market, as well as travellers and tourists in Baguio City. Being in a highly commercial and easily accessible location, the property will be an eye by numerous businessmen and entrepreneurs on the possibility of exclusively leasing the whole building from the owners.
D. Long Range Objective The purposes of this project are; for the owners, businessmen and inventors to accumulate income; to improve and progress the market and economic status of the country; to regain the capital used; to expand the condominium; to multiply branches nationwide and international; to be known around the world; to be responsive to the needs and objectives of our clients; to maintain and improve the quality of life and comfort for the building occupants.E. Highlights The project is consisting of: •Air-conditioned unit where each unit is composed of a Dining Area and two (2) rooms/quarters •King-sized water bed •52-inch Plasma TV (Wi-Fi ready) •Free Wi-Fi •Jacuzzi •Helipad •Standby Generator •Gym •Spa
F. Assumption The Shazzam Condominium will be known all over theworld. There will be more branches nationwide andinternational. There will be new management and crew. Thiscondominium will also charm and attract tourists. And Shazzamwill not only be a Condominium but a Restaurant, DepartmentStore and Hotel. And Shazzam Inc. will be the leading companyin the field of realty and propriety business. But still along the progress of this project, problems willoccur. Financial failure and misunderstanding between themanagement and investors will arise. But wise and criticalthinking of the owners will solve and overcome this type ofproblems.
G. Market Study A. Pictures The SHAZZAM CONDOMINIUM
H. Marketing Highlights Economic HighlightsA. Population GrowthPopulation growth rate decreased to 2.31 percent. The City of Baguio registered a total population of 252,386persons in the year 2000 up from 226,883 in 1995, giving the city anaverage annual growth rate of 2.31 percent, a decrease of 1.79 percentagepoints from the 1990 to 1995 period The number of households rose to52,302, higher by 4,231 households compared to the 1995 figure. This gavean average household size of 4.8 persons, a slight increase from 1995 (4.6)and lower than the national average of five persons. Baguio City rankedsecond in CAR Baguio City ranked second in terms of population sizecompared to the six provinces (Abra, Apayao, Benguet, Ifugao, Kalinga,Mountain Province), in CAR. This city contributed 18.5 percent to the 1.4million population of the region. At the national level, Baguio City shared0.33 percent to the Philippine population of 76.5 million as recorded in theCensus 2000.
POPULATION GROWTH OF FOREIGNERS IN BAGUIO In Baguio, the influx of Foreigners has caught some attention.According to the National Bureau of Immigration, Baguio now is hostto almost 10,000 foreigners. It has been reported that most offoreigners stay for two months during their vacation from schoolabroad. After which, a huge number would start to study full-time inBaguio universities.B. PRIMARY ECONOMY The primary economy of Baguio City is its educational centresof which it has in excess of seven colleges and universities as well as aplethora of trade and technical schools. Estimates are that theseschools compose in excess of one hundred thousand students. Thesecondary source of income for the residents is its character as thecommercial hub in the province of Benguet. Many of the agriculturaland mining goods produced in Benguet go to Baguio City for centraldistribution.
C. EDUCATION Baguio is a university town. It is considered as the centre of education inthe entire North Luzon. There are eight institutions of higher education in BaguioCity, two of which are ranked as being among the countrys top ten. Saint LouisUniversity, Baguio City University of Baguio University of the Philippines (BaguioCampus), University of the Cordilleras (formerly the Baguio CollegesFoundation), Baguio Central University, Pines City Colleges and Philippine MilitaryAcademy.FOREIGN ACADAMIES and SCHOOLS Foreign academies have proliferated all throughout the city especiallyKorean Academies. There are about 30 "registered" ones with an average of 50students each, excluding Foreigners charging their countrymen for "home stay"(board and lodging while studying in the universities) the prices of real estate rentalshas been driven up pretty high. To be able to house so many students becauseit is a lucrative business on their part, they have resorted, not only to rent thelarge, elegant vacation homes, but to rent all the small hotels and inns around thecity as well.
II. Technical Aspects A. The Property Shazzam Condominium is a three-storey structurelocated along Bakakeng Road., Baguio City. Though initiallyconceptualized to be commercial-residential condominium, anew opportunity has been realized and that the wholeproperty/building is now currently being leased by one businessentity. The building has been leased by a Korean Companyproviding Tutorial/Technical Courses for Korean Studentsresiding in Baguio City. Property Name :SHAZZAM CondominiumBusiness Address :Purok 9, Barangay Bakakeng, Baguio CityOwned by :The Office, Inc.
EXISTING FEATURES DESCRIPTIONB. Building Facilities BASEMENT Parking Slots Plain cement flooring, CHB walls, columns, beams, and Generator Area (Ground ceilings are painted cement finish. Administration office and to Floor) Guard House in ceramic floor finish, walls and ceiling paintedGROUND FLOOR Guard House Administration Office (a) Main Sliding main door, panel type service door, Kitchen CounterSECOND FLOOR Residence/Reception Area, and Preparation Table of granite slab finish. Overhead to Kitchen, Dirty Kitchen, cabinets and under the counter cabinets. Toilet and bath in Laundry Area , Common selected ceramic floor and wall tiles with shower and water 21st FLOOR Toilet and Bath heater. Laundry area and dirty kitchen in ceramic floor tiles (b) Three (3) Typical and assorted pebble wash-out floor finish with tubular steel Apartment Units, each unit trellis and polycarbonate finish. Each unit has a total floor with the following: area of 65 sq.m. Rooms in selected floor finish, painted stucco cement finish, with Panel-type main door. Living Area, Dining Area, Two (2) Room/Quarters (a) Main Residence/Master’s ceramic floor finish with 4” baseboard, painted plain plaster 22nd FLOOR Bedroom, Balcony, Toilet and cement wall finish. Toilet and Bath for Main Residence has to Bath Jacuzzi with bubble bath and shower with sliding enclosure. Dormitory has built-in closets, TV counter with cabinets, 32nd FLOOR (b) Dormitory-Type facility kitchen overhead, with computer tables. Lobby/Receiving Area, Lobby with Toilet/Washroom, 5 bedrooms/quarters, Common Kitchen, Common Toilet and Bath, Laundry Are
The SHAZZAMC. Utilities CONDOMINIUM •ELECTRICITY •WATER •TELEPHONE •INTERNET / Wi-Fi •GARAGE •CABLE D. Site Location The SHAZZAM CONDOMINIUM
III. Financial Aspects A. Start-Up Capital Requirements The financial need of the project is more or less Php 14,000,000,000.00. The said amount shall be used in paying the lot and construction of the building (including the contractor). The remaining amount will be used to start the business for the span of two to three years. And will be continued to use until the business is self-sustaining.
B. Start-Up Capital Source The financial needs of the project shall be sourced from thepartners’ equity. The business partners; (Businessman), ArraYangzon (Restaurant Owner), Kristinne Ardel Bendo(Investor), Ralph Litton Serrano (Businessman) and Joman Barral(Investor) shall contribute an initial amount of Php30,000,000.00 incash which is Php150,000,000.00. This amount will be used for theconstruction of the building only, not including the furniture andmaterials inside each unit of the condo. The said amount isestimated to be used in all expenses to be incurred during the pre-operating period and during the first half of the year of normaloperations. All purchases shall be on cash basis and sales are oncash discount basis. The furniture and materials inside each unit ofthe condominium will be sponsored by Globe Asiatique Lifestyle(Realty Holdings Corporation).
IV. Organization Management Joman Barral Ralph Litton Serrano Took up BS Architecture at MAPUA INSTITUTE OF TECHNOLOGY Took- up BS Accountancy at Topnotcher on Board Exam for Ateneo de Manila. Architectures. Topnotcher on Board Exam. President of the League of Vice President of Globe Architecture Asiatique Executive Planner Financing Manager Arra Clare Yangzon Archineil Sepeda Took- up BS Management at de Took- up BS Civil Engineering Lasalle University. at MAPUA INSTITUTE OF An interior Designer. TECHNOLOGY. Kristine Ardel Bendo One of the certified Interior Designer City Engineer of Baguio City. in Los Angeles California Took- up BS Political Construction Manager Interior Manager Science at Far Eastern University. Personal Adviser of President Aquino Marketing Manager