Price Lowered: Agtap Beach & Turtle Paradise - Improve the Master Plan & Triple this US$10M, Part 3 Bigaho (San Vicente, Palawan, PH - 5309) Built

$11,500,000 USD
Many are Selling this, Act NOW before it is SOLD.

Leuterio Realty and Brokerage

Douglas Fernandez Panares Douglas Fernandez Panares +639231683270 (Office) Request More Info

  • Promo up to Dec. 31, 2022 - from US$11.5M to US$10M
  • Type: Recreational
  • Style: Commercial
  • Development Level: Built
  • Lot Size: 118 hectares
  • Suite: Yes
  • Year Built: 2011

Description

How to Increase 10 times or even 20 times the Present Value of the Property, 118 Hectares Land Area covered by Tax Declaration?

The total area of AGTAP BEACH & TURTLE PARADISE is 118 hectares (1,180,000 sq. m.) with documentation. It is 100% of the corporation that is for sale including all the assets of the resort and also the lease agreement we have from the DENR government for the 25 years plus 25 years lease of the land area 14.19 hectares (141,900 sq. m.) called "Forest Land Use Agreement for Tourism" (FlagT).

The advantages of having the FlagT lease agreement
is that it allows almost immediate development of 50 pre-approved accommodation.

This FlagT area of 14.19 hectares (141,900 sq.m) covers our 4 beaches and 3 kms. of coastline in 2 private bays. We were the only corporation in the Philippines in 2019 to receive the Forest Land-use Agreement for Tourism (FlagT) from the DENR.

With a total area of 118 hectares: 14.19 hectares though a FlagT lease and the remaining 104 hectares with supporting documents in Corporation’s name include,-

a) Municipality of San Vicente - Zoning / Land use certification 118 hectares,
b) Provincial Engineering office - Topography Map 118 hectares.
c) Provincial Assessor’s office - Property Identification map 118 hectares with Tax Declarations.
d) DENR office - Compilation signed Map with Technical Description for 118 hectares.

Tourism Enterprise Zone Authority program (TIEZA)

Although the immediate prime development is 14.19 hectares which covers our 4 beaches and 3 km of coastline in 2 private bays (FlagT area), if you would want to extend the resort facilities by developing in the remaining 104 hectares, this can be done though the Special Tourism Enterprise Zone Authority program (TIEZA).

Increase the valuation of the land tenfold;
Alternately in the future, it will be possible to apply for a land title which would increase the valuation of the land tenfold.
San Vicente is 1 of only a few special areas in the Philippines that the government have chosen to be under the Tourism Enterprise Zone Authority (TIEZA).
Offering special Fiscal and Non-Fiscal Incentives for Development within the area.
Incentives include; -
Income Tax Holiday,
Net Loss Carry Over,
Gross Income Taxation,
Tax and Duty-Free Importation,
Employment of Foreign Nationals,
Special Investors Resident Visa,
Lease of Land to Foreign Investors etc.
see attachment below called 'TIEZA - Tourism Enterprise Zone Authority.' http://tieza.gov.ph

Corporation Info;
• Set up in 2006.
• Started operation in 2011.
• All permits and taxes are fully paid for 2020.
• The resort is only accepting potential buyers as of 2020.
Present structures
• 14 Accommodation all with Air-condition/ Satellite TV etc (Accommodates maximum 65 guests)
• 1 Executive villa, 5 Premier villa, 2 Deluxe honeymoon cottages, 4 Superior cottages, 1 Junior suite room & 1 Superior room.
• 1 Restaurant/ bar with 2 eating areas, generator house, management house, staff house, and security house.
• Powerhouse with Electric Generators.
• Smart repeater installed at the resort which provides phone/ Wi-Fi signal.

Double Taxation is a question we get asked about with foreign ownership. Please see the website below as many countries have double tax treaties with the Philippines, so tax is only paid in the country the business is set up.
https://www.bir.gov.ph/index.php/international-tax-matters/international-tax-agreements.html
Forbes: Philippines among 7 countries seen as top tourist destinations after COVID-19.(Dated June 6 2020) https://newsinfo.inquirer.net/1286936/forbes-ph-among-7-countries-seen-as-top-tourist-destinations-after-covid-19

Philstar.com: Philippines gets Safe Travels stamp from world tourism body. (24 September 2020)
https://www.philstar.com/headlines/2020/09/21/2043941/philippines-gets-safe-travels-stamp-tourism-body

The Resort for Sale presents the opportunity to own / sell this piece of paradise which is an EXCELLENT INVESTMENT OPPORTUNITY.


Valuation

The following factors play an important element on the value of the resort:

• Bureau of Internal Revenue (BIR) - Current Zonal Value of Area Php 5,200 sq.m (118 Hectares/ 1,180,000 sq.m) (Document No 80)

• 14.19 Hectares FLAGT @ 141,900 sqm x BIR Zonal Valuation (Document No 80) Php 5,200sq.m = P737,880,000 / US $14,611,485

• + 104 hectares with supporting documents in the Corporation’s name,-
Municipality of San Vicente - Zoning / Land use certification 118
hectares.
Provincial engineering office - Topography map 118 hectares.
Provincial Assessor’s office - Property Identification map 118 hectares
with tax declaration.
DENR - signed compilation signed map with technical description for
118 hectares.

• Independent Licensed Appraiser Report 2019 - valued at P654,564,767/ US $12,961,678 (Document No 85)

Rate of Sale – US $13,500,000 is now Reduced;
• The property 'Secret Paradise Resort' is owned by the Corporation with 100% of shares of the said corporation for sale.

• Rate of sale US $11,500,000 (@ rate 49 = Php 563,500,000).
Reduced from $13,500,000.

• The value per sq. m. is calculated as follows: 118 hectare’s/ 1,180,000 sqm = US $9.75 sq.m / Php 478 sq. m.
Method of Payment
• Payment for the corporation/ resort shall be in Cash or Bank Deposit in US $.
• Deposit of 20% shall be in Cash or Bank Deposit in US $ in the Name of the Registered Corporate Name that will be revealed to the Investor – Buyer.
Should you be interested to know more about the Resort, please tell us about yourself as an Investor - Buyer (email to Douglas@APREIB.com) and we will email the 3 Parts Power-point Presentations.

PROMO up to December 31, 2022 - PRICE REDUCE to US$10M.

Attachments

P2#490845723
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Information is deemed to be correct but not guaranteed.