Manila Bay City Masterplan – Investment Opportunity

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INVESTMENT PACKAGE :

I am currently working on a rare investment opportunity for office units located within the Entertainment City which will cater to the Business Process Outsourcing, particularly, On-Line Gaming to name a few.  This office building which will be PEZA registered  is already built up 28 floors with another 6 floors to be added and delivered in 14 months.  This investment will be sold with ready tenants.  Only ten floors will be available for an introductory price of Php 65,000.00 per square meter, the template of the whole floor is 1540 square meters.  All payments will be channelled through an ESCROW to secure the interest of both Investor and Developer.  Should other units be offered to the public in the future, selling price will be at Php 100,000.00 per square meter.

Manila Bay City Masterplan

Here’s a 2013 video of Manila Bay City Masterplan when most of what we see at the Entertainment City was still under construction ( Solaire, City of Dreams, etc ).  Of course you can’t rule out the pessimistic view of the general public then.  All the inspiring and unpleasant stories of what it took to make this Development a Reality.

This Development is now seen as the next booming area offering tremendous opportunities to both foreign and local investors.

What’s amazing is how quietly the On-Line Gambling opportunity has captured the Business Process Outsourcing sector.

View the Masterplan on the link below :

 

This Development is now seen as the next booming area offering tremendous opportunities to both foreign and local investors.

What’s amazing is how quietly the On-Line Gaming opportunity has captured the Business Process Outsourcing sector.  Well known Buildings in Makati are now filled with On-Line Gaming companies !

Below is an article from CalvinAyre.com explaining the details of this opportunity.

PHILIPPINES

CalvinAyre.com says – The Philippines is a unique and highly valuable gaming license to hold as it’s the sole license available to companies who want to do business in the highly lucrative Asian Gaming Market. A license with First Cayagan is worth the price of admission. (5 Stars)

Philippines emblemSouth East Asia is the home to what has come to be recognized as the world’s most favorable jurisdictions for licensing and regulation of iGaming – the Philippines. Seated in the heart of the iGaming industry’s fastest growing market, Asia, means that it’s at the forefront of the globe’s online gambling industry. Investment in high-speed internet and state of the art infrastructure shows how serious they are about the industry. It’s attracting many of the world’s best gambling companies come here to do business.

Setting up a firm in this jurisdiction is more expensive than other options but there is a favorable enough tax system for overseas firms and the rewards at the end will make the initial fees seem very small. Player and fraud protections are something that is taken very seriously and there is exceptional provision for firms that decide to set up here. This includes being able to set up a dedicated network centre/hub using their state of the art servers and meaning that you are able to offer the best service in the best location.

Type of Company Entity Available for iGaming Firms:
Any limited company can become a CEZA registered enterprise.

Corporation Tax Rate:
Four to six-year income tax holiday (four year for non-pioneer firms and six for pioneers.) A special tax rate of 5% on gross income in lieu of national and local taxes. Foreign corporations also receive tax credits.

Additional Gaming Tax Rate:
Under the Restrictive Interactive Gaming License there is a tax of US$48,000 for the first year and then $60,000 for every year that it’s renewed for the first sporting event offered. This is paid up front.

Minimum Share Capital for an iGaming Company:
None

Security Requirements/Indemnity for Players Deposits:
Adequate funding must be maintained to pay all current obligations. Winnings and account balances will be paid promptly and on demand.

LICENSE FEE:

Full license: (covers e-casino and sports book):
New application includes a fee of US$40,000 (includes non-refundable US$15,000 deposit upon submission and $25,000 that will be refunded if application is unsuccessful).

Gaming levy is 2% of gross win per month from e-casino operations.

Additional US$48,000 per annum for sports book operations payable upon issuance of license

Renewal fee: US$40,000

US$15,000 of the Renewal Fee maybe offset against the gaming levy payable each year.

Gaming levy of 2% of gross win per month from e-casino operations

US$60,000 per annum for sports book operations payable upon issuance of license

RESTRICTIVE INTERACTIVE GAMING LICENSE (sports betting):
New application includes a fee of US$26,000 payable on submission of application. US$18,000 of the fee is refundable if application is unsuccessful.

US$3,500 probity cost is chargeable per application.

For every additional sporting event a fee of US$2,000 is payable per year.

Upon renewal you pay a fee of US$15,000 payable on submission of the documentary requirements necessary for renewal.

US$ 60,000 per annum  for Restrictive Interactive Gaming Tax payable up front upon the renewal of the license.

License Duration:
12 months

Do Local Banks Process Online Gaming Transactions:
Yes

Bandwidth Type Available:
Online gaming industry operators are able to set up a network operation centre/hub with First Cagayan’s internet server and take advantage of the country’s high-speed services of up to DS3 capabilities.

Software Testing Requirements:
All software must be able to run on the network operation centre/hub and be designed to ensure complete privacy and confidentiality.

Reporting Requirements to the iGaming Regulators and/or Financial Regulator:
All banking and financial affairs will be conducted in accordance with generally accepted standards of recognized international banking institutions. Transaction reporting will comply with guidelines defined by the regulator.

Anti-Money Laundering Policy for iGaming Firms:
All licensees will have controls in place to detect and eliminate fraud

Restrictions on Jurisdictions from which you can take Wagers:
Bets can only be accepted from offshore players and only on offshore sporting events. No bets to be accepted from Filipino residents or on sporting events in the Philippines.

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The key to understanding the legal landscape of online gaming in the Philippines is to draw a clear dividing line between the country as a whole and the Cagayan Special Economic Zone.The Cagayan Special Economic Zone and Freeport, also known as Cagayan Freeport, is supervised and managed by the Cagayan Economic Zone Authority (CEZA). Internet gaming licenses are available directly from Cagayan Freeport, and CEZA has the legal authority to approve online gambling applicants without prior acceptance from any national government agency.The actual country of the Philippines has a very different approach to online gaming.The state-owned and controlled Philippines Amusement and Gaming Corporation (PAGCOR) is the sole authorized gambling operator in the Philippines. The company operates casinos, bingo, sports betting, and betting exchanges online and through brick-and-mortar establishments.In 2000, PAGCOR authorized the Sports and Games Entertainment Corp. as the exclusive operator of the Philippines’ only online casino. In 2002, the government allowed Philweb Corporation, in cooperation with PAGCOR, to regulate and tax online gaming sites based in the Philippines.To facilitate online gaming, Philweb launched Modular PAGCOR e-Games Cafes (MPEGs). MPEGs are large mobile shipping containers and can be easily moved from one location to another if a particular area is not generating sufficient business. The containers come complete with computer terminals and cashier facilities. Philweb does not have competitors in the online gaming sector within the Philippines. The most popular online game in the Philippines is baccarat, which accounts for 30 to 40% of the gaming volume.

PAGCOR also offers franchised e-Games Cafes. Operators may choose between a rented space and a modular cafe. An e-Games Cafe may be owned and operated with a start-up cost between PhP1.2M to PhP1.5M. There are no franchise fees, only a processing fee, and monthly revenue is 28% of casino winnings. The typical payback period is 12 months. An e-Games Cafe must be at least 200 meters away from educational institutions or places of worship and religious centers and at least 1 km away from existing PAGCOR e-Games Cafes.

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For further details on this investment, please call our office at 8041701 or 5148481.

Visit www.robertgsarmiento.org for blogs, news, case studies and property listings which you may find informative.

thank you.

robert
Robert G. Sarmiento Properties
Professional Affiliation :
Real Estate Broker’s Association of the Philippines
President, Greenhills Chapter 2008, 2009
Philippine Association of Real Estate Brokers
San Juan Mandaluyong Chapter 1998, 1999
PRC # 6569
AIPO # 000897
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