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Project: 261 670 90: Developer Proforma For Mixed-Used Hotel & Condominium Project

The document is a pro forma for a mixed-use hotel and condominium development project consisting of 261 residential condominium units, 670 residential condo units, and 90 hotel rooms. It outlines the development budget including land costs of PHP 114.33 million, soft costs of PHP 531.35 million such as professional fees, development costs, and interest costs. Hard costs are PHP 1.49 billion including new construction at PHP 24,475 per gross square meter, hotel furniture and equipment, and a builder fee. The total project costs are PHP 2.14 billion.

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Reden Mejico Pedernal
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197 views1 page

Project: 261 670 90: Developer Proforma For Mixed-Used Hotel & Condominium Project

The document is a pro forma for a mixed-use hotel and condominium development project consisting of 261 residential condominium units, 670 residential condo units, and 90 hotel rooms. It outlines the development budget including land costs of PHP 114.33 million, soft costs of PHP 531.35 million such as professional fees, development costs, and interest costs. Hard costs are PHP 1.49 billion including new construction at PHP 24,475 per gross square meter, hotel furniture and equipment, and a builder fee. The total project costs are PHP 2.14 billion.

Uploaded by

Reden Mejico Pedernal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DEVELOPER PROFORMA FOR MIXED-USED HOTEL & CONDOMINIUM PROJECT

Project : Number of Units: Category:


HIGH PARK GREEN 261 Residential
The LATITUDE 670 Residential
TESLA Hotel 90 Hotel

DEVELOPMENT BUDGET All amounts in PhP X 1,000

Land
Real Estate Land value (Current) 103,000,000
Property Transfer Tax 8,755,000
Other Closing Costs (assessment, taxes, registration, legal, etc.) 2,575,000
Total Land Cost 114,330,000

SOFT COSTS Per Sqm Per Room


Professional Fees
Architects 2.0% of Hard Costs 25,871,500
Interior Architect 0.8% of Hard Costs 10,409,720
Engineers (MEPF) of Hard Costs 56,330,150
Survey & Geotech Engineering 650,000
Developer Fee 8.0% of Hard Costs 101,558,248
Legal (Cost per Unit) Php 2,500 per unit 2,552,500
Market Study 200,000
Environmental Phase I 300,000
Total Professional Fees 197,872,118

Development Costs
Construction Project Management 2.0% of Hard Costs 25,389,562
Marketing, Advertising & Promotion 0.3% 5,491,008
Research and Appraisal 700,000
Insurance 1.0% 12,694,781
Accounting Fees Php 51,500 per room 4,635,000
Working Capital (Cash On Hand) Php 51,500 per room 4,635,000
City Council Zoning Approvals Php 10,000 per unit 10,210,000
Finance Fee (% Project Costs) 0.8% 10,767,236
Contingency (% development costs) 5.0% 91,516,815
Total Development Costs 166,039,402

Interest Costs
Interest Cost, Construction Finance 6.5% 87,483,799
Interest Cost, Equity Investment 8.0% 55,620,000
Loan Fee 24,333,750
Total Interest Costs 167,437,549

TOTAL SOFT COSTS 531,349,069

HARD COSTS Gross SQM Per Sqm Ave./unit


Construction (Hard Costs)
New Construction Php 24,475 51,743 1,269,478,100
Building Permit Fees 18,540,000
Hotel Furniture & Equipments (FF&E) Php 849,183 per room 76,426,515
Builder Fee (Turn-Key) 10.0% 126,947,810
Total Construction (Hard Costs) 1,491,392,425 28,823 1,460,717

TOTAL HARD COSTS + SOFT COSTS 2,022,741,494 39,092 1,981,137

TOTAL PROJECT COSTS 2,137,071,494 41,301 2,093,116

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