The LATITUDE & High Park Green - Proposed Hotel & Condominium Development - PROFORMA

Number of Residential Condo Units 931

Number of Hotel Key Rooms 90
Average Unit Size (SQM) 31.28

Net Residential SQM

Common Area SQM (est.)
Parking Garage
Total Project SQM 51,743

PROJECT REVENUE Total Ave. Per Unit

Gross Residential Revenue Php 2,811,744,000 Php 3,020,133

Structured Parking Php 157,700,000 Php 169,387
Less: Outside broker 2.50% Php 70,293,600 Php 75,503
Less: Closing Costs 0.15% Php 4,217,616 Php 4,503
Net Residential Revenue Php 2,894,932,784 Php 3,269,526

TOTAL PROJECT REVENUE Php 2,894,932,784 Php 3,269,526

PROJECT COSTS
Hard Costs
Land Acquisition Php 114,330,000 Php 111,978
Construction Php 1,269,478,100 Php 1,243,367
Building Permit & Fees Php 18,540,000 Php 18,158
Hotel Furniture & Equipment (FF&E) Php 76,426,515 Php 74,854
Builder Fee (Turn-Key) Php 126,947,810 Php 124,336
Total Hard Costs Php 1,605,722,425 Php 1,572,693

Soft Costs
Professional Fees Php 197,872,118 Php 193,802
Development Costs Php 166,039,402 Php 162,624
Interest/Finance Costs Php 167,437,549 Php 163,993
Total Soft Costs Php 531,349,069 Php 520,419

TOTAL PROJECT COSTS Php 2,137,071,494 Php 2,093,112

Developer Returns

NET PROFIT Php 757,861,290

Net Profit Per Unit Php 814,029
Hotel including furnitures and fixtures Free & Clear No Debt

No breakdown for income & expense on the hotel portion, net profit will depend on the exit strategy of the Developer & Equity investors.
Based on this financial proforma the hotel structure including interior fit-out, furnitures and equipment is free and clear of any loan debt obligation.
The structures and FF&E of the hotel component is covered by the construction and total project costs. All prices had to be estimated. In order to
get a hard price we would send out for proposalss to get competitive prices. Bldg. fees were modeled after a similar size project as per architect and
engineering trades consultation.

**Any/all projections, opinions, estimates used throughout are and should only be used as an example only and do not represent the current and/or
future performance of the property. Potential buyers and their representatives and/or advisers should conduct a careful, independent investigation
of the proposed property in pursuit of their own determination of suitability and investment guidelines.