SOUTH ROAD PROPERTIES

LAND DEVELOPMENT COST

LAND DEVELOPMENT COST (Indicative Cost)

Total Property 263,384.00 10%

Year Covered 2020
Land Development Cost (Indicative Cost) Amount cost/sqm
Preliminaries & Enabling Works
Preliminaries 54,563,908 776
Civil Works (with backfilling cost)
Survey Works 915,183 13
Backfilling 51,543,596 733
Compaction & Grading 80,487,307 1,144
Roadways 110,540,835 1,572
Wet Utilities 90,880,707 1,292
Dry Utilities 95,460,643 1,357
Add-ons 94,764,136 1,347
Subtotal - Preliminaries & Enabling Works 579,156,315 8,234
Additional Utilities - Tapping Points along Mambaling
Road)
Power & Telco 9,273,060 132
Water & Drainage 12,555,626 179
Drainage Outfall Provision 34,408,355 489
Subtotal - Additional Utilities 56,237,042 800

Total Development Cost 635,393,357 9,033

Other Costs
Planning Money 5.7% 35,991,410 512
Contingency 3.0% 19,061,801 271
GAE During Construction 3.0% 19,061,801 271
Subtotal - Other Costs 74,115,011 1,054

Total Project Cost 709,508,368 10,087

BACKFILLING AND COMPACTION COST

Backfilling and Compaction Cost
Amount cost/sqm
(Indicative Cost)
Backfilling
Area to be backfilled (roads &
39,649 sqm
open space)
Height of backfill 2 meters
Soil volume plus 30% for
130%
compaction
Cost/cu.m (imported soil
P500/cu.m
delivered on site)
Subtotal - Backfilling 51,543,700 2,094

Compaction and Grading

 Lot Area 39,649 sqm
Compaction and Grading for
x7 277,542 cu.m
every 0.30 meters of fill
Cost/cu.m P290/cu.m
Subtotal - Compaction and Grading 80,487,180 492

Total Backfilling and Compaction Cost 132,030,880 2,586

PLANNING MONEY

Planning Money Amount cost/sqm

Master Plan
Master Planning P50/USD 2,571,400 16
Utilities and Engineering Design 2,242,966 14
Subtotal 4,814,366 29

Others
APMC Services 3,402,000 21
MDC CM Services 3,600,000 22
3rd Party CM 0.50% 3,176,967 19
3rd Party QS 1,445,136 9
Landscaping 2,800,541 17
Due Diligence Studies 2,776,742 17
Traffic Impact Analysis 0.20% 1,267,791 8
Miscellaneous (Pre-ops, Permits,
2.00% 12,707,867 78
Marketing, etc.)
Subtotal - Others 31,177,044 191

Total 35,991,410 220

II. Partial Planning Money revised by IC (November 13, 2015)

Planning Money Amount cost/sqm
To be shared with SMPHI
Master Planning 5,980,000 37
Utilities and Engineering Design 5,214,987 32
3rd Party CM 7,386,577 45
3rd Party QS 3,360,000 21
Landscaping 6,511,373 40
Due Diligence Studies 6,456,038 39
Traffic Impact Analysis 2,947,665 18
Permits 3,693,289 23
Subtotal - To be shared with SMPHI 41,549,928 254

Specific to Ayala Group

Permits and Licenses 1,588,483 10
Other pre-ops 3,812,360 23
Subtotal 5,400,844 33

Total 46,950,772 287

MASTERPLANNER

Master Planner Amount cost/sqm

Design Proposal
Mobilization
Site & Data Analysis 27,500 18,774
Preliminary Masterplan 38,500 26,283
Final Masterplan 44,000 30,038
Subtotal 110,000 75,095

Others
Design Guidelines included
Travels 9,600 7,730
Miscellaneous included
Subtotal 9,600 7,730

Total 119,600 82,825

DUE DILIGENCE

Technical Due Diligence Amount cost/sqm

MDC Proposal (signed Aug. 23, 2015)
Survey Works 1,080,342 7
Geotechnical Investigation 1,132,000 7
Geotechnical Evaluation 181,500 1
EGGAR 240,900 1
Existing Site Utilities Study - 0
Inspection Fee 42,000 0
Total 2,676,742 16

Legal Due Diligence Amount cost/sqm

Based on partnering rates with AGLegal
Vismin & Northern Luzon 1-5 Titles 250,000 1.53
Total 250,000 2
ELEMENTAL COST
BASED ON 4TH QUARTER 2018 CONSTRUCTION COST

HORIZONTAL DEVELOPMENT (OPEN MARKET = AYALA NORTH POINT; MID MARKET = ASYADA & VE

ECONOMIC MID-MARKET
LAND DEVELOPMENT (RESIDENTIAL)
PESO/SQM PESO/SQM

Preliminaries 10% 124 247

Earthworks 127 154
Storm Drainage 161 321
Water Supply 96 193
Road Excavation & Pavement 193 487
Sewer System 0 0
Electrical + TelCo + CATV Supply 509 1,018
Block Development 68 136
Perimeter Fence (Entire Subdivision) 82 165

* Assumed no Cut/Fill on Site, No retaining wall

Subtotal 1,361 2,721

GAE (During Construction) 5% 68 136

Contingency 5% 71 143

TOTAL LAND DEV'T COST FOR RESIDENTIAL 1,500 3,000

ECONOMIC MID-MARKET
AMENITIES / FACILITIES
PESO/SQM PESO/SQM

Preliminaries 10% 66 124

Clubhouse + Guardhouse 420 547
Sports Facilities 0 91
Playground 92 105
Swimming Pool 0 307
Streetlights 43 50
Landscape 66 105
Sewer Treatment Plant / Materials Recovery Facility 39 30

Subtotal 726 1,361

GAE (During Construction) 5% 36 68

Contingency 5% 38 71
TOTAL AMENITIES FOR RESIDENTIAL 800 1,500

ECO (SINGLE) ECO (ROW)

HOUSE CONSTRUCTION
PESO/SQM PESO/SQM

Preliminaries 10% 2,061 1,237

Architectural 4,691 2,864
Structural 9,149 5,825
Electrical 532 543
Plumbing 955 1,451
Painting 3,252 986

Perimeter Fence 2,034 699

* Assumed Standard Finish

Subtotal 22,676 13,605

GAE (During Construction) 5% 1,134 680

Contingency 5% 1,190 714

OVERALL COST /AREA 25,000 15,000

MID MARKET = ASYADA & VERDANA; ECONOMIC = AMAIA SCAPES TALISAY)

OPEN MARKET
PESO/SQM

412
151
266
277
524
359
1,878
445
222

4,535

227
238

5,000

OPEN MARKET
PESO/SQM

206
821
137
158
460
76
158
251

2,267

113
119
 2,500

ECO (DUPLEX) MID (SINGLE) MID (ROW) MID (DUPLEX)

PESO/SQM PESO/SQM PESO/SQM PESO/SQM

1,649 2,886 2,061 2,474

3,968 6,567 4,773 5,952
7,344 12,809 9,709 11,016
679 745 905 1,019
1,798 1,337 2,419 2,697
1,234 4,553 1,643 1,851

1,468 2,848 1,165 2,201

18,141 31,746 22,676 27,211

907 1,587 1,134 1,361

952 1,667 1,190 1,429

20,000 35,000 25,000 30,000

ELEMENTAL COST
ELEMENTAL COST BASED ON 4TH QUARTER 2018 CONSTRUCTION COST

VERTICAL DEVELOPMENT
10%
TOTAL COST PER AREA PROFESSIONAL SERVICE
BUILDING TYPE
PESO / sqm PESO
DOMESTIC
Apartments (High rise, average standard) 56,753 to 69,600 4,870
Apartments (high rise, high end) 73,273 to 124,074 3,285
Terraced Houses, average standard 44,497 to 54,297 1,979
Detached Houses, (High end) 95,046 to 161,095 4,236

OFFICE / COMMERCIAL
Medium / High rise offices (Average standard) 56,262 to 65,716 4,846
High rise offices (Prestige quality) 76,334 to 84,894 6,569
Out-of-town shopping centre (Average standard) 42,418 to 56,996 3,659
Retail malls (High end) 66,121 to 92,404 5,678

HOTELS
Budget Hotels (3 star, mid market) 72,190 to 80,237 6,210
Business Hotels (4 to 5 Star) 81,391 to 98,259 6,998
Luxury Hotels (5 Star) 112,087 to 154,624 9,618

INDUSTRIAL
Industrial Units (Shell only, conventional single storey fr 29,371 to 35,853 2,519
Owner operated factories, low rise, light weight industry 28,481 to 39,269 2,444

OTHERS
Underground/basement car parks (<3 levels) 29,253 to 36,567 2,565
Multi storey car parks, above ground (<4 levels) 28,734 to 40,347 2,467
Schools (Primary and Secondary) 42,274 to 57,774 3,642
Students' residences 44,790 to 57,115 3,853
Sports club, multi purpose leisure centres (dry sports) 72,066 to 104,755 6,160
General Hospitals (Public Sector) 77,735 to 92,907 6,687
 10% 5% 5% 3% 3%
PROFESSIONAL SERVICES SITE ADAPT LANDSCAPING BUILDING STRUCTURE
/ sqm PESO / sqm PESO / sqm PESO / sqm

to 5,988 1,990 to 2,333 1,194 to 1,400 39,790 to 46,650

to 5,558 2,676 to 4,604 1,606 to 2,762 53,526 to 92,080
to 2,420 1,841 to 2,179 1,104 to 1,307 36,813 to 43,581
to 7,184 3,801 to 6,390 2,281 to 3,834 76,027 to 127,806

to 5,675 1,849 to 2,060 1,109 to 1,236 36,978 to 41,196

to 7,332 2,547 to 2,651 1,528 to 1,590 50,940 to 53,011
to 4,931 1,356 to 1,722 813 to 1,033 27,110 to 34,440
to 7,956 2,292 to 3,055 1,375 to 1,833 45,846 to 61,091

to 6,923 2,427 to 2,552 1,456 to 1,531 48,547 to 51,031

to 8,479 2,761 to 3,119 1,657 to 1,872 55,225 to 62,389
to 13,315 3,928 to 5,101 2,357 to 3,061 78,554 to 102,027

to 3,091 1,039 to 1,160 624 to 696 20,789 to 23,206

to 3,387 1,002 to 1,258 601 to 755 20,035 to 25,169

to 3,219 1,039 to 1,160 0 to 0 20,789 to 23,208

to 3,485 1,002 to 1,258 601 to 755 20,035 to 25,169
to 5,021 1,384 to 1,587 830 to 952 27,678 to 31,734
to 4,943 1,505 to 1,717 903 to 1,030 30,099 to 34,336
to 8,963 2,689 to 3,855 1,613 to 2,313 53,783 to 77,095
to 8,036 2,609 to 2,821 1,565 to 1,693 52,183 to 56,427
MECH & ELECT SERVICES ELECTRICAL MECHANICAL FIRE PROTECTION
PESO / sqm PESO / sqm PESO / sqm PESO /

8,910 to 13,230 3,600 to 4,300 1,360 to 2,530 850 to

12,180 to 19,070 3,900 to 6,300 2,530 to 4,430 950 to
2,760 to 4,810 1,400 to 1,800 630 to 1,400 0 to
8,700 to 15,880 3,000 to 5,800 2,910 to 4,470 0 to

11,480 to 15,550 3,500 to 4,700 4,000 to 5,000 950 to

14,750 to 20,310 4,800 to 6,000 4,500 to 5,930 1,050 to
9,480 to 14,870 3,060 to 5,100 2,890 to 5,100 1,090 to
10,930 to 18,470 3,600 to 6,000 3,310 to 6,840 1,300 to

13,550 to 18,200 4,900 to 5,800 3,500 to 5,000 1,100 to

14,750 to 22,400 5,200 to 7,500 4,250 to 6,100 1,200 to
17,630 to 31,120 5,500 to 9,200 4,950 to 9,670 1,480 to

4,400 to 7,700 2,000 to 3,500 800 to 1,500 800 to

4,400 to 8,700 2,000 to 3,500 800 to 1,500 800 to

4,860 to 8,980 2,000 to 3,500 900 to 1,950 900 to

4,630 to 9,680 1,800 to 3,300 650 to 2,210 1,020 to
8,740 to 18,480 3,300 to 4,900 1,450 to 6,580 900 to
8,430 to 15,090 3,600 to 4,300 850 to 2,440 850 to
7,820 to 12,530 2,900 to 3,770 1,800 to 2,870 480 to
14,690 to 23,930 5,000 to 8,000 4,700 to 7,300 1,240 to
FIRE PROTECTION LIFTS / ESCALATOR PLUMBING
sqm PESO / sqm PESO / sqm

1,100 850 to 2,300 2,250 to 3,000

1,300 2,200 to 3,440 2,600 to 3,600
0 0 to 0 730 to 1,610
0 0 to 0 2,790 to 5,610

1,200 1,800 to 3,000 1,230 to 1,650

1,560 2,900 to 4,620 1,500 to 2,200
1,420 1,220 to 1,800 1,220 to 1,450
1,730 1,450 to 2,300 1,270 to 1,600

1,200 1,800 to 2,600 2,250 to 3,600

1,500 1,800 to 2,900 2,300 to 4,400
2,030 2,200 to 3,400 3,500 to 6,820

1,000 0 to 400 800 to 1,300

2,000 0 to 400 800 to 1,300

1,270 260 to 570 800 to 1,690

1,960 0 to 0 1,160 to 2,210
1,370 1,600 to 2,330 1,490 to 3,300
1,570 1,140 to 3,130 1,990 to 3,650
1,030 960 to 2,210 1,680 to 2,650
2,100 1,250 to 2,800 2,500 to 3,730
ELEMENTAL COST
ELEMENTAL COST BASED ON 4TH QUARTER 2018 CONSTRUCTION COST

VERTICAL DEVELOPMENT
10%
TOTAL COST PER AREA PROFESSIONAL SERVICE
BUILDING TYPE
PESO / sqm PESO
DOMESTIC
Apartments (High rise, average standard) 56,753 to 69,600 4,870
Apartments (high rise, high end) 73,273 to 124,074 3,285
Terraced Houses, average standard 44,497 to 54,297 1,979
Detached Houses, (High end) 95,046 to 161,095 4,236

OFFICE / COMMERCIAL
Medium / High rise offices (Average standard) 56,262 to 65,716 4,846
High rise offices (Prestige quality) 76,334 to 84,894 6,569
Out-of-town shopping centre (Average standard) 42,418 to 56,996 3,659
Retail malls (High end) 66,121 to 92,404 5,678

HOTELS
Budget Hotels (3 star, mid market) 72,190 to 80,237 6,210
Business Hotels (4 to 5 Star) 81,391 to 98,259 6,998
Luxury Hotels (5 Star) 112,087 to 154,624 9,618

INDUSTRIAL
Industrial Units (Shell only, conventional single storey fr 29,371 to 35,853 2,519
Owner operated factories, low rise, light weight industry 28,481 to 39,269 2,444

OTHERS
Underground/basement car parks (<3 levels) 29,253 to 36,567 2,565
Multi storey car parks, above ground (<4 levels) 28,734 to 40,347 2,467
Schools (Primary and Secondary) 42,274 to 57,774 3,642
Students' residences 44,790 to 57,115 3,853
Sports club, multi purpose leisure centres (dry sports) 72,066 to 104,755 6,160
General Hospitals (Public Sector) 77,735 to 92,907 6,687

HORIZONTAL DEVELOPMENT
 10% 5% 5% 3% 3%
PROFESSIONAL SERVICES SITE ADAPT LANDSCAPING BUILDING STRUCTURE
/ sqm PESO / sqm PESO / sqm PESO / sqm

to 5,988 1,990 to 2,333 1,194 to 1,400 39,790 to 46,650

to 5,558 2,676 to 4,604 1,606 to 2,762 53,526 to 92,080
to 2,420 1,841 to 2,179 1,104 to 1,307 36,813 to 43,581
to 7,184 3,801 to 6,390 2,281 to 3,834 76,027 to 127,806

to 5,675 1,849 to 2,060 1,109 to 1,236 36,978 to 41,196

to 7,332 2,547 to 2,651 1,528 to 1,590 50,940 to 53,011
to 4,931 1,356 to 1,722 813 to 1,033 27,110 to 34,440
to 7,956 2,292 to 3,055 1,375 to 1,833 45,846 to 61,091

to 6,923 2,427 to 2,552 1,456 to 1,531 48,547 to 51,031

to 8,479 2,761 to 3,119 1,657 to 1,872 55,225 to 62,389
to 13,315 3,928 to 5,101 2,357 to 3,061 78,554 to 102,027

to 3,091 1,039 to 1,160 624 to 696 20,789 to 23,206

to 3,387 1,002 to 1,258 601 to 755 20,035 to 25,169

to 3,219 1,039 to 1,160 0 to 0 20,789 to 23,208

to 3,485 1,002 to 1,258 601 to 755 20,035 to 25,169
to 5,021 1,384 to 1,587 830 to 952 27,678 to 31,734
to 4,943 1,505 to 1,717 903 to 1,030 30,099 to 34,336
to 8,963 2,689 to 3,855 1,613 to 2,313 53,783 to 77,095
to 8,036 2,609 to 2,821 1,565 to 1,693 52,183 to 56,427
MECH & ELECT SERVICES ELECTRICAL MECHANICAL FIRE PROTECTION
PESO / sqm PESO / sqm PESO / sqm PESO /

8,910 to 13,230 3,600 to 4,300 1,360 to 2,530 850 to

12,180 to 19,070 3,900 to 6,300 2,530 to 4,430 950 to
2,760 to 4,810 1,400 to 1,800 630 to 1,400 0 to
8,700 to 15,880 3,000 to 5,800 2,910 to 4,470 0 to

11,480 to 15,550 3,500 to 4,700 4,000 to 5,000 950 to

14,750 to 20,310 4,800 to 6,000 4,500 to 5,930 1,050 to
9,480 to 14,870 3,060 to 5,100 2,890 to 5,100 1,090 to
10,930 to 18,470 3,600 to 6,000 3,310 to 6,840 1,300 to

13,550 to 18,200 4,900 to 5,800 3,500 to 5,000 1,100 to

14,750 to 22,400 5,200 to 7,500 4,250 to 6,100 1,200 to
17,630 to 31,120 5,500 to 9,200 4,950 to 9,670 1,480 to

4,400 to 7,700 2,000 to 3,500 800 to 1,500 800 to

4,400 to 8,700 2,000 to 3,500 800 to 1,500 800 to

4,860 to 8,980 2,000 to 3,500 900 to 1,950 900 to

4,630 to 9,680 1,800 to 3,300 650 to 2,210 1,020 to
8,740 to 18,480 3,300 to 4,900 1,450 to 6,580 900 to
8,430 to 15,090 3,600 to 4,300 850 to 2,440 850 to
7,820 to 12,530 2,900 to 3,770 1,800 to 2,870 480 to
14,690 to 23,930 5,000 to 8,000 4,700 to 7,300 1,240 to
FIRE PROTECTION LIFTS / ESCALATOR PLUMBING
sqm PESO / sqm PESO / sqm

1,100 850 to 2,300 2,250 to 3,000

1,300 2,200 to 3,440 2,600 to 3,600
0 0 to 0 730 to 1,610
0 0 to 0 2,790 to 5,610

1,200 1,800 to 3,000 1,230 to 1,650

1,560 2,900 to 4,620 1,500 to 2,200
1,420 1,220 to 1,800 1,220 to 1,450
1,730 1,450 to 2,300 1,270 to 1,600

1,200 1,800 to 2,600 2,250 to 3,600

1,500 1,800 to 2,900 2,300 to 4,400
2,030 2,200 to 3,400 3,500 to 6,820

1,000 0 to 400 800 to 1,300

2,000 0 to 400 800 to 1,300

1,270 260 to 570 800 to 1,690

1,960 0 to 0 1,160 to 2,210
1,370 1,600 to 2,330 1,490 to 3,300
1,570 1,140 to 3,130 1,990 to 3,650
1,030 960 to 2,210 1,680 to 2,650
2,100 1,250 to 2,800 2,500 to 3,730