THE memorandum of agreement will see Omnicor Industrial Estate & Realty Center, Inc., a subsidiary of Filipino publicly listed company AbaCore Capital Holdings, contributing land by the bay of Batangas for SFIO to develop into a resort-like condotel property. The announcement of the project has been made official by offering further details to the public.
In a recent announcement, SFIO revealed that they signed last October a memorandum of understanding with Omnicor Industrial Estate & Realty Center, Inc. to pursue a joint venture that would see a two-hectare, bayside property in Batangas, Philippines developed into a $100 million eco-friendly, tech village.
SFIO said that the planned development, which is strategically located in Montemaria, Batangas City, just south of Metro Manila, will service residents looking for a new kind of work-life balance, with it being at the crossroads of breathtaking marine biodiversity, historical religious sites, and a suite of modern amenities fit for a better normal.
Asset management company SFIO, recently named one of the “20 Promising Companies Everyone Should Know in 2021” by Global Business Leaders Magazine, will be developing the 500-unit tech village as part of a 10-year development plan with Omnicor’s parent company, AbaCore Capital Holdings, Inc. This agreement establishes SFIO as the preferred developer of projects across AbaCore Capital Holdings’ over 200-hectares of real estate around Montemaria.
As part of SFIO’s investment roadmap into future-oriented industries, this tech village blends residential luxuries with the hyper-connected amenities necessary for modern work. Ground floor office and retail spaces give way to resort-like recreational facilities and residential units, making it an ideal space for high-value firms and professionals to embrace remote work.
Just a few miles from the Verde Island Passage, one of the most biologically diverse water ecosystems in the world, the tech village project will embrace eco-friendly development practices, such as solar roofing. An environmental compliance certificate has already been issued over the site, allowing immediate commencement of preliminary survey and design.
The project also aims to cater to religious pilgrims looking to visit the Mother of All Asia Tower of Peace, a 316-foot tall statue of the Virgin Mary. Taller than New York’s Statue of Liberty, and nearly three times taller than Rio De Janeiro’s Christ the Redeemer, this is the world’s tallest statue dedicated to the Virgin Mary.
Intended for longer-term residents, the tech village will be designed as a timeshare concept, catering not only to working professionals and tourists but also to expatriates and Filipinos from around the world looking for a vibrant community to spend a short vacation or their retirement years in.
While SFIO and AbaCore Capital Holdings see this project as the first of many that will thrive in the coming post-pandemic economic boom, both companies see health and wellness as a continuing priority across all their future projects.
Work is already underway at SFIO’s recently established Technology and Software Development Division on a suite of state-of-the-art, smart-building technologies designed to ensure the long-term, holistic well-being of communities. Set to be piloted in Montemaria, these technologies are expected to set a new gold-standard for community health systems across resorts and residential developments.
SFIO, which has just filed their Q3 financial reports in line with their broader plans to uplist onto the Nasdaq Exchange, aims to complete this development project by 2024. Permits to commence pre-selling of units are already pending approval.