Cavite industrial park redefines community idea
With numerous multinational businesses seriously considering the country as an investment destination, one developer decided to rewrite the concept of industrial park—one that goes beyond setting up office spaces or industrial buildings accredited by the Philippine Economic Zone Authority (Peza).
Lawyer Harrison Paltongan, Suntrust Properties president, says: “Considering the pioneering philosophy of our parent company Megaword, Suntrust Properties decided to go beyond masterplanning a run-of-the-mill industrial estate. Applying the ‘live-work-play-learn-shop’ lifestyle concept that our parent company popularized, the 350-hectare Suntrust Ecotown Tanza in Cavite province sets the benchmark for a self-contained mixed-use industrial, commercial and residential complex that will cater primarily to export-oriented industries while at the same time, will incorporate residential, commercial and institutional components.’’
From the initial 111 hectares already registered with the Peza, Suntrust Ecotown Tanza is now offering 107 industrial lots suited for light to medium export-oriented industries such as electronics, home appliances, computer parts, car components, fabric and textile goods, food products, pharmaceuticals, machinery and chemicals.
Paltongan says that 24 percent of these lots have already been sold to 35 locators, a number of them coming from the nearby Cavite ecozone. He added that these locators wanted to expand operations but the Cavite ecozone has no physical space to accommodate such need for additional space.
According to Paltongan, this is just a reflection of the investor’s trust in the country. He says: “Between 2008 and 2012, GDP grew by an average of 4.7 percent, rising to 7.2 percent in 2013, which is higher than China despite being hit by a powerful typhoon. Moreover, World Bank forecasts growth of nearly 7 percent both this year and next. And in May S&P, a rating agency, raised the mood further by increasing the country’s long-term credit rating to BBB, two notches above the investment-grade baseline.”
Paltongan says: “Once completed, the Suntrust Ecotown Tanza will accommodate not only eco-friendly and modern-looking warehouses but also beautiful yet affordable homes for the locator’s executives and their families, generous open spaces and nature areas, a driving range, shopping mall, hotel, restaurants, schools and even a chapel. Indeed, Suntrust Ecotown Tanza is envisioned as another ‘live-work-play-learn-shop’ community similar to the pioneering township projects like the Eastwood City in Libis, Quezon City; Resorts World in Parañaque City; and the McKinley Town Center and Forbes Town Center that are both located in Bonifacio Global City, Taguig.”
Locators will appreciate that Suntrust Ecotown Tanza will offer income tax holidays (from four years to a maximum of eight years); exemption from national and local taxes after the lapse of the income tax holiday (in lieu thereof, special 5-percent tax rate on gross income); duty-free importation of capital equipment, spare parts, materials and supplies; exemption from wharfage dues, export tax impost or fees; tax credit on domestic capital equipment; additional deduction for training expenses (labor and management); and additional deduction for labor expense (50 percent of wages corresponding to increment in number of direct labor, subject to certain conditions).
Other benefits are permanent resident status for foreign investors and immediate members of their families; employment of foreign nationals; exemption from SGS inspection; electronic import permit system; simplified import-export procedures (a Peza and a Customs office are already set up within the development); no red tape (and only red-carpet treatment; one-stop shop facilities for the locator’s business requirements); and nonstop as well as round-the-clock world-class service.
Paltongan believes that Suntrust Ecotown Tanza’s location in Barangay Sahud-Ulan in Cavite is strategic considering its proximity to the Ninoy Aquino International Airport and seaports (Manila and Batangas), as well as central business districts such as Makati CBD, Ortigas Center and Bonifacio Global City. Considering its accessibility to main thoroughfares such as the Manila-Cavite Toll Expressway, Governor’s Drive, South Luzon Expressway and Southern Tagalog Arterial Road, Suntrust Ecotown Tanza should serve as a perfect location for the locator’s executives that require mobility.
Palrongan says: “Suntrust Ecotown Tanza’s 24/7 setting is supported by round-the-clock security, a fire station as well as transport service for the locator’s employees. There will also be dedicated parking bays for container trucks. Moreover, to give tenant-locators the utmost convenience, we have conceived a wide array of recreational amenities that will make living at Suntrust Ecotown Tanza even more vibrant.”
He says that aside from a driving range, a mini golf course and putting greens, there will also be a swimming pool, a jogging path, basketball court, a covered badminton court, as well as parks for one to meditate or just unwind.
According to Paltongan, the locator’s executives will even be provided access to the nearby Sherwood Hills Golf and Country Club—Graded 85 by the Rolex World’s Top 1000 Golf Courses in 2011-2012—which Sunburst Properties also manages.
Paltongan assures locators. “What is more interesting is the fact that Suntrust Ecotown Tanza, being an eco-friendly development, prioritizes the effective use of land, sustainable use of renewable resources and proper management of the environment. In fact, Suntrust Ecotown Tanza boasts of a central sewage treatment facility that will process whatever is already processed within the individual buildings of the locators. This means whatever sewage that will come out of this property will not be harmful to the environment.”
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