WHAT IS THE CO-DEVELOPMENT CONCEPT

• A cooperative (COOP) approach
• Proven concept in the United States and Europe
• Clients become co-developers instead of buyers
• Clients become investors in the corporation that will develop the project
• Units are VAT, documentary stamps and transfer taxes free. This equates to 12% savings vs. any other condominium in the country.
• Funds go into a collective depository and disbursing account for better financial management

A BALIKBAYAN'S GUIDE TO BUYING REAL ESTATE IN THE PHILIPPINES

Filipinos away from home who want to invest their money in real estate would do well in familiarizing themselves with the laws that govern land acquisition in the Philippines as stated in the Constitution. There is no better way to secure a brighter future than to have a place of your own here at home.

Here are some facts that you will need to know before you proceed with any transaction and buy your dream residence in the Philippines :

• Only Filipino citizens and corporations and associations at least 60% of whose capital is owned by Filipinos may acquire private lands.
• Foreigners and balikbayans may purchase condominiums provided the distribution of ownership of the whole project is maintained at 60% Filipino and 40% Foreigner
• Children born to a Filipino parent, whether legitimate or illegitimate, may inherit the property of the Filipino parent, even if the child is not a Filipino citizen.

HOW TO AVAIL OF A UNIT VIA THE CO-DEVELOPMENT CONCEPT:

For Clients based in the Philippines:

1. Your servicing Solicitations Manager shall assist you in project viewing, selection, and closing of Unit, collection and documentation of purchase, and after-sales requirements.
2. Once you have chosen a Unit, a Pro-forma covering Unit details, Total Contribution Cost for the specific unit, and Contribution Terms shall be prepared by your Solicitations Manager. This Pro-forma, in triplicate, shall then be sent to you for confirmation together with a Co-Developer's Information Sheet for your completion.
3. Upon signing the Pro-forma, kindly retain a copy for your file and return the remaining two (2) copies to us together with a P 50,000 check payable to MERIDIEN EAST REALTY & DEVELOPMENT CORP. as initial reservation contribution and the completed Co-Developer's Information Sheet. (For provincial clients, all documents must be sent to us via courier service (Aboitiz, FEDEX, UPS, DHL)
4. Once we receive your signed Pro-forma, completed Co-Developer's Information Sheet and Reservation fee, the Unit shall be reserved under your name. We shall then send you a Reservation Commitment for your signature together with the Acknowledgement Receipt for your signature.
5. Upon signing the Reservation Commitment, please return the same to us for our Officers to sign and for notarization, together with your complete post-dated checks to cover your monthly contributions. Once this is done, we shall send you a copy of said document and an Acknowledgement Receipt.
6. Upon full completion of the Initial Contribution and submission of complete post-dated checks, a Construction Management and Coordination Contract shall be prepared and sent to you for your signature. Upon signing, please return all copies to us for us to sign and notarize. We shall send you a copy as soon as this is notarized.

For Clients based abroad:

1. Your servicing Solicitations Manager shall assist you in project viewing, selection, and closing of Unit, collection and documentation of purchase, and after-sales requirements.
2. Once you have chosen a Unit, a Pro-forma covering Unit details, Total Contribution Cost for the specific unit, and Contribution Terms shall be prepared by your Solicitations Manager. This Pro-forma, in triplicate, shall then be sent to you for confirmation together with a Co-Developer's Information Sheet for your completion.
3. Upon signing the Pro-forma, kindly retain a copy for your file and return the remaining two (2) copies to us together with a P 50,000 check payable to CENTURY PROPERTIES, INC. as initial reservation contribution and the completed Co-Developer's Information Sheet. (For provincial clients, all documents must be sent to us via courier service (FEDEX, UPS, DHL)
4. Once we receive your signed Pro-forma, completed Co-Developer's Information Sheet and Reservation fee, the Unit shall be reserved under your name. We shall then send you a Reservation Commitment for your signature together with the Acknowledgement Receipt for your signature.
5. Upon signing the Reservation Commitment, please return the same to us for our Officers to sign and for notarization. Using the schedule of payments stipulated in the Reservation Commitment, you may now remit your monthly amortizations as per the guidelines on bank remittances. (Please refer to instructions below for procedures on bank remittances.) We would appreciate receiving an email from you regarding details of each remittance for proper booking of payments.
6. Upon full completion of the Initial Contribution and submission of complete post-dated checks, a Construction Management and Coordination Contract shall be prepared and sent to you for your signature. Upon signing, please return all copies to us for us to sign and notarize. We shall send you a copy as soon as this is notarized.

Additional information for bank remittances:

• Monthly dollar payments should be remitted to our accredited banks, which shall then be converted to pesos at the exchange rate of the day the amounts are received by the bank.
• The amount credited towards the purchase of the unit shall be the net amount received by our company, after bank charges for remittances.
• To make sure that Century receives the proper amount, pls add $5.50 for Philippine telegraphic transfer charges and any other amount that your bank may charge you (ranges from $5-$15 depending on your bank).
• Kindly send us a confirmation receipt once bank transfers monies already, so that we may monitor the incoming transfer. You can fax us the confirmation receipt at 632-811-5588.
• Should there are any differences in the dollar-peso exchange rate, any over or under payment will be reconciled at the last payment (for example, month 60 in the case of Soho Central).

OPTION 3 : If you are unable to utilize any of the above options, the option of last resort will be to use other Fund Couriers like PNB Remittance Centers, OFW Remittance Services, LBC Mundial Corp., Rapid Remittance Services, Samba Speed Cash and Phil . Remittance Ltd. When utilizing courier services, please follow the instructions below:

1. Send payment direct (door-to-door) to the following address:
   
   Century Communities Corporation
   21/F Pacific Star Bldg, Sen. Gil Puyat Avenue,
   Makati City , Philippines
   Attention: MR. LITO GAMBOA
   
2. Quote your name as Sender
3. Get a written proof of remittance from fund courier and fax it to us
4. If using courier services above, fund transfers should be made on a door-to-door basis to the address above, NOT to our bank accounts. Banks do not notify us of the sender's details if monies are sent via courier. If funds are sent to our bank accounts using the above courier services, there is a strong chance that your payments will go unidentified for several weeks. If payments are unidentified, then your unit will not be credited for the amount you sent.

OPTION 1 : Use official bank-to-bank wire transfer methods. Please follow the steps below:

1) Go to your local bank
2) Apply for a telegraphic fund transfer to be sent to any one of our banks below
3) Pay the amount to be transferred plus bank charges
4) Get a copy of the duly accomplished fund transfer form from the bank
5) Send a copy of this telegraphic transfer form to Century Communities Corp. via fax or an e-mail scanned copy
6) Advise CCC agent/coordinator of the remittance made


Accredited Banks:

Additional information for bank remittances:

• Monthly dollar payments should be remitted to our accredited banks, which shall then be converted to pesos at the exchange rate of the day the amounts are received by the bank.
• The amount credited towards the purchase of the unit shall be the net amount received by our company, after bank charges for remittances.
• To make sure that Century receives the proper amount, pls add $5.50 for Philippine telegraphic transfer charges and any other amount that your bank may charge you (ranges from $5-$15 depending on your bank).
• Kindly send us a confirmation receipt once bank transfers monies already, so that we may monitor the incoming transfer. You can fax us the confirmation receipt at 632-811-5588.
• Should there are any differences in the dollar-peso exchange rate, any over or under payment will be reconciled at the last payment (for example, month 60 in the case of Soho Central).

OPTION 2 : If you are unable to utilize any of the above options, the option of last resort will be to use other Fund Couriers like PNB Remittance Centers, OFW Remittance Services, LBC Mundial Corp., Rapid Remittance Services, Samba Speed Cash and Phil . Remittance Ltd. When utilizing courier services, please follow the instructions below:

1. Send payment direct (door-to-door) to the following address:
   
   Century Communities Corporation
   21/F Pacific Star Bldg, Sen. Gil Puyat Avenue,
   Makati City , Philippines
   Attention: MR. LITO GAMBOA
   
2. Quote your name as Sender
3. Get a written proof of remittance from fund courier and fax it to us
4. If using courier services above, fund transfers should be made on a door-to-door basis to the address above, NOT to our bank accounts. Banks do not notify us of the sender's details if monies are sent via courier. If funds are sent to our bank accounts using the above courier services, there is a strong chance that your payments will go unidentified for several weeks. If payments are unidentified, then your unit will not be credited for the amount you sent.