$678,481,000,000

This is the first of a series of projects planned over the medium term to deliver over two million housing units across the Philippines, with a further 10 million over the longer term. The project principals are a highly seasoned leadership team working closely across a number of Philippines government entities. The client seeks a collaborative investor who will work with them on this first project to develop a financing template for all future developments. This will be an equity-based transaction with the finished units being sold to the Philippines government entity off-taker and profits 'flipped' into subsequent developments. Thus only three years post-stabilisation EBITDA is shown on this Elevator Pitch. The off-taker is the Philippines government (S&P BBB+ long-term/A2 short-term). There is already a list of buyers for all these dwellings, available to the investor, with mortgage financing provided by a mutual fund operated by a Philippines government entity. The Philippines government is preparing a sovereign guarantee for investors. These housing projects will have a substantial and beneficial impact across the Philippines.