Canadian firm deems RP good source for capitalists

Canadian firm Edgeworth Properties Inc. (EPI) has considered the Philippines, specifically Cebu as a fertile ground of capitalists who may want to invest in the oil-rich province of Alberta, Canada.

"There is a tremendous potential to attract investors from Cebu, and in the Philippines in general," said EPI president and chief financial officer (CFO) C. Vaughan Minor.

The company has set up its Philippine headquarters in Cebu at the FGU Building at the Cebu Business Park.

EPI, a holding company engaged in the purchase, development and sale of real estate across the Western Hemisphere, with particular focus on the oil-rich provinces in Canada, like Alberta.

EPI in coordination with the government of Alberta came up with "unique" investment offers to non-Canadian investors to own a property in Canada, through EPI.

The company sources, evaluates and purchases undeveloped land, particularly high growth markets like those found in the Fort McMurray and Edmonton, in Alberta province, Minor said in an interview during the company's formal launching in Cebu.

These properties, Minor said are especially attractive for investments because of the vibrant Canadian economy and the abundance of natural resources in the area.

The investors he said will be given a land title from the government of Alberta, upon purchasing a raw land through EPI.

According to Minor, this unique investment platform allowing foreigners to own properties in Canada, through EPI, is developed by the Alberta government to allow farmers to disperse their lands, and to be developed by investors.

Currently, the company has 758 acres in contract. This will be sold by investors all over the globe, including the Filipinos, while EPI is continuously contracting properties in Alberta, to be marketed to foreign buyers.

Canada is one of the largest economies in the world, Alberta province on the other hand, is one of the most vibrant and competitive economies in the world due to its ample natural resources, such as oil.

Alberta's energy reserves, in particular the oil sands deposit is the largest in the world, fueling a thriving oil and gas industry that ensures continued growth for the province.

He reiterated that Cebu was chosen as a source of potential investors, as it is known as the Philippines' economic powerhouse.

Vincent H. Lee vice president for international marketing said Cebu is known for its progressive entrepreneurial outlook and is the melting pot of the country's most enterprising individuals, thus the company is confident to grow its business here significantly in the next 12 months.

Moreover, EPI is also targeting returning Overseas Filipino Workers (OFWs) who are also on the lookout for good investment opportunities.

Minor said one Cebuano already reserved for a purchase of one-and-a-half acres of land in Alberta that would cost the investor an average of $39,000 (Canadian dollar).

The company presented its unique investment opportunity to the Cebu business community recently at the Marco Polo Hotel.