Wolf Equity Partners · Site Study · August 2026
Sta. Elena, Iligan City
960 homes on two hectares
A 20,000 sqm hillside on the residential edge of Iligan City, held by the sponsor, for Expanded 4PH. Eight six-storey buildings on platforms cut to follow the contour.
The site
Two hectares beside Scions Subdivision, on the residential edge of Iligan City, 500 m from the C3 national highway and the barangay hall. Power and water are available at the boundary and public transport serves the road.
The land falls 22 metres to the south-west at a mean gradient of 18.8%, deviating only ±2.2 m from a uniform plane. That slope is the defining fact of the project — it dictates the scheme, and it may also decide the entitlement route.
| Location | Brgy. Sta. Elena, Iligan City, Lanao del Norte |
|---|---|
| Certificate | TCT 155-2018000635 Lot 1684-B |
| Area | 20,000 sqm 2.00 hectares |
| Gradient | 18.8% 22 m fall, south-west |
| Present use | Agricultural |
| Tenure | Owned outright, no encumbrance, not agrarian reform land |
Indicative platform arrangement based on public elevation data; cut, fill, retaining and finished levels are subject to topographic and geotechnical survey.
The slope may exempt the land from CARP
If the exemption holds, the project does not need a conversion order at all. An application under DAR Administrative Order 13 s. 1990 yields a Certificate of Exemption, and per DAR Opinion 59-97 no further DAR clearance is required.
That removes the longest and least predictable item from the entitlement programme.
| Test 1 | Slope of 18% or over modelled at 18.8% — survey governs |
|---|---|
| Test 2 | Undeveloped for agriculture as of 15 June 1988 |
| Test 3 | Untenanted |
| Route if met | DAR AO 13 s. 1990 — Certificate of Exemption |
| Route if not | Conversion via the DAR Mass Housing Desk, on DHSUD endorsement |
The margin is 0.8 percentage points, and the figure is modelled from 30 m public elevation data. A licensed topographic survey could place the parcel on either side of the threshold. The surveyor should be instructed to certify average slope for CARP purposes under Section 10, not merely to produce contours.
The exemption rests on soil conservation under the Forestry Code. The scheme answers that directly: platforms following the contour disturb a fraction of the site, with planted embankments rather than continuous retaining and full stormwater detention at the toe.
The scheme
Eight buildings of 60 by 12 metres on stepped platforms following the contour. Six storeys, 20 units to a floor, 120 units per building — 960 homes of 27 sqm with two bedrooms, one toilet and bath, combined living, dining and kitchen, and a balcony.
| Buildings | 8 60 m × 12 m footprint |
|---|---|
| Storeys | 6 |
| Units | 20 per floor · 120 per building · 960 total |
| Unit | 27 sqm · 2 bedrooms · 1 T&B · balcony |
| Footprint | 5,760 sqm 28.8% site coverage |
| Platforms | 8 levels, 67.5 m down to 52.5 m |
| Excavation | 2,895 m³ max 0.67 m cut on any platform |
Character studies are indicative and were produced at four storeys; the reference scheme is six. Massing, building count and storey height are for the development partner's engineer to optimise.
Earthworks: platforms, not benching
Each building sits on its own platform set to the mean ground level beneath it, so cut and fill balance on site and no material is hauled away. Levelling the whole site into terraces would move roughly ten times the volume and require continuous retaining structures.
Volumes are modelled and exclude roads, drainage, foundations and inter-tier retaining. They show the order of the difference, which is large enough that survey-grade figures are unlikely to reverse it.
Water, drainage and sanitation
The site falls 22 metres to a single low point at the south-west boundary. Stormwater, wastewater and harvested rainwater are handled as one system, conveyed by gravity to treatment and detention works at that point. No pumping is required.
Rainwater harvesting
5,760 sqm of roof at 2,875 mm annual rainfall yields about 14,076 m³ a year for flushing, laundry and cleaning.
Gravity conveyance
Every platform sits above the works. Storm and foul lines run downhill on natural fall, with no lift stations and no pumping in the operating budget.
Sewage treatment
On-site plant sized for 369 m³/day, the load from 960 units at four persons and 120 litres per person per day.
Stormwater control
Detention at the low point discharges at a controlled rate, so post-development runoff does not exceed pre-development flows downstream.
Rainfall is the 2015–2024 mean for the site coordinates, 2,875 mm, with a one-year daily maximum of 79 mm. Sizing is to be confirmed by the design engineer against DENR and city drainage standards.
What the programme leaves a partner
Selling price is fixed at ₱1,800,000 for a 27 sqm unit above five floors. Land is contributed by the sponsor against a share of units, so it is not a cash cost. Three costs are structural; what remains funds construction, soft cost, contingency and the builder's margin.
| Per unit | Amount | Of price |
|---|---|---|
| Selling price | ₱1,800,000 | 100% |
| Less: 8% of units to the sponsor | (₱144,000) | 8.0% |
| Common infrastructure | ₱90,671 | 5.0% |
| Allocation & administration 2% | ₱36,000 | 2.0% |
| Financing 6% | ₱108,000 | 6.0% |
| Available to the partner | ₱1,421,329 | 79.0% |
Break-even construction: ₱37,536/sqm of gross floor area at an 8% sponsor share. Before that allocation the project breaks even at ₱41,339/sqm.
| Partner return | Cost/unit | Margin/unit | On cost | Total |
|---|---|---|---|---|
| ₱28,000/sqm | ₱1,294,915 | ₱361,085 | 27.9% | ₱347M |
| ₱30,000/sqm | ₱1,370,647 | ₱285,353 | 20.8% | ₱274M |
| ₱32,000/sqm | ₱1,446,379 | ₱209,621 | 14.5% | ₱201M |
| ₱34,000/sqm | ₱1,522,110 | ₱133,890 | 8.8% | ₱129M |
| ₱36,000/sqm | ₱1,597,842 | ₱58,158 | 3.6% | ₱56M |
Reading the table. Margin per unit is stated after the sponsor's allocation, so effective revenue is ₱1,656,000 per constructed unit. Totals are that margin across all 960 constructed units, not across the partner's allocated units, which would deduct the sponsor's share twice.
The sponsor's share is a fixed number of units and does not move with construction cost. Every peso saved in building is retained by the builder.
| Common infrastructure | Amount |
|---|---|
| Earthworks | ₱2,900,000 |
| Spine Roads | ₱15,000,000 |
| Stp | ₱39,846,037 |
| Detention | ₱8,000,000 |
| Power Water | ₱13,950,000 |
| Amenities | ₱7,348,469 |
| Total | ₱87,044,506 |
Site works, roads, drainage, the treatment plant, detention and reticulation are delivered before the first building is occupied. Allocation and administration is set at 2% rather than a marketing budget — units are allocated from an LGU beneficiary list and financed through Pag-IBIG, so there is no open-market selling cost. Financing at 6% assumes commercial terms; a Pag-IBIG developmental loan would improve it.
Construction cost is deliberately left open. The table shows returns across a range; the partner's own number governs.
Structure
| Terms | |
|---|---|
| Sponsor contributes | The site, plus entitlement |
| Land ascribed at | ₱3,000/sqm — ₱60,000,000 |
| Land as share of project cost | 4.6% |
| Partner funds | Site works, infrastructure and construction |
| Sponsor takes | 8% of saleable units — 77 of 960 |
| Partner takes | 92% — 883 units |
| Delivery | Pro rata as each building takes out |
| Cost overruns | Partner's account; the sponsor's share is fixed |
| Sponsor's take | ₱139M |
Land at ₱3,000 per square metre is 4.6% of total project cost. That is the floor. The balance of the 8% is for delivering a consented site — exemption or conversion, DHSUD endorsement, permits and the beneficiary listing — which puts a partner on site roughly two years sooner than starting from raw land.
No residual profit split, no audit rights and no budget approvals. The structure is designed so that once terms are agreed there is nothing further to negotiate during delivery.
Where the project stands
The land is secured and the scheme is designed. Entitlement has not begun, and several steps require an accredited developer to be named before they can be filed at all.
| Item | Detail | Status |
|---|---|---|
| Torrens title | TCT 155-2018000635, Lot 1684-B, held by the sponsor. No encumbrance. | Complete |
| Boundary survey | Plotted from registered coordinates; traced area agrees with the certificate to 0.23%. | Complete |
| Scheme design | Terrain modelled, platform levels set, unit and floor plans drawn, infrastructure costed. | Complete |
| Topographic & geotechnical survey | Governs platform levels and, critically, the CARP slope determination. | Not started |
| CARP exemption or conversion | Route depends on certified slope — see below. | Not started |
| DHSUD project endorsement | Required before Pag-IBIG developmental loan application. | Not started |
| Development permit | From Iligan City, following exemption or conversion. | Not started |
| LGU agreement | Memorandum with Iligan City on beneficiary sourcing. | Not started |
| Housing needs certification | From the LGU, evidencing demand against the local backlog. | Not started |
| Beneficiary listing | Qualified applicants registered with Pag-IBIG. | Not started |
| Developer accreditation | Attaches to the development partner, not the landowner. | Partner |
- Topographic and geotechnical survey. Sets platform levels and, critically, certifies average slope for the CARP exemption test.
- Zoning certification from the City Planning and Development Office, parcel-specific.
- CARP exemption under AO 13 if the slope certifies at 18% or over; otherwise conversion through the DAR Mass Housing Desk on DHSUD endorsement.
- DHSUD project endorsement, which also secures the exemption from the DA reclassification moratorium under DA Circular 11 s. 2026 if conversion is required.
- Development permit, LGU agreement and beneficiary listing, with the named partner.
Basis of these figures. Terrain is modelled from 30 m public elevation data at 91 points inside the boundary and will be superseded by survey. Infrastructure costs are the sponsor's planning estimates. Construction cost is left open. Gross development value is unit count at the programme ceiling under JMC 2025-001, which caps a 27 sqm unit above five floors at ₱1.8M and is reviewed at least every two years. Nothing here is an offer; terms are indicative and subject to contract.