Friday, July 6, 2007

Location, location, location?

I've heard of interesting places to build commercial property, but this one takes the cake. The Philippine government has recently canceled a permit for a Korean developer to build a spa on the crater of the Taal volcano, which is about an hour's drive from Manila followed by a boat ride across a lake.

Now, I know this area. It is stunning. I've not been to the volcano itself, but I've been to the area, including scenic Tagaytay, and I've even thought about buying some property there, as other expats and wealthy Filipinos have. There is some beautiful Western-style developing going on in that area.

The story, from Forbes, hints that there are some interesting land title disputes and some possible inter-governmental infighting, which is often the norm in the Philippines. (For you old-time title nerds out there, the Philippines uses the Torrens system, but much of the land is unregistered, so quiet title actions are very common.)

I'll contact some of my sources in Manila about this story, and if I find out anything interesting, I'll let you know.