Cheyenne, Wyoming, May 02, 2023 – McapMediaWire – AAP, Inc. (OTC: AAPJ) is pleased to announce that the company has acquired $1.6 million in real estate assets to be developed in, Makati, Metro Manila, Philippines.
The city of Makati is the financial centre of the Philippines and one of the major financial, commercial and economic hubs in Asia. It is one of the most populous metropolitan areas in the world, it has the highest concentration of multinational and local corporations in the country. Most major banks, corporations, department stores as well as foreign embassies are based in Makati.
Makati remains the richest local government unit (LGU) in the Philippines in terms of income from local sources and on a per capita basis. As of end-2012, Makati had registered over 62,000 business enterprises, which are engaged in financial services, wholesale/retail, services, real estate, export/import, and manufacturing. Makati also boasts of having the highest number of BPO (Business Process Outsourcing) offices in Metro Manila at 1,159 companies to date, as well as the highest number of PEZA-accredited IT Parks and Buildings. The city government of Makati has not increased its tax rates since its new Revenue Code took effect in 2006. The city has been free of deficit for 26 years.
Paul Bakajin, CEO, stated: “We are very excited about this opportunity for the future of the company and its shareholders. We anticipate acquiring substantially more assets in and around Metro Manila in the near future. We are 100% in control of these real estate assets, providing us with more control over the information dissemination process and allowing us to provide more news releases and updates for our shareholders. This is something we were unable to adequately do with prior business associations. We look forward to building an exciting future in real estate asset development in a dynamic emerging market like the Philippines where we can leverage the company in so many different ways, monetarily and functionally, ensuring a sound investment for us for the long-term.”
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