International Partners Target Housing in the Philippines

In international real estate news, ""True Green Energy Group"":http://truegreenenergygroup.com/contact-us.html (TGEG) is teaming up with the president and CEO of ""Universal Resources Development Incorporated"":http://www.urdevelopment.com/ (URD) to create housing projects in the Philippines. TGEG, which is based in the country, will become partners with Paul Lu of URD in the development, in collaboration with ""CJ Consortium Group, Inc."":http://cjconsortiumgroup.com/, and its various partners.

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Texas-based URD represents the interests of numerous construction companies in nearby China, including ""CITIC Group"":www.citic.com/wps/portal/citicen, ""China State Engineering Construction Corporation"":en.wikipedia.org/wiki/China_State_Construction_Engineering_Corp, and ""China Railroad Engineering Construction Corporation"":en.wikipedia.org/wiki/China_Railway_Engineering_Corporation. Lu initiated the deal with TGEG's founder and chairman, Ronald Shane Flynn, presenting the idea for the satellite housing project and citing URD's successful infrastructure projects in China.

The three participating entities have revealed that the goal of the real estate project is to construct an estimated 500,000 eco-friendly and sustainable homes throughout the Philippines. TGEG, URD, and CJ will also strive to build satellite cities that encompass TGEG power plants in order to maneuver the economic problems in the country, due to the closure of municipal landfill areas.

Additionally, the cooperative development effort will target provision of relief for squatters by building universal lots in specific provinces so that the homeless can have access to legal housing.

TGEG's CEO, Renato Lee, III, commented on the catalyst behind the major undertaking, saying, ""Housing problems in the Philippines is basically a never-ending drawback in the central point of the Philippine archipelago ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô Metro Manila Philippines. For it is where all class and types of Filipinos conglomerate into congesting situations due to Manila which is the center of commerce, and industry wherein most Filipinos are thought to gain a lot of opportunities for growth and financial success. ├âÔÇÜ├é┬áHowever, squatting is rampant throughout Manila and full of poor homeless people.""

Elaborating on plans for the project, Lee added, ""We intend to interview local Philippine banks and to select one of the most qualified to handle the low interest mortgages for the benefit of Filipino people for all the satellite housing projects in this partnership ├â┬ó├óÔÇÜ┬¼├é┬ª Conceptually, satellite cities could be self-sufficient communities outside of their larger metropolitan areas. The homes being built will be quite cosmopolitan and will present an exclusive demeanor.""

Flynn weighed in with his option on the joint venture, saying, ""This partnership and the Memorandum of agreement will consist of carrying out our vision of providing clean green energy to the country while getting rid of the garbage and building satellite cities for people living in the Philippines. The estimated investment by Paul Lu's group would be approximately $5 billion USD in order to fund the first 500,000 homes.""

Lee also stated his lofty ideal for the project with URD and CJ, stating, ""This partnership will in no doubt help the Philippines to become a first world country that could include bullet trains, railways, hydro plants, and green energy projects that TGEG will promote and deploy.""