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Friday, August 18, 2006
Canadian co. eyes investors in Cebu
A Canadian company is inviting Cebuanos to invest in property development in Canada, particularly in the province of Alberta.
Edgeworth Properties Inc. (EPI) is establishing an office in Cebu to attract investors in its real estate property in Alberta, Canada.
EPI president and chief executive officer C. Vaughn Minor said there is a “tremendous (number of) potential investors” not just in Cebu, but in the entire country.
Vincent Lee, EPI vice president for international marketing, said the growth of networking in Cebu Province and the “spirit of the Cebuano people” are among the company’s reasons for setting up an office here.
Raw land
The company also has offices in Malaysia and Singapore.
EPI, the holding company of Edgeworth Ventures Inc., engages in the purchase of Canadian raw land and subdividing the properties into “marketable parcels.” Its properties are marketed throughout Asia.
EPI division manager Kelvin Lemishka said the company develops the land for investors, who can just “sit back and relax.”
Minor assured that upon purchase of the land, an investor gets a deed and a registered title.
He said the “unique concept” is a “win-win” situation since foreign investors get a title of the land and an opportunity to generate income.
Minor said EPI is also targeting overseas Filipino workers as prospective shareholders.
EPI is currently focusing its development opportunities in Alberta, Canada, where there are reportedly large energy reserves.
Minor said the area has “the largest in the world” in oil sand deposits, containing 1.7 trillion barrels of bitumen—a heavy black oil that can be converted into crude before being used by refineries to produce gasoline and diesel fuels.
Lee is optimistic the business will grow “very strongly” in the next 12 months. (MMM)
For Bisaya stories from Cebu. Click here. (August 18, 2006 issue)
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