GUAGUA, Pampanga, 4 July 2006 — Former overseas Filipino worker Mike Bolos has begun construction of a three-story building here intended as a showcase or a model in a small scale of how overseas countrymen can be made business owners here.
Bolos told Arab News the building, when completed in about six months, is intended to house popular fast food outlets and other business and professional entities in the community.
He said when “it reaches a certain stage of stability and profitability, I will make it available for interested overseas Filipinos to buy in from a minimum of one share at P5,000 up to a maximum of ten shares at P50,000 per person.”
“The reason for the maximum number of shares one can buy is to maximize the number of overseas Filipinos who can participate and to spread out the benefits as much as possible. To make it even more palatable, a program will be made available for the purchase of any share that any investor finds a need to dispose of at any time for whatever reasons thereby making the investment as good as money in the bank that can be readily withdrawn if needed,” Bolos said.
The building, located near the town center of Guagua, is being financed via a bank loan with BPI Family Savings Bank, Inc. and can later be expanded to become five stories high.
If the venture is successful, Bolos said “our government officials can see for themselves how the same can be done with government owned or controlled corporations or assets.”
Bolos worked for the past 25 years in Riyadh as a financial analyst at GAMA Services Ltd. (a member of the FAL group of companies).
