Nuked! Alabang Country Club follows red-hot Manila Gold lead as shares soar more than double to P23M in one year

Alabang Country Club

Golf club shares are the hottest investments ‌in the post pandemic market with prices going sky high while stocks, bonds and the local currency tank get stuck in the bunker.

A Babbler said membership in the Alabang Country Club (ACC), which has a fine Robert Trent Jones Jr-designed, 18-hole course inside Ayala Alabang Village south of Manila, has become even more elusive with its share prices rising more than threefold over the last 12 months.

Based on the October 5 auction of shares by the membership committee, three shares were sold at P18.2 million, P23 million and P23.6 million. This is exclusive of the membership and transfer fees of P550,000.

The auction results stunned the golf and investing community as ACC shares were only worth P6.5 million each in October 2021 and P10.5 million just two months ago or as of August 2022.

With 2,500 shares and a property covering 720,000 square meters, ACC has a total value of P59 billion or P82,000 per square meter.

Babbler said ACC just took its cue from the country’s most exclusive club, Manila Golf in Forbes Park Makati, which has seen its shares rocket by nearly half to P125 million last month from P80 million in September 2021.

Babbler said these club shares are not only scarce but have proven to be more resilient and stable than other traditional investments in both during and after the pandemic.

“A lot of rich families have moved to Ayala Alabang Village during the pandemic and the auction was one of the rare opportunities that they could lay their hands on an ACC share. No wonder prices are sky-high,” Babbler said.

https://bilyonaryo.com/2022/10/10/nuked-alabang-country-club-follows-red-hot-manila-gold-lead-as-shares-soar-more-than-double-in-to-p23m-in-one-year/business/