Revenue participation in a Bataan golf resort
FAB Golf & Residence Token · FGRT
FGRT carries a contractual right to participate in revenue from the golf, residence and leisure asset package in the Freeport Area of Bataan (FAB), the Philippines.
Masterplan rendering · final built result may differ
- Jurisdiction
- Freeport Area of Bataan · FAB
- Instrument
- Security token
- Issuer
- Finora Global, Inc. (Republic of Korea)
- Current status
- Subscription not open
Masterplan
The golf course sits at the centre, with villas, the condotel and estate infrastructure arranged around it.
- Golf course
- 9 holes · 153,260m² · 27-hole expansion design · night play available
The principal draw for visitors and the basis of membership, green fee, cart and F&B revenue.
- Golf clubhouse
- 1,600m²
Reception, lockers, F&B and event operations.
- Estate infrastructure
- Parking, access road, landscaping, drainage, irrigation reservoir, management building, spa, convenience store, multipurpose hall and gym
Supports resort-length stays and operational stability.
- Boutique casino
- Small-scale premium casino combining on-site and online operation
Included in the initial investment budget. Licensing and permits are in progress with the relevant authorities and are not settled.
Duplex villas
A low-rise residential product for the higher-priced end of the pre-sale market.
- Scale
- 25 buildings · 50 units in total
- Unit area
- 142.71m²
Ground floor 66.03m² · upper floor 76.68m²
- Form
- Symmetrical duplex · private pool per unit
- Unit price
- USD 350,000
A planning figure, not a sales result.
Condotel
The condotel earns twice. Once on pre-sale, then over the long term through its share of rental income under managed operation.
- Scale
- 2 buildings · 5 storeys each · 160 rooms in total
- Mix
- 128 one-bedroom · 32 two-bedroom
- Operation
- Owner use alongside managed operation
Rental income from managed operation is shared under the operating agreement.
Offering terms
- Token
- FAB Golf & Residence Token (FGRT)
- Regulatory framework
- AFAB ODAL Policy of 2023 · Class 2 ODA Activity
Under Republic Act No. 11453, AFAB registers, regulates and supervises enterprises inside the FAB, which is administered as a separate customs territory.
- Hard cap
- USD 40,000,000
The total funding target for advancing the whole asset package to completion.
- Soft cap
- USD 15,000,000 ~ USD 20,000,000
The amount actually applied at subscription is finalised by board resolution before issuance opens.
- Issue price · total supply
- 1 FGRT = 1 USDT = USD 1.00 · 40,000,000 FGRT
- Subscription currency
- USD or the USDT stablecoin
USD is received into the escrow bank account and approved stablecoins into the dedicated custody wallet.
- Lock-up
- 6 to 12 months from the issue date
After the lock-up, transfers remain limited to whitelisted wallets on the ODAL platform, meaning wallets that have cleared KYC.
- Tax
- Distributions are gross; individual tax is not withheld
Each investor bears their own tax obligations in full.
- Committed return
- None
IRR, development profit, multiple, NOI and continuing distribution figures are illustrative assumptions and are not committed values.
The soft cap is the minimum funding level at which the project can substantively begin through the regulatory, structuring and start-up stages. It funds ODAL and issuance structuring, design, legal work and permits, early site work, initial project costs, bridge construction start-up funds and the opening of the 9-hole golf course. All amounts are in USD.
Offering structure
Subscription funds are not deposited directly into a general account of the issuer or the platform operator. USD is received into a separate subscription escrow bank account managed by PnB Group, and approved stablecoins into a dedicated custody wallet under PnB Group control.
Use of proceeds
- Project execution
- 80%
Development, design, permits, early site work, construction cost and project execution for the golf, residence and leisure asset package.
- Operating reserve
- 10%
Held as an operating reserve.
- Issuance, legal and escrow
- 10%
Issuance cost, legal cost, token issuance and token escrow.
Funds are released in stages against the pre-approved use-of-proceeds plan and its supporting documents. Recipients are limited to the construction company, the designer, permit and project suppliers, other approved payment sources, and project execution accounts under PnB Group control.
Parties
- Issuer
- Finora Global, Inc. (Republic of Korea)
STO issuer and ODAL applicant. The contracting party for every investor is always the issuer.
- Platform operation
- Finora Technology, Inc.
Supports STO platform operation, covering account opening, KYC/KYB, investor eligibility screening, electronic signature and wallet registration.
- Escrow and custody
- PnB Group (Seoul, Republic of Korea)
Controls the subscription escrow bank account and the dedicated custody wallet. On default, acts as security trustee for token holders.
Schedule
- 1 October 2026Subscription disclosure · first sale opens
- 20 October 2026Second disclosure
- 30 October 2026First sale closes
- 1 November 2026Remaining quantity opens
- 30 November 2026Final close. Closes earlier if the remaining quantity is taken up
The final soft cap amount, the issuance terms document and the opening of escrow are settled by board resolution before the opening date, and the schedule may change with that outcome.
Eligibility and refunds
Investor eligibility
The final list of permitted and excluded territories is set before issuance opens, and the laws of an investor’s country of residence may restrict subscription.
- Excluded
- US persons · Philippine residents
Philippine domestic offerings and investors in other restricted jurisdictions may be excluded from participation.
- Access control
- Philippine IP blocking · geo-fencing
- Screening
- AML/KYC/KYB screening · sanctions list checks
Applied to every investor.
- Eligibility
- Offshore qualified investors only
Jurisdiction-specific eligibility requirements apply.
- Investor responsibility
- Legal · tax · foreign exchange · source of funds
Final confirmation rests with the investor.
Disposal and refunds
A lock-up of 6 to 12 months applies from the issue date, and afterwards transfers remain limited to whitelisted wallets on the ODAL platform. There is no separate early termination or early redemption clause. After a partial repayment the holder keeps the remaining revenue-participation right. Refunds before issuance follow the table below.
- Soft cap not reached
- The offering closes without issuance.
If the soft cap set by the board within the range of USD 15,000,000 to USD 20,000,000 is not reached by the end of the issuance period, the escrow agent refunds in full to the original remitting account and no tokens are minted.
- Failed KYC after funding
- Funds are held in a suspense account and reviewed.
Where a sanctions match is found after receipt of funds, or enhanced due diligence (EDD) is not satisfied, funds are placed in a separate suspense account and the compliance department reviews the case. On refusal, refunds are issued strictly to the original account unless frozen by law enforcement.
- Sanctions hit
- Immediate freeze and report to the authorities.
Where an investor matches the OFAC or UN sanctions lists, no refund is issued without release approval from the regulatory authority.
- Technical issuance failure
- A 14-day cure period is granted.
This covers smart-contract deployment failure or another critical issuance-control event. If unresolved, the board cancels the issuance and the escrow agent refunds in full.
- Issuer cancellation
- Full refund within five business days.
Where the issuer decides to cancel before the soft cap is achieved and before funds are released, it issues a cancellation notice and the escrow agent refunds.
Contact
- info@finora.global
- Issuer
- Finora Global, Inc. (Republic of Korea)
- Product page
- View on FUNDY
Risk disclosure
- Regulatory riskODAL policy interpretation, application practice, licensing terms or the cross-border digital asset regulatory environment may change.
- Project execution riskDelays or cost overruns may arise in permitting, design, construction, supply chain and start-up schedules.
- Fund execution riskDespite the approved payment structure, the fund execution schedule may change through payment delays, insufficient documentation or contractual disputes.
- Technology and security riskSmart-contract defects, wallet security incidents, network congestion and key management failure may occur.
- Liquidity riskBecause of the lock-up and whitelist-based transfer restrictions, investors may be unable to dispose of their holdings freely at the time they choose.
- Revenue uncertaintyDistributable cash flow varies with project performance, costs, taxes, reserves and operating results, and no amount is committed.
- Legal and tax riskTax, foreign exchange, securities regulation and reporting obligations vary with each investor’s jurisdiction.
No regulator, including the Philippine Securities and Exchange Commission and AFAB, approves or guarantees the economic feasibility or investment return of this issuance. AFAB review, platform admission and related compliance procedures cannot be read as an endorsement of the commercial merits of the project or the token.
IRR, development profit, multiple, NOI and continuing distribution figures are illustrative assumptions and are not committed values. An investor may lose part or all of the amount invested, and returns, repayment, timing and project completion cannot be treated as settled.
Where a summary description differs from the contract documents, then as a general principle the token purchase agreement, the issuance terms document, the escrow and settlement agreement, the rights documents, the approving resolutions and applicable law prevail.