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- Condotel Investments in the Philippines
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| Condotel Investments in the Philippines Posted: 22 Nov 2012 11:30 AM PST (PRWEB) September 23, 2006 A Condominium Hotel or Condotel combines the convenience of a residential condo with the amenities of a hotel.
Unit owners in a Condotel may opt to join the rental pool where he signs with a professional hotel management team who will convert the project into a world class hotel / serviced apartment. A serviced apartment is run just like a hotel but guests usually stay on a long term basis.
Aside from real estate appreciation, unit owners receive a steady monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because the hotel management will pool together the total income of the entire hotel and distribute this to unit owners net of any expense. This makes the investment cost efficient and practically risk free.
The Lancaster rental pool will operate on a Co-operative basis. Example: There are 50 units enrolled in the pool with a total floor area of lets say 1,500 square meters. The Hotel room operations derive a monthly rooms rental income of 3,000,000.00 pesos for the calendar month. The unit owners will receive a 60% share of the net proceeds as share of the rentals. This however will be paid as a Dividend based upon the total floor area of the rental pool. Example: Proceeds in Pesos 3,000,000.00 x 60% = 1,800,000.00 divided by the total floor area of the rental pool units [1,500 sqm] = 1,200.00 pesos per square meter which will be paid as the monthly rental dividend. Hence, if you owned a Studio Unit in the rental pool, you share of the proceeds for the month would be your floor area, example 28 square meters multiplied by the dividend of 1,200 pesos. Ergo: your rental income would be 33,600.00 pesos monthly. This is pro-rated whether you own a Studio, 2 Bedroom [Example given: 65 sqm x 1,200 = 78,000.00 pesos monthly rental income] or even a Penthouse Suite
Lancaster Suites Manila Atrium Tower II
The Current selling price Lancaster Manila Atrium Tower A Studio Units at Pesos 64,888 or $ 1,298.00 per sqm are Tax Exempt will increase to Pesos 74,888 or $ 1,498.00 per sqm Effective October 1, 2006. The One Bedroom, Two and Three Bedroom Suites are currently priced at Pesos 72,674.56 or $ 1,453.76 per sqm will also increase to Pesos 83,874.56 or $ 1,677.76 per sqm including Government Taxes [R-Vat 12%] effective October 1, 2006. Five Year No Interest Charge Terms of payment or up to 12 years In-House financing plans. Completion and Turnover of units for Tower II will be from December 2009.
Executive Studio DeLuxe Suites
New Price October 1, 2006
Lancaster Suites Manila Atrium Tower A Executive DeLuxe Studio Suites. Average Floor Area 32.96 square meters [355sqft] at $ 1,498.00/sqm. USD 49,374.08.
Current Price
Lancaster Suites Manila Atrium Tower A Executive DeLuxe Studio Suites. Average Floor Area 32.96 square meters [355sqft] at $ 1,298.00/sqm. USD 42,782.08 These units are either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati and towards Manila Bay or Swimming Pool Deck. All units within the Lancaster Suites Manila Atrium. The Current Offer for a Studio Suite provides that it may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 60 consecutive equal monthly payments of USD 704.70. Alternatively Save USD 2,536.92 by making the Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 10,147.70 and Balance payable without interest over 60 consecutive equal monthly payments of USD 493.30. Another option, Pay Cash and take a 20% discount [Save USD 8,556.41] on unit price…. Pay 90% Now [USD 30,803.09] remaining 10% [USD 3,422.57] on unit Turnover from December 2009
All Lancaster Residential Suites Unit Features Include: Vitrified ceramic tiles in living, dining areas Ceramic tiles in kitchen and toilet and bath Toilets with mechanical ventilation Plastered cement with painted finishes Provisions for window type air-conditioners
For a Copy of the Lancaster Suites Slide Show Presentation copy and paste the following URL directly into your Web Browser..
http://www.kodakgallery.com/I.jsp?c=thslvaa.507okf1e&x=0&y=gzpcua
For full details please contact:
Beth Collingz
Director – PLC International Marketing Networks
Pacific Concord Properties Inc
Lancaster Suites. 2/F JTIC Building
622 Shaw Boulevard Corner Samat St.,
Mandaluyong City. Metro Manila. Philippines 1552
Tel: [Manila 63 2] 717 1958 [Direct Line]
Fax: [Manila 63 2] 718 1828
Website: Lancaster Manila
Website: Lancaster Cebu
Website: Condotel Forum
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| Posted: 22 Nov 2012 10:52 AM PST Philippine News: A man was killed after he was run over by a ten-wheeler truck in Quezon City before dawn yesterday Philippine News and Updates |
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