Lancaster Suites Manila Announce Launch Date for Condotel Operations
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Lancaster Suites Manila Announces Launch of Condotel Operations
Lancaster Suites Manila Sets Launch Date for Condotel
Summary:
Lancaster Suites Manila, a prestigious condotel investment by Pacific Concord Properties Inc., is set to welcome guests for both short and long-term stays. Managed by Lancaster Hotels, Land and Properties, Inc. (LHLPI), the rental operations will begin with a soft launch in December 2007.
Condotel Investments in the Philippines: Lancaster Suites Manila
Beth Collingz, International Marketing Director of PLC Global, an online sales and marketing company, recently shared exciting news about Lancaster Suites Manila. Under the management of Pacific Concord Properties, Inc., the Lancaster Brand of Condotels in the Philippines will commence rental operations of Lancaster Suites Manila Tower I in December 2007.
Prime Location
"Property is all about LOCATION," emphasized Collingz. Lancaster Suites is strategically situated along Shaw Boulevard, Metro Manila, just 200 meters from the EDSA-Shaw Boulevard Light Rail Transit Station and near the Ortigas Center business district. This location offers easy access to essential urban amenities including schools, hospitals, banks, restaurants, shopping malls, and leisure facilities.
Just a short five-minute distance from major landmarks like SM Mega Mall, Shangri-La Mall, and the Asian Development Bank, Lancaster Suites provides unmatched convenience for guests. This prime location is ideal for business travelers and tourists alike, making Lancaster Suites a preferred accommodation choice. Clients can invest in condotel suites or rent them on a weekly, monthly, or yearly basis.
Special Launch Offers
For the soft launch, LHLPI will offer special promotional room rates tailored for budget and business travelers, along with discounted rates for long-term leases, according to Collingz.
Potential buyers can still purchase Executive Studio and One-Bedroom Suites at pre-operational prices. These suites will be ready for occupancy from December 2007.
Features and Financing
Lancaster Suites units come with kitchen facilities. The standard pricing covers semi-finished suites with interior finishings like tiled, semi-fitted bathrooms, and bedrooms with simulated wood plank flooring. An optional interior fit-out package, including furniture and appliances, will be available closer to completion. Monthly maintenance fees are approximately 80 pesos per square meter.
Opting for flexible financing, buyers can get up to 15-year mortgages for Lancaster Suites Tower I units with at least 30% equity. Banco De Oro (BDO), a well-known bank in Metro Manila, has approved mortgage plans for Condotel units, making it the first to offer Philippine Mortgages to foreign nationals residing overseas.
Investment Opportunities
Executive Studio Suites require a reservation fee of -Pph- 25,000. A 30% down payment of -Pph- 659,583.34 is due within 30 days, with the remaining balance payable over 12 interest-free monthly installments of -Pph- 128,252.32. A complete "Fit-Out" package is available for those enrolling units in the Condo Hotel Rental Pool, starting from -Pph- 403,715.00.
Metro Manila continues to attract international buyers and investors due to its year-round appeal and robust rental market. Flights from London to Manila are approximately 16 hours, with numerous airline specials enhancing its accessibility.
Professional property management and rental services make property ownership and rental straightforward. Pacific Concord Properties Inc., with its flagship Lancaster Condotel developments, is perfectly positioned to serve international buyers.
Lancaster Suites Manila is poised to become a key player in the Philippines' condotel market, offering high-quality accommodations in a prime location with attractive investment opportunities.
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