Beth Collingz, PLC International Marketing Director, lead marketing partners for Lancaster Brand of Condotels in the Philippines, said the company’s latest sale of condotel units drew not only overseas Filipinos but significant numbers of international buyers from Europe and Australia. Units in Lancaster Suites Manila are sold out whilst their latest project, Lancaster The Atrium at Shaw Boulevard, Metro Manila is 75% booked and range from studios to three-bedroom penthouse suites with full kitchens. We now have demand from our clients for new, luxury high end condotel development in Cebu Collingz said.
Owners of Lancaster condotel units can arrange to stay in their units and they share 60% of any rental income. The Lancaster Atrium together with the soon completed and upcoming operations of Lancaster Suites Manila, one of the hottest real estate investments in the Philippines, will be the hub for Lancaster condotels in the Philippines. The 42-story Lancaster Suites Manila, scheduled for operations this year, features studio, one-bedroom and two-bedroom condotel units, as well as penthouse suites. The units will be available for daily, weekly or monthly rental, Collingz said.
Collingz said a major condo hotel project is being considered by the Company with several UK Investment Trusts and local investors in Cebu, Philippines. “We’ve got so many clients requesting Luxury Condotel Suites in Cebu willing to advance payments for high end luxury condotels,” she said. “It’s a whole new era of Overseas Investments coming up — it’s not something that we’ve typically seen in the past and no one in the Philippines fully caters to this high end luxury lifestyle market. (These Investors) are all characteristically looking for a five star hotel resort, with all the features of a hotel that can be used for vacations and then rent out the units when not in use
The new and exciting luxury five-star properties or high end developments planned in Cebu Philippines, that will be sold by invitation only and will start in the $150,000 to $200,000 range for Deluxe 500sqft Studios, can go all the way up to $600,000 for 2 bedroom Penthouse suites and $800,000 for a Grand Penthouse. Of course, International gateways from Europe, South East Asian and the United States to Cebu-Mactan International Airport is within 15 minutes and, all units have sea views, beach toys and other lifestyle amenities such as spa and fine dining restaurants and will come fully fitted, furnished and finished to the highest European standards with fully fitted kitchens, fitted bedroom suites and every unit will be sold including all appliances, split type central unit air-conditioning, plasma TVs’ and state of the art communication and condotel management systems.
Units will be significantly larger in size than a typical hotel room yet still a much better value for money investment option than paying $800,000 for a studio suite in maybe Dubai or Panama or a cool million dollars for a condo in Chicago.
The planned high end Lancaster Mactan Resort Condotels will be near the new Cebu Convention Center and Cebu International Airport which is key, to good year-round occupancy numbers, she said. The square footage can range from 700 square feet to 1,800 square feet for one and two bedroom suites or more than 3,000 square feet split level penthouse suite.
Why can’t we build, and sell, a – Trump or Ritz Carlton Quality Condotel – in the Philippines and get the same buyers into the Philippines that flock to invest in lifestyle developments around the world enthuses Collingz