Only time will tell whether it was wise to purchase a Condotel Suite in the United States for this kind of entry level price, with optimism about profits from condotel operations -- where buyers rent their units for a share of the rental revenue. Analysing the current market prices and trend in interest and occupancy rates, we think there's going to be a lot of disappointed buyers of Condotels in the United States.
Offshore Property Investors are buying Studio Suites in Metro Manila and Cebu, Philippines ranging in price from $36,000 each. At these entry levels, this will be more than enough to cover the investment. Only time will tell whether it was wise to purchase a Condotel Suite for this kind of entry level price, however simple mathmatics and common sense dictates in the positive with increased optimism about profits from condotel operations -- where buyers rent their units for a share of the rental revenue. Hotels in Metro Manila operate on an average high 80's% occupancy rate with Cebu even higher pushing into the 90's% occupancy.
Condotel Investments in the Philippines.
Condotel Developments are now available in the Philippines through Pacific Concord Properties Inc's Lancaster Suites Manila and Lancaster Cebu projects
A Condominium Hotel or "Condotel" combines the convenience of a residential condo with the amenities of a hotel. It is not an ordinary Condo Building. It is specifically designed architecturaly, as a Hotel first and foremost with Hotel Style Suites which are normally larger than regular residential units. A Condotel normally has more amenities, facilities and services not found in condominiums.
Condotels are completely different from Residential Condominiums where unit owners can act as a landlord and rent their units privately or have someone rent their units for them.
Rental Income from a Condotel Unit is normally 30-40% higher that a regular rental because the Hotel concept offers the option of daily, weekly, monthly leases which ordinary private condo unit owners would not normally entertain.
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. For the tenant, this means savings since he is not charged a daily rate nor does he have to put up a security deposit like in a regular apartment.
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.
Unit owners in the rental pool enjoy totally hassle-free CONDOTEL management. They need not worry about unpaid electricity bills, unpaid rent, and other problems so common in conventional leasing. All concerns, down to the payment of electricity bills and utilities are taken cared of by the professional hotel management operator.
Condotel Suites can be purchased as vacation homes to buyers whom would probably only occupy the units no more than one month per year. In normal circumstances the unit owner pays the maintenance and upkeep of the unit for the entire year without deriving any benefit. However in a Condominium Hotel, during the time they do not occupy their units, they have the option to rent out their Condo through the hotel management and receive rental income on their property making the ownership of a unit an income generating property and self-liquidating investment with hassle-free property management as the hotel can rent out their unit, with all the services provided, by day, week or month. Because of the additional superior features and services provided by the hotel, Condotel Suites are normally valued 15 to 20 % higher than same size residential units without added hotel features and amenities....
In the Philippines, an example of this new breed of investment is the Lancaster Suites now under completion located along Shaw Boulevard, Metro Manila where unit owners can sit back, relax, and wait for their monthly rental income from anywhere around the world.
Since Lancaster Suites is a full service Condotel, unit owners also enjoy full hotel services such as 24-hour telephone operator service, a local PABX telephone line in each unit (no need to apply for your own landline), 24 hour House Keeping service, Laundry pickup service on demand, even as a resident.
Pacific Concord Properties’ President & CEO, Mr. Ronald Lim is the author of the professionalized Condotel Concept in the Philippines wherein unit owners in the rental pool get equal rental income per square meter; per month. Fairness is assured since all Lancaster Suites unit owners enrolled in the rental pool earn equal rental income based per square meter. All unit owners will earn the same amount per square meter regardless of actual unit usage. This makes the Lancaster Suites a profitable, transparent and fair investment especially for foreigners and overseas based Filipinos.
At Lancaster Suites, there is no property Management Fee.
The Lancaster Suites [Manila] is designed and conceptualized as a private residential Condominium Hotel ["Condotel"] or a fully serviced private residential condominium building with all facilities of a Hotel, Room Service, 24 Hour Security Guards and Reception, PABX Telephone Operators, High Speed Internet & Cable TV etc………… even an integrated Mini Mall ...
The units in the building are all privately owned by the respective buyers. The unit owner has the "option" of enrolling his or her unit in the Lancaster Suites "Condotel" Rental Pool. The building and the rental pool will be managed and operated by Lancaster Hotels & Resorts which is a affiliate company of the Owner/developer Pacific Concord Properties, Inc., If the unit owner opts to enroll a unit in the "Rental Pool" there are no upfront or any kind of "Management Fees" payable whatsoever. The unit owner merely has to enroll the unit for a yearly period, however they may still use the unit for 1 month within the calendar year with notice….
The Lancaster Suites will operate as a Private Hotel and will source clientele from Travel Agencies, Advertising, Local Chambers of Commerce, Business Establishments and other prominent organizations in the Ortigas Center area etc as would any other Hotel in Manila…….
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 1,500 square meters. The Hotel room operations derive a monthly rooms rental income of 2,640,000.00 pesos on 80% occupancy 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 2,640,000.00 x 60% = 1,584,000.00 divided by the total floor area of the rental pool units [1,500 sqm] = 1,056 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 30 square meters, multiplied by the dividend of 1,056 pesos. Ergo: your rental income would be 31,680.00 pesos monthly. This is pro-rated whether you own a Studio, 2 Bedroom or Penthouse Suite or an annual gross ROI through rental income of some 18% [16% net] on todays cash purchase price of a condotel suite.
Moreover, because this is "Cooperative" basis, even if your unit was not actually used during the month you still get a share of rental proceeds because of the pro-rated pool sharing system of dividends…
There are in all Condominiums the "Monthly Condominium Dues" payable to cover such recurring expenses as the maintenance of the common areas, security guards etc….. however, in a Condotel, building maintenance and operations is subsidized by the additional revenues a condotel provides the building management
The Lancaster Suites is Full Property Ownership - Not Time Sharing
Most real estate "Agents" would seem to have a totally incorrect about Condominium Ownership in the Philippines that a Condo Unit can be only be owned for 50 years. This idea wherever it came from is total bull. The property held by Pacific Concord Properties, Inc., for the Lancaster Developments is a "Freehold" property. It is free from all loans, mortgages and any other encumbrances. The property is not leased. The land where Lancaster Suites [Manila] is located is fully owned. It is covered by a Land Certificate of Title reproduced in the corresponding owners Transfer Certificate of Title [TCT]. This applies to all Condominiums in the Philippines registered under the Condominium Act [Republic Act 4726]……………
Lancaster Suites [Manila] is fully owned and titles issued and transferred into the name of the Condominium Corporation in accordance with the Condominium Law. The Lancaster Manila Condominium Associations are incorporated and registered with the Housing & Land Use Regulatory Board ….
Each individual unit [as well as all the "Common Areas"] in the building are covered by, and owners will be issued a full Condominium Certificate of Title [CCT] representing their ownership in fee simple of the Condominium Unit.
There is no "time limit" as to ownership of the Lancaster Condominium Units. This [Lancaster] is not a "time sharing" Condominium. However, where the "50 Year Term" is applicable is the charter of Corporations under the Corporation Code. This has nothing to do with ownership of a Condominium Unit per see. However, you must fully understand the mechanics of a Condominium Corporation, that owns and holds freehold titles to the land, of which the unit owners are automatically stockholders and members and the rights and privileges of owning a Condominium Unit covered by Condominium Certificates of Title representing ownership in fee simple of the unit.
As with any Corporation, the Lancaster Suites Manila Condominium Associations will have stockholders and members. The Stockholders and Members will comprise of each and every holder of a Condominium Certificate of Title [CCT] of a unit in the building. This is where the 60% - 40% ownership rule by Filipinos/Non-Filipinos derives and is applicable as it is the Condominium Association that owns the Land and holds "Freehold" title thereto. Each holder of a CCT is automatically a stockholder and member of the Association and has all rights and privileges as a stockholder of any corporation. He has the right to vote [according to the number of units he owns] and he is also entitled to pro-rated share of the assets of the Corporation upon it’s dissolution which can only be done by a majority 2/3rds vote. In this case the "assets" of the Corporation are Freehold Land Titles together with Titles to the "Common Areas" of the building.
Now here’s where the 50 year thing comes from…… A corporation under Philippine Law has for it’s Charter the existence in Law for a period of 50 Years. At the end of the 50 years, the then Stockholders of the Corporation [which are all CCT holding unit owners] may vote to renew the Corporate Charter for another 50 years…. Or vote to dissolve the Corporation in which case the "Assets" of the Corporation may be sold and proceeds equally divided among the stockholders on a pro-rated basis. This means that a unit owner in a building of let’s say 300 units assuming he owns one unit would get a 1/300th share of the proceeds of any sale of the assets….
For anyone interested in Condotel Investments at the Lancaster Suites, the Current Prices & Available Condotel Units are as follows...
Lancaster Suites Manila Atrium Tower A Shaw, Boulevard, Metro Manila Reserve Prime Units Now!
New Payment Plans Effective October 15, 2006...
Introducing the New Payment Plans for the Lancaster Atrium Manila Tower A
The Lancaster Atrium Suites are now available on the very affordable and competitive New Payment Plan that provides for Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans...
Effective October 1, 2006 the selling price Lancaster Manila Atrium Tower A Tax Exempt Studio Units is Pesos 75,888 or $1,518.00 per sqm. The One Bedroom, Two and Three Bedroom Suites are priced at Pesos 84,994.56 or $1,700.16 per sqm including Government Taxes [R-Vat 12%]. Units may be purchased on a Six Year No Interest Charge Term of payment or longer term "In-House" financing plans. Turnover of units for Tower A will be from December 2009.
All payments will be made to the Lancaster Suites Manila Atrium Tower A Equitable PCI Bank Escrow Trust Account. It is anticipated, given the track record on sales of Tower I Units that property appreciation for initial buyers of Tower A Atrium Units will be at least 70-80% on completion
and 100% on turnover of units from December 2009
Make sure you reserve a Unit Now at Current Price Offerings and extended terms of payment and stand to earn at least 70-80% in Real Property Appreciation by completion of units in 2009/2010
With current Global Structural Steel and Reinforced Steel Bar Prices increasing some 50%, we anticipate further price increases effective from December 2006
Lancaster Suites Manila Atrium Tower A Reservations
For Available Executive Studio Suites
Executive Studio Suites
Price: October 1, 2006
Lancaster Suites Manila Atrium Tower II Executive Studio Suites. Average Floor Area 28.17 square meter [304sqft] at $1,518.00/sqm. USD 42,762.06. These units are either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay or the Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium.
The Current Price for a Studio Suite provides it may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 72 consecutive equal monthly payments of USD 586.97. Alternatively Save USD 2,535.72 by making the Reservation, USD 500.00 then within 30 days a 30% Net Discounted Down Payment of USD 10,142.89 and Balance payable without interest over 72 consecutive equal monthly payments of USD 410.88.
The Lancaster Atrium Executive Studio Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 28.17 sqm [304 sqft Executive Studio [Contract Price USD 42,762.06] then 60 consecutive monthly payments of only USD 471.93 with the balance of USD 13,946.48 either payable in cash on turnover or to be financed over another 60 months payment plan.....
Another alternative, Save USD 5,663.11 by making the Reservation, USD 500.00 then within 30 days a 67% Net Down Discounted Payment of USD 22,652.46 and the remaining 33% [USD 13,946.48] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 8,552.41] on the unit price... Pay 90% Now [USD 30,788.68] and the remaining 10% [USD 3,420.96] on unit turnover from December 2009
Executive Studio DeLuxe Suites
Price: October 1, 2006
Lancaster Suites Manila Atrium Tower A Executive DeLuxe Studio Suites. Average Floor Area 32.50 square meters [350sqft] at $1,518.00/sqm. USD 49,335.00. 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 72 consecutive equal monthly payments of USD 678.26. Alternatively Save USD 2,930.10 by making the Reservation, USD 500.00 then within 30 days a 30% Net Discounted Down Payment of USD 11,720.40 and Balance payable without interest over 72 consecutive equal monthly payments of USD 474.78.
The Lancaster Atrium Executive DeLuxe Studio Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans.
Pay only USD 500.00 Reservation for a 32.50sqm [350sqft Executive Studio [Contract Price USD 49,335.00] then 60 consecutive monthly payments of only USD 545.32 with the balance of USD 16,115.55 either payable in cash on turnover or to be financed over another 60 months payment plan.....
Another alternative, Save USD 6,543.89 by making the Reservation, USD 500.00 then within 30 days a 67% Net Discounted Down Payment of USD 26,175.56 and the remaining 33% [USD 16,115.55] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 9,867.00] on the unit price... Pay 90% Now [USD 35,521.20] and the remaining 10% [USD 3,946.80]on unit turnover from December 2009
Lancaster Suites Manila Atrium Tower A Reservations
One Bedroom Corner Suites
Price: October 1, 2006
Lancaster Suites Manila Atrium Tower A One Bedroom Corner Suites Average Floor Area 62.82 square meters [675 sqft] at $1,700.16/sqm. USD 106,804.05 [Including Taxes] These units are all Corner Suites either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay and the Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium.
Current Special Offer for a One Bedroom Suite provides that it may be purchased with a Reservation Fee USD 500.00 and Balance Payable without interest over 72 consecutive equal monthly payments of USD 1,476.44. Alternatively Save USD 6,378.24 by making the Reservation, USD 500.00
then within 30 days a 30% Net Down Payment of USD 25,512.97 Balance payable without interest over 72 consecutive equal monthly payments of USD 1,033.51.
The Lancaster Atrium One Bedroom Corner Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans...
Pay only USD 500.00 Reservation for a 62.82 sqm [675 sqft One Bedroom Suite [Contract Price USD 106,804.05] then 60 consecutive monthly payments of only USD 1,187.06 with the balance of USD 35,080.34 either payable in cash on turnover or to be financed over another 60 months payment plan.....
Another alternative, Save USD 14,244.74 by making the Reservation, USD 500.00 then within 30 days a 67% Net Discounted Down Payment of USD 56,978.97 and the remaining 33% [USD 35,080.34] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 21,360.81] on the unit price. Pay 90% Now [USD 76,898.92] and the remaining 10% [USD 8,544.32] on unit turnover from December 2009
Lancaster Suites Manila Atrium Tower A Reservations
One Bedroom "Loft Type" Suites
Price: October 1, 2006
Lancaster Suites Manila Atrium Tower A Executive 1 Bedroom "Loft Type" Suites. Floor Area 50.69 sqm [546 sqft] at $1,700.16/sqm. USD 86,181.11 [Including Taxes] These 2-Storey 'Loft Type' units are overlooking the Swimming Pool Deck. All units within Lancaster Suites Manila Atrium.
Current Special Offer for a One Bedroom "Loft Type" Suite provides purchases with a Reservation Fee USD 500.00 and Balance Payable without interest over 72 consecutive equal monthly payments of only USD 1,190.02. Alternatively Save USD 5,140.86 by making a Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 20,563.47 resulting Balance payable without interest over 72 consecutive equal monthly payments of USD 833.02.
The Lancaster Atrium One Bedroom "loft Type" Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly
installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans.
Pay only USD 500.00 Reservation for a 50.69 sqm [546 sqft One Bedroom "Loft Type" Suite [Contract Price USD 86,181.11] then 60 consecutive monthly payments of only USD 956.77 with the balance of USD 28,274.77 either payable in cash on turnover or to be financed over another 60 months payment plan.....
Another alternative, Save USD 11,481.28 by making the Reservation, USD 500.00 then within 30 days a 67% Net Discounted Down Payment of USD 45,925.07 and the remaining 33% [USD 28,274.77] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 17,236.22] on the unit price. Pay 90% Now [USD 62,050.40] and the remaining 10% [USD 6,894.49] on unit turnover from December 2009
Lancaster Suites Manila Atrium Tower A Reservations
Two Bedroom Loft Type Suites
Price: October 1, 2006
Lancaster Suites Manila Atrium Tower A Executive Two Bedroom Loft Type Suites. Floor Area 75.67 square meters [815sqft] at $1,700.16/sqm. USD 128,651.11 [Including Tax] These units are all 2-Storey "Loft-Type" Suites either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay and the Swimming Pool Deck. All units are within Lancaster Suites Manila Atrium. The Special Offer for Two Bedroom Suites provides they may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 72 consecutive equal monthly payments of USD 1,779.88. Alternatively Save USD 7,689.06 by making a Reservation USD 500.00 then within 30 days a 30% Net Down Payment of USD 30,756.27 and Balance payable without interest over 72 consecutive equal monthly payments of USD 1,245.91.
The Lancaster Atrium Two Bedroom 'Loft Type" Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly
installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans.
Pay only USD 500.00 Reservation for a 75.67 sqm [815 sqft] Two Bedroom "Loft Type" Suite [Contract Price USD 128,651.11] then 60 equal consecutive monthly payments of only USD 1,431.02 with the balance of USD 42,289.87 either payable in cash on turnover or to be financed over another 60 months payment plan.....
Another alternative, Save USD 17,172.24 by making the Reservation, USD 500.00 then within 30 days a 67% Net Discounted Down Payment of USD 68,689.00 and the remaining 33% [USD 42,289.87] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 25,730.22] on the unit price. Pay 90% Now [USD 92,628.80] and the remaining 10% [USD 10,292.09] on unit turnover from December 2009
Lancaster Suites Manila Atrium Tower A Reservations
Three Bedroom "Loft-Type Corner Suites
Price: October 1, 2006
Lancaster Atrium Tower A Executive Three Bedroom Loft Type Suites. Average Floor Area 106.00 square meters [1140sqft] at $1,700.16/sqm. USD 180,216.96 [Including Taxes] These units are all "Corner Suites" either facing Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati towards Manila Bay and Swimming Pool Deck. All units are within Lancaster Suites Manila Atrium.
The Current Special Offer for the Three Bedroom Suites provides purchases can be made with only USD 500.00 Reservation Balance Payable without interest over 72 consecutive equal monthly payments USD 2,496.07. Alternatively Save USD 10,783.00 by making the Reservation, USD 500.00 then within 30 days 30% Net Discounted Down Payment of USD 43,132.08 and Balance payable without interest over 72 consecutive equal monthly payments USD 1,747.25.
The Lancaster Atrium Three Bedroom Corner Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly
installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans.
Pay only USD 500.00 Reservation for a 106.00 sqm [1140 sqft Three Bedroom Suite [Contract Price USD 180,216.96] then 60 consecutive monthly payments of only USD 2,006.84 with the balance of USD 59,306.60 either payable in cash on turnover or to be financed over another 60 months payment plan.
Another alternative, Save USD 24,082.07 by making th Reservation, USD 500.00 then within 30 days a 67% Net Discounted Down Payment of USD 96,328.29 and the remaining 33% [USD 59,306.60] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 36,043.39] on the unit price.... Pay 90% Now [USD 129,756.21] and the remaining 10% [USD 14,417.36] on unit turnover from December 2009
Lancaster Suites Manila Atrium Tower A Reservations
Three Bedroom Penthouse Suites
Price: October 1, 2006
Lancaster Atrium Tower A Executive Three Bedroom Penthouse Suites. Average Floor Area 136.30 square meters [1467 sqft] at $1,856.96/sqm. USD 253,103.65 [Including Taxes] These units are all 2-Storey Loft-Type "Corner Suites" either facing Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati towards Manila Bay and Swimming Pool Deck. Current Special Offer for Penthouse Suites provide purchases with USD 500.00 Reservation and Balance Payable without interest over 72 consecutive equal monthly payments USD 3,508.38. Alternatively Save USD 15,156.21 by making the Reservation, USD 500.00 then within 30 days 30% Net Down Payment of USD 60,624.88 and Balance payable without interest over 72 consecutive equal monthly payments USD 2,455.87.
The Lancaster Atrium Penthouse Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans.
Pay only USD 500.00 Reservation for a 136.30 sqm [1467 sqft One Bedroom Suite [Contract Price USD 253,103.65] then 60 consecutive monthly payments of only USD 2,820.74 with the balance of USD 83,359.21 either payable in cash on turnover or to be financed over another 60 months payment plan.....
Another alternative, Save USD 33,848.88 by making the Reservation, USD 500.00 then within 30 days a 67% Net Discounted Down Payment of USD 135,395.56 and the remaining 33% [USD 83,359.21] on unit turnover from December 2009
Cash Payment option, take a full 20% discount [Save USD 50,620.73] on the unit price. Pay 90% Now [USD 182,234.62] and the remaining 10% [USD 20,248.30] 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 split type air-conditioners
For a Copy of the Lancaster Suites Slide Show Presentation kindly copy and paste the following URL into your Web Browser
http://www.kodakgallery.com/I.jsp?c=thslvaa.507okf1e&x=0&y=gzpcua
Please note these are average floor areas. Actual unit sizes vary from floor to floor. Please note all Unit offers on Cash Basis will be given Priority Reservation Status. Prices quoted are in US Dollars at current exchange rate 50.00/1.00
We are also opening the sale of Membership Shares [Proprietary Debentures] for the Royal Lancaster Club International. This is a Private Membership Club located in the Podium Levels of the Lancaster Suites Tower I. Apart from the amenities and facilities of the club, members will enjoy discounted benefits on the Condotel units in Manila and Cebu. Individual Membership for the initial offering, will be from Pesos 280,000.00 [around U$ 5,600.00]. Membership in the Club is [Ownership] Fully Proprietary. A Stock Certificate is issued to all buyers. This is Lifetime and fully transferable.
The Royal Lancaster Club International.
Exclusive Members Only Proprietary Business Club located within the Lancaster Suites [Manila] Condominium Hotel Tower I offering Corporate and Individual Proprietary Membership Shares [Initial Offering] March 2007.
Facilities of the Club will include, Spa & Massage Amenities, Fine Dining Restaurant, Bar & Lounge, Cigar Room, Card Room, Business Center, Full Secretarial Facilities, Reference Library, Board Room and Meeting/Conference Rooms, Swimming Pool with discounted benefits for accomodation at the Lancaster Suites
For inquiries on the Lancaster Suites current available units, price and terms of payment available together with information on the Launch of Tower II sales, please contact:
BETH COLLINGZ
PLC International Marketing Networks
Pacific Concord Properties Inc., Manila Head Office
Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines
Phone: Manila [632] 717 1958 Fax: Manila [632] 718 1828
Pacific Concord Properties Inc., Cebu Office
Lapu-Lapu City, Mactan. Cebu. Philippines
Phone: Cebu [6332] 340 0721 Fax: [6332] 495 4938
EMail: mailto:plcsales@pldtdsl.net
EMail: mailto:lancastercondotels@yahoo.com
Web: http://www.lancastersuites.com [Lancaster Condotels]
Web: http://www.plcglobalpinoy.com [Condotel Webring]
Profession 
Condo Hotel Investments: Not Always a Smart Idea in the United States !