(Condominium Condotel For Sale – Archbishop Reyes, Cebu City)
Join an investment opportunity that will let you ride the tourism boom and thriving hotel industry in Cebu by making you a co-owner of one of the best quality hotel projects, soon to rise, in Cebu – The Grand Cenia Condotel and Residences. The Grand Cenia project is a 25-storey condotel and residential tower that will rise along Archbishop Reyes, corner Solon Street in Banilad, Cebu – right across Ayala Center Cebu and the Cebu Business Park.
1. CONDOTEL UNITS
The condotel units are 24.54 square meter hotel rooms available for purchase. These condotel units will be furnished and brought into a rental pool. All the units within the pool will be managed and operated as part of a fully functional hotel. Filinvest Land is currently looking to tie-up with Aston Resort International, an internationally renowned hotel and resort operator, for the hotel operations of the project. The proceeds generated from hotel operations, basically from renting out the pooled units, will then be subdivided to the condotel owners quarterly on a per square meter basis. We are projecting an annual return on investment of 15%. Thus, you may be able to recover your investment in about 6 years! Afterwards, you will continually and perpetually receive rental income from the hotel operations. Also, Condotel owners are allowed 14 nights free per year in the hotel plus generous discounts on extended stay.
2. RESIDENTIAL CONDO
The residential condominium units are for long-term residential end users. 1 bedroom, 2 bedroom and 3 bedroom units are available. Residents shall enjoy the project’s strategic location right at the heart of the commercial and business district, its proximity to good schools, as well as all the advantages of condominium living complete with amenities and a sweeping view of the business center and the surrounding mountains.
PRODUCTS AND PRICES
1. Condotel Units (7th floor to 18th floor) Price: P3,217,200 (standard price)
2. Residential Units (19th floor to 25th floor)
One Bedroom Unit – P6,450,500 (standard price)
Two Bedroom Unit – P9,322,300 (standard price)
Three Bedroom Unit – P13,244,400 (standard price)
PAYMENT TERMS AND FINANCING SCHEME
Reservation Fee: P50,000
Cash discount of 10% if paid within 7 days after reservation. 10% of the Total Contract Price (TCP) payable upon turnover of property
TCP payable in 24 monthly installments without interest
20 – 80 Scheme
20% downpayment (less reservation fee) payable in 24 monthly installments and the balance of 80% payable upon turnover of property (maybe financed thru in-house or bank)
50 – 50 Scheme
50% downpayment (less reservation fee) payable in 24 monthly installments and the balance of 50% payable upon turnover of property (maybe financed thru in-house or bank)