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updated on 15 AUG 2007

Condotels: The Solution to Offshore Real Estate Investing

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Owning a condominium-hotel or a Condotel is the next big thing in real estate investing.

For one, it gives the unit owner the benefit of earning superior rental income from his investment. It has also become the epitome of a stress-free property investment; no more worrying about the payment of association dues, real estate taxes and other fees and dues associated in owning a condominium unit. Apart from these, owning a Condotel provides the unit owner quality maintenance and upkeep of the unit.

Founded in 2002, Pacific Concord Properties, Inc. (PCPI) is an innovator in the Philippine real estate development industry. It was established to develop and sell condominium units and once the project is completed, provide the unit owners the option to join a pool of units that will be operated as a Condotel. The high demand for hotel rooms in key cities in the Philippines coupled with hotel-like standard and operation ensures the success of the Condotel operation. Another innovation that PCPI has introduced in the real estate industry is the Buy Safe, Pay Easy Plan. PCPI is the only developer in the Philippines which uses an escrow account to accept payment from the buyers and disburses funds for construction and other project related expenses.

The buyers pay directly to an escrow bank and not to PCPI (Buy Safe). This mitigates the common problem in the past wherein buyers pay directly to the developer and disbursements of the funds are left to the discretion of the developer. />
Moreover, PCPI is the only developer offering an in-house payment plan of 12 years (Pay Easy) without any down payment. This makes it easier for an individual or a family to purchase a condominium unit.

Presently, PCPI is on the second phase of the three-phase Lancaster development along Shaw Boulevard - Lancaster the Atrium Tower A.

CConveniently located in the heart of bustling business districts of Mandaluyong City and the Ortigas Business Center, Lancaster the Atrium is composed of two condominium buildings, namely, Tower A and Tower B, with an atrium from the 2nd floor up to the penthouse. It boasts of a nature-inspired atrium that strives to bring its residents and guests as close to nature as possible. This unique feature provides ultimate ventilation and gives the building a more spacious and relaxed atmosphere.

Once completed, this magnificent structure will be composed of residential, commercial and office units, complete with amenities like a resort-type pool, fine dining and casual dining restaurants, and a mini mall, among others. Other special features include room service, 24-hour security, and landscaped interiors and exteriors.

With its unique features plus the advantages associated with owning a ondotel unit, the Lancaster the Atrium is a must-buy for any serious real estate investor.

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