An excellent release of just 30 hotel suites in this favoured development with a guaranteed rental return rewarding the investor with a gross return of 21% with the option of a developer mortgage of 60% LTV. After maintenance costs etc and finance this project will still deliver a return of 15% net
Located on the highly regarded eastern side of Mactan Island, this delightful resort and spa offers beauty & tranquillity, set within the Pearl of the Orient and just 20 minutes from Cebu International Airport. Covering 10,000 sqm and with its own private beach, this stunning development boasts views of the Bohol Straits and Cordova Island.
These 30 hotel suites will form part of this excellent development which has offers a range of accommodation and is complimented by 26 spa treatment rooms, swimming pools, play areas, restro bar, conference facilities, shopping, watersport facilities, including a diving centre, and a superb professional gymnasium.
The deposit paid by the investors is protected by an insurance bond and the project we are advised will be government bonded. The rental guarantee for this project is offered by the developer and is clearly defined in the legally binding Sales and Purchase contract for the property. Investment projections are available for the apartments and the villas on request. There is also non-status finance available of 60% LTV.
Whilst an emerging market for the property investor the tourism market in the Philippines is already established. Tourism in the Philippines breached 3 million in 2007. In Q1 2008 tourism grew by approximately 8%, with the Koreans being the highest source. The growth seen in 2008 was due to a high percentage increase in tourists from Hong Kong, Canada, Australia, China and the UK.
The location and the ease of transport is key to this development and will appeal to the established Korean and Australian tourism markets. The development will be of a 5* standard, and will be managed by an established global management company 'Continent Hotels & Resorts'
( http://www.continenthotels.com/indexb.php ).
As you will observe, they are already actively advertising the resort, with a Korean tour operator already in place. The resort facilities include spa treatment rooms, swimming pools, play areas, restro bar, conference facilities, shopping, watersport facilities, gymnasium and private beach.
