Monday, June 02, 2008 Developer opens Lapu-Lapu project to condotel buyers
WITH the unveiling of its official logo, the latest hotel and resort development in Maribago, Lapu-Lapu City opened its doors to investors who want to own a vacation home and enjoy a five-star hotel lifestyle.
Philippine BXT Corp. (PhilBXT), developer of Imperial Palace Waterpark Resort and Spa, announced last Saturday that it is now ready to accept applications to purchase condo-hotel units at the resort project.
Bruce Chiongbian, vice-president of Phil BXT, said the company is offering “market driven investments,” like the Imperial Palace Waterpark Resort that is targeted for completion by the end of this year.
“The investor will also enjoy privileges exclusive only to him,” said Reno Bacolod, Imperial Palace marketing manager.
He said that aside from owning a fully-furnished hotel room, the investor will also be assigned one golf share without any added cost.
The company will also offer a three-year return-of-investment scheme where investors will earn a guaranteed eight percent of the actual investment price every year during the first three years of the hotel’s operation. After three years of its operation, the hotel may also offer to buy back the unit at the original purchase price.
“This, if the investor will allow it,” Bacolod said.
He said that all 10 units located on the ninth floor of Imperial Palace’s Building D have been blocked off.
A total of 70 one-bedroom suites are now available with prices ranging from P9 million to over P11 million.
Once the resort becomes fully operational, it will have a total of 556 hotel rooms and amenities that will “surpass standard requirements.”
Hotel rooms will have an area ranging from a minimum of 38 square meters to 110 square meters.
Aside from the hotel rooms, the 7.5-hectare resort will also feature, among others, restaurants, pool and a golf course. (DME)
