Wednesday, July 16, 2008 UnionBank approves end-user financing with PhilBXT Corp.
UNIONBANK of the Philippines recently signed an agreement with Philippine-BXT Corp. pre-approving end-user financing for the investors of the Imperial Palace Waterpark Resort and Spa in Maribago, Mactan—Cebu’s latest premier vacation destination.
UnionBank seeks to cater to the specific needs of its customers, providing clear-cut technology driven solution to meet their requirements.
Through end-user financing, investors of the five-star resort hotel may acquire their units with an option to pay in full or pay a down payment and have the balance financed through Unionbank under agreed terms. Minimum loanable amount is P500,000 for a minimum loan term of one year.
The Imperial Palace is a brand new development located on a eight-hectare property in Maribago, Mactan Island owned and operated by Korean stakeholders of Philippine-BXT Corp.
Phil-BXT has tapped the services of Imperial Palace Hotel in Seoul to run and manage the class “AAA” resort.
The world class 5-Star Resort Hotel has been accorded Pioneer Status by the Department of Tourism. Imperial Palace
Waterpark Resort and Spa will have a total of 556 rooms; 425 of which are hotel suite rooms in six medium rise buildings.
There will also be 24 two-story pool villas.
Investors can enjoy an 8 percent guaranteed return of investment on the first three years of operation and a share of the total rooms’ revenue from year four onwards.
