Condotel Investments in the Philippines are Better

[Beth Collingz]

Condotel Investments: Not Always a Smart Idea in the United States !

Even with record room rates, owning your piece of the condo-hotel business in the United States might not be so profitable, experts are saying. Yet thousands of investors have yet to figure that out. Economic indications show a trending towards recession in the United States real estate industry with lower demand, higher interest rates and falling property prices. Take Out from the equation recent yearly average appreciation of real estate in the short-mid term. Any US investment at this time is now viewed as long term.

American Real Estate Investors are buying Studio Suites in Florida ranging in price from $500,000 each at a South Beach condo hotel. In other areas prices are even significantly higher. But will that be enough to cover the investment?

Only time will tell whether it was wise to purchase a Condotel Suite in the United States for this kind of entry level price, with optimism about profits from condotel operations -- where buyers rent their units for a share of the rental revenue. Analysing the current market prices and trend in interest and occupancy rates, we think there's going to be a lot of disappointed buyers of Condotels in the United States.

Condo-hotel buyers in the United States shouldn't think revenue from the units they buy will cover a Florida mortgage, particularly with current prices. A new study goes further and predicts most South Florida real estate projects of this nature won't even cover maintenance fees, property taxes or other costs.

In a recent report, issued by the National Association of Condo Hotel Owners (NACHO), it projects returns for typical condo-hotel units in Fort Lauderdale, Miami, Miami Beach and Coral Gables. Assuming owners keep 35-40 percent of the rent (the standard share) they would pay between $500-15,000 a year to cover expenses. That assumes they paid cash for their units, too. There's the small matter of Florida home mortgage payments and interest fees, which would be extra. On top of insurance, Florida mortgage payments and property taxes, and a flood of new luxury hotels, will keep rates too low to make the units profitable. In fact, the study cites the small hotel market of Coral Gables as the lone location where condo-hotel buyers could expect returns (of a modest 1-2 percent) on their units.

Condotel Investments: A Smart Idea in the Philippines !

Owning your piece of the condo-hotel business in the Philippines will be more profitable than the same investment dollar for dollar in the United States. It's amazing that thousands of US property investors have yet to figure that out.

Offshore Property Investors are buying Studio Suites in Metro Manila and Cebu, Philippines ranging in price from $36,000 each. At these entry levels, this will be more than enough to cover the investment. Only time will tell whether it was wise to purchase a Condotel Suite for this kind of entry level price, however simple mathmatics and common sense dictates in the positive with increased optimism about profits from condotel operations -- where buyers rent their units for a share of the rental revenue. Hotels in Metro Manila operate on an average high 80's% occupancy rate with Cebu even higher pushing into the 90's% occupancy.

Analysing the current Philippine market prices and trend in the Countries interest and occupancy rates, we think there's going to be a lot of very happy investors and buyers of Condotels in the Philippines.

Condo-hotel buyers in the Philippines dont even have to worry about interest rates because developers offer short term payment plans over 2-5 years at zero interest so buyers can immeadiately think revenue from the units they buy because they dont have to worry about computing income to cover the interest portion on a developers interest free payment plan. The savings on interest payments are more than enough to cover maintenance fees, property taxes or other costs.

Returns for typical condo-hotel units in Metro Manila & Cebu, Philippines are much higher because owners keep 60 percent of the rent. With current market prices for Hotel Accomodation, assuming they paid cash for their units, rental ROI's could go as high 16%-18% per Annum and better yet, as most hotel clients pay their bills using major US Credit Cards, the overseas investors are going to receive their rentals in US Dollars avoiding any concerns over fluctuating exchange rates !

Moreover, because the entry level is 90% less per Studio Suite in the Philippines, the risk factor is greatly deminished. Moreover, real estate appreciation is running 25% per annum on pre-construction purchases and around 15% per annum on completed units..... combine this with possible Tax benefits for US Offshore Investors and the Philippines has to be a "Win-Win" opportunity....

For the price of garage in the US nothing to loose and everything to GAIN ??

Guessing on Revenue from Condotels in the United States

Would-be buyers of condo-hotel projects in the United States are largely left to guess at the revenue their units will generate because Federal security law bars real estate developers from passing on the projected hotel guest rate to condo-hotel buyers. Real estate agents in the US can lose their licenses if they talk to you about how much income you're going to generate, as a matter of fact. With US hotels unable to provide their rate projections, staffers often urge buyers to do their own research on nearby hotels. But that's not exactly easy, as virtually no hotels release year-end financial data, and rates quoted at the front desk fluctuate day to day.

Solid Information and Revenue Data from Condotels in the Philippines

Buyers of condo-hotel projects in the Philippines are not left to guess at the revenue their units will generate because there are NO Federal security law that bars real estate developers from passing on the projected hotel guest rate to condo-hotel buyers. Real estate agents in the Philippines can't lose their licenses if they talk to you about how much income you're going to generate, as a matter of fact. Philippine hotels are readily able to provide their rate projections. This enables the Condotel unit investor all the information he needs to calculate the rental returns and ROI on his investments making the purchase practically risk free....

Condotel Investments in the Philippines

Condotel Developments are now available in the Philippines through Pacific Concord Properties Inc's Lancaster Suites Manila and Lancaster Cebu projects

A Condominium Hotel or "Condotel" combines the convenience of a residential condo with the amenities of a hotel. It is not an ordinary Condo Building. It is specifically designed architecturaly, as a Hotel first and foremost with Hotel Style Suites which are normally larger than regular residential units. A Condotel normally has more amenities, facilities and services not found in condominiums.

Condotels are completely different from Residential Condominiums where unit owners can act as a landlord and rent their units privately or have someone rent their units for them.

Rental Income from a Condotel Unit is normally 30-40% higher that a regular rental because the Hotel concept offers the option of daily, weekly, monthly leases which ordinary private condo unit owners would not normally entertain.

Unit owners in a "Condotel" may opt to join the rental pool where he signs with a professional hotel management team who will convert the project into a world class hotel / serviced apartment. A serviced apartment is run just like a hotel but guests usually stay on a long term basis. For the tenant, this means savings since he is not charged a daily rate nor does he have to put up a security deposit like in a regular apartment.

Aside from real estate appreciation, unit owners receive a steady monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because the hotel management will pool together the total income of the entire hotel and distribute this to unit owners net of any expense. This makes the investment cost efficient and practically risk free.

Unit owners in the rental pool enjoy totally hassle-free CONDOTEL management. They need not worry about unpaid electricity bills, unpaid rent, and other problems so common in conventional leasing. All concerns, down to the payment of electricity bills and utilities are taken cared of by the professional hotel management operator.

Condotel Suites can be purchased as vacation homes to buyers whom would probably only occupy the units no more than one month per year. In normal circumstances the unit owner pays the maintenance and upkeep of the unit for the entire year without deriving any benefit. However in a Condominium Hotel, during the time they do not occupy their units, they have the option to rent out their Condo through the hotel management and receive rental income on their property making the ownership of a unit an income generating property and self-liquidating investment with hassle-free property management as the hotel can rent out their unit, with all the services provided, by day, week or month. Because of the additional superior features and services provided by the hotel, Condotel Suites are normally valued 15 to 20 % higher than same size residential units without added hotel features and amenities....

In the Philippines, an example of this new breed of investment is the Lancaster Suites now under completion located along Shaw Boulevard, Metro Manila where unit owners can sit back, relax, and wait for their monthly rental income from anywhere around the world.

Since Lancaster Suites is a full service Condotel, unit owners also enjoy full hotel services such as 24-hour telephone operator service, a local PABX telephone line in each unit (no need to apply for your own landline), 24 hour House Keeping service, Laundry pickup service on demand, even as a resident.

Pacific Concord Properties’ President & CEO, Mr. Ronald Lim is the author of the professionalized Condotel Concept in the Philippines wherein unit owners in the rental pool get equal rental income per square meter; per month. Fairness is assured since all Lancaster Suites unit owners enrolled in the rental pool earn equal rental income based per square meter. All unit owners will earn the same amount per square meter regardless of actual unit usage. This makes the Lancaster Suites a profitable, transparent and fair investment especially for foreigners and overseas based Filipinos.

At Lancaster Suites, there is no property Management Fee.

The Lancaster Suites [Manila] is designed and conceptualized as a private residential Condominium Hotel ["Condotel"] or a fully serviced private residential condominium building with all facilities of a Hotel, Room Service, 24 Hour Security Guards and Reception, PABX Telephone Operators, High Speed Internet & Cable TV etc………… even an integrated Mini Mall ...

The units in the building are all privately owned by the respective buyers. The unit owner has the "option" of enrolling his or her unit in the Lancaster Suites "Condotel" Rental Pool. The building and the rental pool will be managed and operated by Lancaster Hotels & Resorts which is a affiliate company of the Owner/developer Pacific Concord Properties, Inc., If the unit owner opts to enroll a unit in the "Rental Pool" there are no upfront or any kind of "Management Fees" payable whatsoever. The unit owner merely has to enroll the unit for a yearly period, however they may still use the unit for 1 month within the calendar year with notice….

The Lancaster Suites will operate as a Private Hotel and will source clientele from Travel Agencies, Advertising, Local Chambers of Commerce, Business Establishments and other prominent organizations in the Ortigas Center area etc as would any other Hotel in Manila…….

The Lancaster rental pool will operate on a "Co-operative" basis. Example: There are 50 units enrolled in the pool with a total floor area of 1,500 square meters. The Hotel room operations derive a monthly rooms rental income of 2,640,000.00 pesos on 80% occupancy for the calendar month. The unit owners will receive a 60% share of the net proceeds as share of the rentals. This however will be paid as a "Dividend" based upon the total floor area of the rental pool. Example: Proceeds in Pesos 2,640,000.00 x 60% = 1,584,000.00 divided by the total floor area of the rental pool units [1,500 sqm] = 1,056 pesos per square meter which will be paid as the monthly rental dividend. Hence, if you owned a Studio Unit in the rental pool, you share of the proceeds for the month would be your floor area, example 30 square meters, multiplied by the dividend of 1,056 pesos. Ergo: your rental income would be 31,680.00 pesos monthly. This is pro-rated whether you own a Studio, 2 Bedroom or Penthouse Suite or an annual gross ROI through rental income of some 18% [16% net] on todays cash purchase price of a condotel suite.

Moreover, because this is "Cooperative" basis, even if your unit was not actually used during the month you still get a share of rental proceeds because of the pro-rated pool sharing system of dividends…

There are in all Condominiums the "Monthly Condominium Dues" payable to cover such recurring expenses as the maintenance of the common areas, security guards etc….. however, in a Condotel, building maintenance and operations is subsidized by the additional revenues a condotel provides the building management

The Lancaster Suites is Full Property Ownership - Not Time Sharing

Most real estate "Agents" would seem to have a totally incorrect about Condominium Ownership in the Philippines that a Condo Unit can be only be owned for 50 years. This idea wherever it came from is total bull. The property held by Pacific Concord Properties, Inc., for the Lancaster Developments is a "Freehold" property. It is free from all loans, mortgages and any other encumbrances. The property is not leased. The land where Lancaster Suites [Manila] is located is fully owned. It is covered by a Land Certificate of Title reproduced in the corresponding owners Transfer Certificate of Title [TCT]. This applies to all Condominiums in the Philippines registered under the Condominium Act [Republic Act 4726]……………

Lancaster Suites [Manila] is fully owned and titles issued and transferred into the name of the Condominium Corporation in accordance with the Condominium Law. The Lancaster Manila Condominium Associations are incorporated and registered with the Housing & Land Use Regulatory Board ….

Each individual unit [as well as all the "Common Areas"] in the building are covered by, and owners will be issued a full Condominium Certificate of Title [CCT] representing their ownership in fee simple of the Condominium Unit.

There is no "time limit" as to ownership of the Lancaster Condominium Units. This [Lancaster] is not a "time sharing" Condominium. However, where the "50 Year Term" is applicable is the charter of Corporations under the Corporation Code. This has nothing to do with ownership of a Condominium Unit per see. However, you must fully understand the mechanics of a Condominium Corporation, that owns and holds freehold titles to the land, of which the unit owners are automatically stockholders and members and the rights and privileges of owning a Condominium Unit covered by Condominium Certificates of Title representing ownership in fee simple of the unit.

As with any Corporation, the Lancaster Suites Manila Condominium Associations will have stockholders and members. The Stockholders and Members will comprise of each and every holder of a Condominium Certificate of Title [CCT] of a unit in the building. This is where the 60% - 40% ownership rule by Filipinos/Non-Filipinos derives and is applicable as it is the Condominium Association that owns the Land and holds "Freehold" title thereto. Each holder of a CCT is automatically a stockholder and member of the Association and has all rights and privileges as a stockholder of any corporation. He has the right to vote [according to the number of units he owns] and he is also entitled to pro-rated share of the assets of the Corporation upon it’s dissolution which can only be done by a majority 2/3rds vote. In this case the "assets" of the Corporation are Freehold Land Titles together with Titles to the "Common Areas" of the building.

Now here’s where the 50 year thing comes from…… A corporation under Philippine Law has for it’s Charter the existence in Law for a period of 50 Years. At the end of the 50 years, the then Stockholders of the Corporation [which are all CCT holding unit owners] may vote to renew the Corporate Charter for another 50 years…. Or vote to dissolve the Corporation in which case the "Assets" of the Corporation may be sold and proceeds equally divided among the stockholders on a pro-rated basis. This means that a unit owner in a building of let’s say 300 units assuming he owns one unit would get a 1/300th share of the proceeds of any sale of the assets….

For anyone interested in Condotel Investments at the Lancaster Suites, the Current Prices & Available Condotel Units are as follows...

Lancaster Suites Tower I is "SOLD OUT"

The Current selling price for basic Lancaster Suites Manila Atrium Units [Studio Type] is Pesos 64,888 or $1,298 per sqm and are 12% Tax Exempt. The One Bedroom, Two and Three Bedroom Suites will be priced at Pesos 72,675 or $1,454 per sqm including Government Taxes [R-Vat 12%].

A Fully Furnished "Ready-to-Occupy" Condotel Suite comes at an additional $336 or Pesos 16,800 per sqm. Condotel Units at Lancaster with this option applied, are fully fitted and fully furnished. Standard finishes include wooden floors for the living and sleeping areas, ceramic tiles for the kitchen and bathroom floors, painted plastered cement for the walls and painted plyboard for ceilings. Furniture’s and Fixtures for a Studio Condotel Suite will include a 3-seater sofa, lamps, either a queen size or 2 single beds, complete Kitchen cabinet system with counter and bar stools. All bathrooms will have full bathtubs, toilet, and bathroom sink and bathroom fixtures. Studio units will come equipped with a 21" color TV set, 2HP split-type Air Conditioning, 2.7 cu ft ref, water heater, Stove, a Microwave Oven, a Toaster Oven and a Rice Cooker. The unit will also include all bedroom linens, bathroom and kitchen towels, kitchen utensils as well as all china and glassware. Larger units will also come with similar basic equipment but adjusted to the size of the unit.

All payments will be made to the specific Lancaster Suites Manila Atrium Tower II Equitable PCI Bank Escrow Trust Account. It is anticipated, given the track record on sales of Tower I Units that property appreciation for initial buyers of Tower II Atrium Units will be at least 70-80% on completion and turnover of units from December 2009/2010

Executive Studio Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive Studio Suites. Average Floor Area 29.62 square meters [320sqft] at $1,298.00/sqm. USD 38,446.76 These units are either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay or the Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium. The Current Offer for a Studio Suite provides it may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 60 consecutive equal monthly payments of USD 632.45. Alternatively Save USD 2,276.80 by making the Reservation, USD 500.00 then within 30 days a 30% Net Down Discounted Payment of USD 9,107.23 and Balance payable without interest over 60 consecutive equal monthly payments of USD 442.71. Another option, Pay Cash and take a full 20% discount [Save USD 7,689.35] on unit price.... Pay 90% Now [USD 27,681.67] and the remaining 10% [USD 3,075.74] on unit turnover from December 2009...

Executive Studio DeLuxe Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive DeLuxe Studio Suites. Average Floor Area 32.96 square meters [355sqft] at $1,298.00/sqm. USD 42,782.08 These units are either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati and towards Manila Bay or Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium. The Current Offer for a Studio Suite provides that it may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 60 consecutive equal monthly payments of USD 704.70. Alternatively Save USD 2,536.92 by making the Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 10,147.70 and Balance payable without interest over 60 consecutive equal monthly payments of USD 493.30. Another option, Pay Cash and take a 20% discount [Save USD 8,556.41] on unit price.... Pay 90% Now [USD 30,803.09] remaining 10% [USD 3,422.57] on unit Turnover from December 2009

Tax Exempt Combined Studio Units ….As One Bedroom Suites

Lancaster Suites Manila Tower II Combined Studio Suites As One Bedroom Suite Two Units Combined Studio Floor Area 59.24 square meters [638sqft] at $1,298.00/sqm. USD 76,893.52. These units are overlooking Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium. The Special Initial Offer for Combined Studio Suite provides it may be purchased with a Reservation Fee USD 1,000.00 and Balance then Payable without interest in 60 consecutive equal monthly payments of USD 1,273.23. Alternatively Save USD 4,553.61 by making the Reservation, USD 1,000.00 then within 30 days a 30% Net Down Discounted Payment of USD 18,214.44 Balance payable without interest over 60 consecutive equal monthly payments of USD 885.42. Another option, Pay Cash, and take a full 20% discount on the Unit Price [Save USD 15,378.70]... Pay the 90% Now [USD 55,363.33] and remaining 10% [USD 6,151.48] on unit Turnover from December 2009

One Bedroom Corner Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive 1 Bedroom Corner Suites. Average Floor Area 59.81 sqm [645sqft] at $1,453.76/sqm. USD 86,949.39 [Including Taxes] These units are all Corner Suites either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay and the Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium. Current Special Offer for a One Bedroom Suite provides that it may be purchased with a Reservation Fee USD 500.00 and Balance Payable without interest over 60 consecutive equal monthly payments of USD 1,440.83. Alternatively Save USD 5,186.96 by making the Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 20,747.85 Balance payable without interest over 60 consecutive equal monthly payments of USD 1,008.58. Another option, Pay Cash take a 20% discount [Save USD 17,389.87] on unit price. Pay 90% Now [USD 62,603.56] and remaining 10% [USD 6,955.95] on unit Turnover from December 2009

One Bedroom "Loft Type" Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive 1 Bedroom "Loft Type" Suites. Floor Area 50.06 sqm [540sqft] at $1,453.76/sqm. USD 72,275.23 [Including Taxes] These 2-Storey ‘Loft Type’ units are overlooking the Swimming Pool Deck. All units within Lancaster Suites Manila Atrium. Current Special Offer for a One Bedroom "Loft Type" Suite provides purchases with a Reservation Fee USD 500.00 and Balance Payable without interest over 60 consecutive equal monthly payments of only USD 1,196.25. Alternatively Save USD 4,306.51 by making a Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 17,226.06 resulting Balance payable without interest over 60 consecutive equal monthly payments of USD 837.38. Another option, Pay Cash take 20% discount [Save USD 14,455.04] on unit price. Pay 90% Now [USD 52,038.16] and 10% [USD 5,782.02] on unit Turnover from December 2009

Two Bedroom "Loft Type" Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive Two Bedroom Loft Type Suites. Average Floor Area 75.69 sqm [815 sqft] $1,453.76/sqm. USD 110,035.09 [Including Tax] These units are all 2-Storey "Loft-Type" Suites either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay and the Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium. The Special Initial Offer for a Two Bedroom Suite provides that it may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 60 consecutive equal monthly payments of USD 1,825.58. Alternatively Save USD 6,572.10 by making a Reservation USD 500.00 then within 30 days a 30% Net Down Payment of USD 26,288.42 and Balance payable without interest over 60 consecutive equal monthly payments of USD 1,277.91. Another option, Pay Cash and take a full 20% discount [Save USD 22,007.02] on the unit price. Pay 90% Now [USD 79,225.27] and 10% [USD 8,802.80] on Turnover from December 2009

Three Bedroom "Loft-Type Corner Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive Three Bedroom Corner Suites. Floor Area 104.27 sqm [1,122 sqft] at $1,453.76/sqm. USD 151,583.56 [Including Taxes] These units are all "Corner Suites" either facing Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati towards Manila Bay and Swimming Pool Deck. All units are within Lancaster Suites Manila Atrium. The Current Special Offer for the Three Bedroom Suites provides purchases can be made with only USD 500.00 Reservation Balance Payable without interest over 60 consecutive equal monthly payments USD 2,518.06. Alternatively Save USD 9,065.01 by making the Reservation, USD 500.00 then within 30 days 30% Net Discounted Down Payment USD 36,260.05 and Balance payable without interest over 60 consecutive equal monthly payments USD 1,762.64. Another option, Pay Cash and take a full 20% discount [Save USD 30,316.71] Pay 90% Now [USD 109,140.16] and 10% [USD 12,126.69] on unit Turnover from December 2009

Three Bedroom Penthouse Suites Price May 1, 2006

Lancaster Suites Manila Tower II Executive Three Bedroom Penthouse Suites. Floor Area 133.96 sqm [1,445sqft] at $1,610.56/sqm. USD 215,750.62 [Including Taxes] These units are all 2-Storey Loft-Type "Corner Suites" either facing Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati towards Manila Bay and Swimming Pool Deck. Current Special Offer for Penthouse Suites provide purchases with USD 500.00 Reservation and Balance Payable without interest over 60 consecutive equal monthly payments USD 3,587.51. Alternatively Save USD 12,915.03 by making the Reservation, USD 500.00 then within 30 days 30% Net Down Payment USD 51,660.15 and Balance payable without interest over 60 consecutive equal monthly payments USD 2,511.26. Another option, Pay Cash and take a full 20% discount [Save USD 43,150.12] Pay 90% Now [USD155,340.45] and 10% [USD 17,260.05] on unit Turnover from December 2009

Please note these are average floor areas. Actual unit sizes vary from floor to floor. Please note all Unit offers on Cash Basis will be given Priority Reservation Status. Prices quoted are in US Dollars at current [fixed contract] exchange rate now Pesos 50.00/USD 1.00

All Lancaster Residential Suites Unit Features Include:

• Vitrified ceramic tiles in living, dining areas
• Ceramic tiles in kitchen and toilet and bath
• Toilets with mechanical ventilation
• Plastered cement with painted finishes
• Provisions for split type air-conditioners

For a Copy of the Lancaster Suites Slide Show Presentation kindly copy and paste the following URL into your Web Browser

http://www.kodakgallery.com/I.jsp?c...1e&x=0&y=gzpcua

For further information on Condotel Investments in the Philippines, please do not hesitate to contact the undersigned.

Beth Collingz
Director - PLC International Marketing Networks
Pacific Concord Properties, Inc., Head Office Manila
The Lancaster Suites. 2/F JTIC Building.
622 Shaw Boulevard Corner Samat St.,
Mandaluyong City. Metro Manila
Philippines 1552.
Tel: [63-2] 717 1958 [Direct Line]
Fax: [63-2] 718-1828

Pacific Concord Properties, Inc., Cebu Office
Lancaster Cebu Resort Residences
Matumbo Road. Pusok.
Lapu-Lapu City. Mactan. Cebu
Tel: 63-32] 340 0721 [Direct Line]
Fax: [63-32] 495-4938
mailto: [email protected]
Website: http://www.plcsales.coms.ph [The Lancaster Suites]
Website: http://www.lancastercebu.coms.ph [Lancaster Cebu Condotels]
Website: http://www.lancastersuites.com [Condotel Investments Forum]

August 30, 2006