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Old July 25th, 2006, 11:29 AM   #1
grace ganzon
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E Ganzon Inc to build CondoHotel in Cebu

Tuesday, July 25, 2006
EGI to build 12-storey condo hotel, addresses room shortage problem Cebu,Philippines

A 12-storey condominium hotel will soon rise in Lapu-Lapu City, Cebu in “response” to the need for more hotels in Cebu, Philippines to accommodate the influx of tourists.

The proposed E. Ganzon Inc. (EGI) Cebu Mactan Condominium Hotel will be constructed as an expansion to the EGI City by the Sea Resort and Hotel. The condo hotel will be located within EGI’s four-hectare property in Lapu-Lapu City, Cebu.

“The local government of Cebu and the Department of Tourism have been on an intense marketing blitz promoting Cebu as a vacation destination in the Philippines. The influx of tourists, mainly from neighboring Asian countries, created a demand for more accommodation,” a statement said.

Completion

The construction of the condominium hotel, stated April 30,2006, is expected to be completed within 18 months.

The condo hotel will be a new addition to resorts in Mactan Island, which include the Shangri-la’s Mactan Island Resort and Spa, Hilton Cebu and Plantation Bay.

Grace Ganzon, President of All Estate Realty ,exclusive sales and marketing of EGI Cebu Condo Hotel,said the 170-room condominium hotel will cater to both foreign and local clients.

The Cebu Mactan Condominium Hotel, which will rise on a 1,844-square-meter land area, will operate as a full service condominium hotel giving unit owners the benefits and privileges of a full hotel service like room service, free use of swimming pool, restaurants, shuttle service, among others.

Investment

“Purchasing a condo unit at the new EGI Cebu Mactan Condominium Hotel is an investment opportunity offered to those who would like to acquire a unit as a vacation home or to prospective buyers and investors who would probably only occupy the units for just a couple of weeks in a year,” the EGI statement said.

Owners of EGI Cebu Mactan Condominium Hotel units, who include their condos in EGI’s pool of hotel rooms, do not have to pay maintenance charges when they are not occupying the property. This is because EGI hotel management will manage and operate the units like any room in a hotel.

“You’ll earn a fixed guaranteed rental income every month and at the end of each year and share the profits of the hotel operation, making ownership of the condominium unit an income generating (venture).” The EGI webpage is www.egicebuinvestmenthotel.com


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Old July 25th, 2006, 11:42 AM   #2
LordCarnal
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Thanks for the post Grace..

Please update us also -- together with some pictures -- if possible at the CEBU THREAD..

Just go to the Philippines Subforum
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