Tuesday, March 20, 2007

Condo Hotels: A New Type Of Philippine Real Estate Investment for Retirement and Supplemental Income

Enjoy ownership, luxury, & appreciation in a Condo Hotel vacation home!

Considering retirement in a Tropical Climate? For many British, Australians and Americans, retirement time is just around the corner. At home, with low interest rates and high cost of living, the prospect of trying to live on a pension, in old age, is a daunting one unless you are prepared to substantially downscale your lifestyle. For some, moving to retire in another country is an option which has been successful in the past with Spain, Portugal, Mexico and Puerto Rico being among some of the more popular destinations. But why not consider retiring in the Philippines?

Many Europeans and Americans who are 50-something – a point in life when many are registering peak earnings, seeing their children move into the workplace and beginning to make detailed plans for their retirement – could be in for some unwelcome surprises down the road.

Beth Collingz, International Marketing Director for PLC Global based in Manila, Philippines, said “the problem is, social security in many countries is on the verge of going bankrupt. Pension Plans are failing left and right and will continue to fail as many are glorified ‘Pyramid Schemes’ or rely solely upon the ‘never ending chain’ principal.

How did this happen? Well, back in 1983, the US Congress raised social security and Medicare taxes to create a surplus ‘trust fund’, which would ensure the stability of social security for the next 50 years. And every year since then, the Social Security Administration has collected more money than they've had to pay out. But the problem is, US elected officials haven't saved a penny of this surplus. Instead the last three US Presidents have spent every single extra social security dollar on other government programs. Now this money is most likely gone forever

“The Social Security system has no trust fund. No lockbox. When you pay your payroll taxes every year, the money is not converted into gold bars and shipped to some desert island, ready for retrieval when you turn 65. A piece of paper gets deposited in West Virginia saying that the left hand of the government owes money to the right hand of the government."

How did Congress get away with a stunt like this? Simple… demographics. For the past 70 years, we've had more people paying INTO social security than the number COLLECTING. But 76 million baby boomers will start retiring next year (about 12,000 per day). And even the Social Security Administration admits the program will soon go broke unless something radical is done.

The point is, if you are relying on social security for a large chunk of your retirement money, you could be in for an unpleasant surprise. And… even if social security is "fixed," allowing you to collect the maximum possible payout (which is $2,053 per month before taxes right now), how far is that money really going to go? Prices for everything from gas to food to clothing have soared in the past decade. Imagine what these things will cost 10 years from now.

But the good news is I believe I have found the perfect solution for most people who want to retire. If you are at or near retirement age… or if you simply want more money deposited into your bank account on a regular basis, "Supplemental Retirement Income from Condotel Investments in the Philippines " will dramatically improve your life.

Philippine Condotel Investments or Buy to Let Rental Property - a solid alternative to failing Pension Plans. Buy to Let rental properties are now being preferred to failing Pension Plans as more and more Filipinos and Overseas Property Investors look to the future and retirement.

20 Dollars a day for 6 years will buy you a Studio Condotel unit in the Philippines with a projected ROI through rentals of some 500 dollars per month after 3 years. With preconstruction property appreciating at some 20-30% per annum not only does the Real Estate Appreciation look good but the rental income is in excess of what many Pension Plans offer for the same or similar investment.

With many Overseas Filipinos and Offshore Property Investors looking to start saving for retirement, the Philippines with its comparative low cost of real estate yet high rates of Hotel Accommodations, make the Condotel investment an extremely attractive investment proposition.

Beth Collingz, International Marketing Director for PLC Global, a company specializing in Condo Hotel Sales and Investments in the Philippines for the Lancaster Brand of Condotels, said that many new investors are looking to replace failed pension plans and other future saving schemes with a solid investment in Real Estate.

“Many of my clients are looking for investments that will give them an income for retirement as an alternative to traditional private pension plans that have failed. Personally, I have always regarded Pension Plans as a glorified ‘Pyramid Scheme’. Most company pension plans are insufficient as are Government Pensions. Bank rates for Savings accounts are at record lows. Savvy investors are now looking for a more solid investment with potential for monthly income. Condotels in the Philippines fit the bill”

This potential, high rates of rental returns from Condotel Investments, currently from 8% up to 16% per annum, opens up a huge market not traditionally looked at by Real Estate Agents and Brokers whom all so often run around like headless chickens looking for normal residential profile “buyers” without looking at the by far bigger picture of investments, investing and retirement.

“We look at Condotels as pure investments. Not primarily as Real Estate. If you look at the Condo Hotel market as investing for future income, and think outside of the box, it is plain to see that Condotels are not only real estate investments but more importantly income generating property. Think of Condotels as a Managed Pension Plan. After all, Condotel units are fully managed property. The owner of the property does not have the hassle of renting out the unit and contend with all the normal pit falls of being an amateur land lord. This is taken care of by the Condo Hotel Management” said Collingz.

“One of my clients from Chicago, just purchased 4 Studio Condotel Suites at Lancaster – The Atrium Manila which is currently in preconstruction sales. His plan is to retire in the Philippines in 2012, live in one of the Suites and receive the Condotel rental income on the other three. His outlay for the purchase is only around 85 Dollars a day for 6 years by opting to purchase on a 6 year no prequalification, no down payment, no interest payment plan. Even before completing payment for the units, he will be receiving some $1,500 a month in rental income in additional to any Government or Private Company Pension Plan. Better yet, the rental income is in tune with inflation and buying on preconstruction terms gives real estate appreciation of some 60-80% over 3 years. As Hotel Rates increase yearly, so does the rental income”

Foreign Nationals are legally allowed to purchase as much as 40% of the total number of condominium units on the market at any given time. Overseas Filipinos and more and more foreigners are now emerging as a market for condotel units. Many or our clients are coming from different countries like South Korea, Australia, United Kingdom, Saudi Arabia and other parts of the Middle East," Collingz said.

Over the past decade, the Philippines has become a retirement haven for thousands of foreigners, particularly the Japanese, Korean, and Northern Europeans. Along with Thailand and Malaysia, the Philippines developed communications, infrastructure, and service delivery systems specifically geared to meet the needs of foreign retirees. Better yet, unlike most European Countries and South America, nearly everyone speaks ENGLISH in the Philippines.

The Philippines offers a significantly lower cost of living. The Philippine Peso (PhP) exchange rate is approximately PhP 50 to $ 1.00 or PhP 94 to 1 Pound [Sterling (GBP)]. Housing, food, and labor costs are quite reasonable. A One bedroom condominium can be purchased for around $ 60,000 or GBP 32,500 or a Studio for only $ 34,000 or GBP 18,000 and one can dine out on average at a three star restaurant for less than PhP 500. If you hire domestic help, a private driver’s salary is approximately PhP 10,000/month, while trained housekeepers earn approximately -PhP 5,000/month. These salaries are lower if you live in the provinces.

Cable Television, Hi-Speed Internet and Satellite Communications are cheap. One can hire an air-conditioned taxicab for eight hours for less than $25.00. In a country where a provincial Governor’s salary is only PhP 28,000 per month and a Presidential Cabinet Under-Secretary earns PhP 35,000, your pension can go a long way. So, if you have a retirement income of approximately $1,500 to $2,000 per month (PhP 80,000 to 100,000) you can live quite well in the Philippines.

As for health care, most U.S. Health Management Organizations pay for medical expenses incurred in the Philippines. Check with your HMO. The Philippine Department of Foreign Affairs presently has a task force headed by former Secretary Roberto Romulo working to have the U.S. government accredit a number of first class Philippine hospitals for Medicare reimbursement. The Makati Medical Center, one of the nation’s best already has such accreditation. Unbeknown to many is that for years, citizens of nearby countries such as Thailand, Nauru, Tonga, Indonesia, and Malaysia have flocked to the Philippines for medical care, particularly sensitive surgical procedures. The quality of medical care at the better Manila hospitals such as the Asian, St. Luke’s, Medical city, Cardinal Santos, Philippine Heart Center for Asia, National Kidney Institute, and Makati Medical Center meets international standards.

A Japanese company is building a medical facility in Tagaytay city exclusively for Japanese nationals within the year. There are now close to 10,000 Japanese retirees in the country, and the number is growing annually. The British government recently acquired a large tract of land in Fort Bonifacio to build a new Embassy. The British ambassador explained the larger facility is meant to help serve the growing number of British nationals retiring there as well. Japanese and Korean investment groups are buying homes and condominiums in Manila, and tracts of provincial land for retirees. This has caused a mini- Real Estate boom in the country. A retirement village exclusively for Japanese nationals already exists in Tagaytay, and more are planned. These are strong indicators of what is on the horizon

English is the Philippines’ official business language. Most of the people you will meet, from hotel workers, taxi drivers, sales or service people, government employees all speak English, or have a working understanding of it. The middle class speak English, without exception. All major newspapers and major broadcast companies use English. An English speaking visitor will never get lost in the Philippines. It is the universal use of that language that has been a strong incentive to foreigners. As well, communications links within the country and to other countries via the various commercial gateways is up to international standards. For example, the use of cell phones and text messaging is so common that housemaids, street vendors and food hawkers can be seen using their cell phones incessantly.

One will never want for adventure and sights to experience in the Philippines. There is always a colorful Fiesta, pageants, street festivals, and open public events going on. Lush with bountiful natural resources, one can enjoy the numerous beaches, resorts, golf courses, and play just about any sport, except skiing. There is an ice skating rink in Manila, though. Scuba diving and fishing are among the sports which draw the most number of foreigners to the rich aquatic offerings.

Shopping is the Filipinos’ second most popular activity, the first is eating. Manila is Asia’s undiscovered shopping Mecca. You will love the golden purple sunsets, the fragrance of the flowers at dusk, and the wonderful array of fruit and food. I used to enjoy watching the Sun set from the bar at the Philippine Cultural Center. There, you can listen to the Symphony, check out a play, or enjoy Grand Opera. There is just so much to explore and discover, especially in terms of nature, culture, and history. If you’re a betting man, there’s horse racing, the Jai Alai, numerous first class casinos, and of course, cock-fighting. Manila is well known for its exciting night life.

The Philippines offers affordable real estate and good investment opportunities for those seeking a retirement haven.

“Where can you find a 350 sqft Freehold Flat in the heart of Central London for only 25,000 Pounds and then get up to 18% per annum ROI from rental returns UK Tax Free” enthuses Collingz. “These figures probably seem Crazy to London Property Buyers unless they remember the prices of Flats and Apartments back in the late 70’s” and all of this comes complete with average 85 degree temperatures and sunshine nearly all year round” said Beth Collingz whom used to live in South Kensington and still owns several Chelsea Embankment Townhouses and St. Catherine’s Dock Flats before coming over to the Philippines

If you have $50,000 or GBP 30,000 to invest, here are some buys you could make right now with that budget:

1. A Freehold Unfurnished Studio Suite at the Lancaster Atrium Manila for Initial Property Appreciation Investment and Rental Income from 2010 in Metro Manila, Philippines. Floor Area 28.17 square meter [304sqft]. Pay Cash and take a full 20% discount [Save USD 9,098.91] on the unit price. Pay 90% Now [USD 32,765.07] and the remaining 10% [USD 3,639.57] on unit turnover

2. A Freehold Fully Furnished Studio Condotel Suite at the Lancaster Suites Manila for Rental Income from 2007 in Metro Manila, Philippines. Floor Area of 27.23 square meters [293sqft]. Pay Cash and take a 10% discount on the Contract Price. Save USD 4,686.28 Pay 90% of the contract price now [USD 37,958.90] plus cost of all furnitures and furnishings [USD 8,589.67] for a total of USD 46,548.57 and the remaining 10% balance [USD 4,217.65] on unit turnover. Occupancy July 2007.

3. A Freehold Fully Furnished Studio Condotel Suite at the Lancaster Cebu Resort Residences for rental income from 2007 in Cebu, Philippines. Floor Area 36.5625sqm [395sqft]. Pay Cash and take a full 10% discount [Save USD 5,860.96] Pay Reservation [USD 2,000.00] and Cash Balance within 30 days [USD 50,748.72] for an Effective Total Cash Price of USD 52,748.72. Occupancy May 2007.

Pacific Concord Properties, Inc., Flagship Lancaster Atrium Suites Condotel [Manila] development located along Shaw Boulevard, Mandaluyong City, Metro Manila, is one of the hottest Condotel Investments in the Philippines where property investors, apart from real estate appreciation initially reckoned to be 100% for early investors, will get projected Rental Incomes on their units of up to 16% per annum once fully operational from 2010

To be called Lancaster Atrium [which is the second Tower adjacent to the existing “Sold Out” Tower I] Condotel Studios, One, Two & Three Bedroom Suites are currently available to Property Investors adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with 6 year interest free payment terms or up to 12 year no prequalification “In-House” financing [available to all overseas buyers], full condo ownership, no management costs for Condotel Suites and minimum monthly maintenance fees, as buyers or sellers of Real Estate you really should take a moment to look at this Philippine Condotel Investment Opportunity

According to Beth Collingz, of PLC International Marketing Networks, a Lead Marketing Partner with Pacific Concord Properties Inc., whom have Condotel developments in Metro Manila and Cebu, and specializes in working with international clients: “My phone has been very busy with buyers from the UK, Scotland and Australia interested in purchasing investment properties and holiday homes here.

A lot of this interest is being driven by the relatively cheap market prices in the Philippines compared to Europe, specially UK Housing prices, and the easy payment options available for our Condotel Developments, but there are other factors, too. Offshore Property Investors, Foreign baby boomers as well as overseas Filipinos, are looking for ways to maximize their return on investments as they approach retirement, and so are purchasing second homes, particularly Condotel Investments where they can use the Condo for vacations and rent it out through our In-House Condotel Management when they are not using the unit thereby gaining rental incomes that on today’s purchase prices, give a projected ROI on their investments of some 12-16% depending upon the mode of payment for the unit”

More than 85% of all Condotel sales in Metro Manila were to international clients. While such a level of foreign-purchasing activity is not as high in the Philippines provinces, Cebu in particular, has seen a sharp increase in real estate purchases by international buyers in the past several years.

“These international buyers know it’s a buyer’s market in the Philippines right now-there are a lot of properties available and fewer local buyers,” Collingz said. “I’m working with clients who are purchasing their second property with me. We also have referrals from many of our prior customers and new clients who have found us through our Web sites, lancastersuites.com and plcglobalpinoy.com which include a special section for international buyers”

While Metro Manila is still a popular choice with international buyers, Collingz says clients tell her that it makes more sense to buy in a year-round vacation destination. The Lancaster Cebu Resort Residences Condotel development by Pacific Concord Properties located in Mactan, Cebu - the area around Cebu International Airport - fits the bill with all it offers to International buyers.

Accessibility from Europe & the United States is also a factor.

“London to Qatar, London to Amsterdam to Singapore or Hong Kong, Los Angeles to Tokyo, San Francisco and New York to Hong Kong direct flights to Cebu and Manila, for example, average just 16 hours, add to that the many airline specials from Qatar Airlines whom probably offer the cheapest air fares, that fly directly into Cebu and Manila, and it’s easy to see why the Philippines is becoming an international community.”

Unlike other offshore rental properties, where the rental market is largely seasonal, in the Philippines there is a strong market for rental properties year round. This gives buyers greater flexibility in choosing when to use and when to rent their property. The strong rental/second home market also has resulted in a proliferation of professional property managers and rental agents, making property ownership and rental easy. Pacific Concord Properties Inc with its flagship Lancaster Condotel Developments fit’s the bill.

Financing Options and Security open up Philippine real estate market to International buyers.

Previously a stumbling block for some international buyers was the perception that it is difficult -if not impossible - to obtain financing in the Philippines. As a result, many purchases in the past were cash sales.

Pacific Concord Properties recently introduced the new affordable easy payment plans for the Lancaster Atrium Manila Condotel Suites where a Studio Unit can be purchased without any down payment, and 67% of the contract price payable over 60 months interest free and the 33% balance payable on turnover of the unit or to be extended for another 60 months through PCPI’s no prequalification no hassle finance plan, sales of the companies inventory of units will surely sell out quickly to investors seeking to take advantage of the Condotel Investment “Boom” in the Philippines.

A major stumbling block for some Investors was the perception that purchasing property in the Philippines was risky with nightmare stories of fraud and deception abounding due to the lack of Professional Realtors and Internationally accepted principles’ of Real Estate Transactions.

With Pacific Concord Properties Inc adopting International Property Standards and the only Philippine Real Estate Developer to operate the internationally accepted practice of Escrow Trust Account Banking for all payments made by buyers of its Condotel Suites, international offshore property investors need no longer worry about the security of their investments

Buyers of Condotel units at the Lancaster Suites Manila, Lancaster Atrium Manila and Lancaster Cebu Resort Residences in Cebu, pay their Reservations, down payments and all monthly payments directly to the Companies Trust Account with the Bank thereby ensuring that funds are maintained and ultimately used only for the purpose of direct construction related costs. This not only guarantees that the buyers money is safe, but more importantly the development will be completed on schedule and within projected time frames for the project.

Collingz highlights the importance of working with those experienced in this type of transaction. “Buying property in the Philippines is significantly different from buying in the UK and other European countries, for example,” said Collingz. “The purchase process is more direct, with less stress and more accountability; and we work directly with the buyer or collaboratively with the client’s agent or representatives. Our goal-and that of Pacific Concord Properties Inc - is to make the whole process as easy as possible. Prospective buyers can view properties online on our Web site and save listings they’re interested in an online portfolio”

Communication is the key to the process, according to Collingz. “We spend a lot of time communicating with buyers before they visit, so that we all have a clear picture of the type of property that’s right for them. We also make travel arrangements and hotel accommodations and provide them with information in advance of their visit so they understand the process and their options. That way they can make the best use of their time here-and we can ensure they have time to get to know and enjoy the area.” In many cases, buyers arrive for a three to five-day visit and sign a sales agreement before heading home.

Lancaster - The Atrium Tower II [which is the second Tower adjacent to the existing “Sold Out” Tower I] is now accepting Reservations for Studio, One, Two & Three Bedroom Suites adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with 6 year interest free payment terms or up to 12 year "In-House" financing available, full condo ownership, no management costs for Condotel Suites and minimum monthly maintenance fees – “You really should take a moment to look at this Philippine Condotel Investment Opportunity” enthused Collingz.

All units at the Lancaster Suites have kitchen facilities. The standard unit price provides for the suite to be finished but not fully furnished. Included in the current price are the interior finishing’s such as tiled & fitted bathrooms, bedrooms with simulated wood plank flooring, living and dining area tiled floorings and lower kitchen cabinets/work tops installed. A complete optional extra interior fit-out package including appliances will be available towards the time the units are closer to being completed towards the latter part of 2009. Monthly condo dues are currently around 80 pesos/square meter of the unit floor area/month..

Executive Studio Suites
Price: March 1, 2007

Lancaster Suites Manila Atrium Tower II Executive Studio Suites. Average Floor Area 28.17 square meter [304sqft] at $1,615.00/sqm. USD 45,494.55. 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 Price for a Studio Suite provides it may be purchased with a Reservation Fee USD 500.00 and the Balance then Payable without interest over 72 consecutive equal monthly payments of USD 624.92.

Alternatively Save USD 2,699.67 by making the Reservation, USD 500.00 then within 30 days a 30% Net Discounted Down Payment of USD 10,798.70 and Balance payable without interest over 72 consecutive equal monthly payments of USD 437.45.

The Lancaster Atrium Executive Studio Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 28.17 sqm [304 sqft Executive Studio [Contract Price USD 45,494.55] then 60 consecutive monthly payments of only USD 502.44 with the balance of USD 14,848.20 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 9,098.91] on the unit price.... Pay 90% Now [USD 32,756.08] and the remaining 10% [USD 3,639.56] on unit turnover from December 2009/2010

Executive Studio DeLuxe Suites
Price: March 1, 2007

Lancaster Suites Manila Atrium Tower A Executive DeLuxe Studio Suites. Average Floor Area 32.50 square meters [350sqft] at $1,615.00/sqm. USD 52,487.50. 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 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 72 consecutive equal monthly payments of USD 722.05. Alternatively Save USD 3,119.25 by making the Reservation, USD 500.00 then within 30 days a 30% Net Discounted Down Payment of USD 12,477.00 and Balance payable without interest over 72 consecutive equal monthly payments of USD 505.43.

The Lancaster Atrium Executive DeLuxe Studio Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 32.50sqm [350sqft Executive Studio [Contract Price USD 52,487.50] then 60 consecutive monthly payments of only USD 580.53 with the balance of USD 17,155.88 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 10,497.50] on the unit price.... Pay 90% Now [USD 37,791.00] and the remaining 10% [USD 4,100.00] on unit turnover from December 2009/2010

One Bedroom “Loft Type” Suites
Price: March 1, 2007

Lancaster Suites Manila Atrium Tower A Executive 1 Bedroom "Loft Type" Suites. Floor Area 50.69 sqm [546 sqft] at $1,808.80/sqm. USD 91,688.07 [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 72 consecutive equal monthly payments of only USD 1,266.50. Alternatively Save USD 5,471.28 by making a Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 21,885.14 resulting Balance payable without interest over 72 consecutive equal monthly payments of USD 886.55.

The Lancaster Atrium One Bedroom "loft Type" Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 50.69 sqm [546 sqft One Bedroom "Loft Type" Suite [Contract Price USD 91,688.07] then 60 consecutive monthly payments of USD 1,018.27 with the balance of USD 30,092.06 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 18,337.61] on the unit price.... Pay 90% Now [USD 66,015.41] and the remaining 10% [USD 7,335.04] on unit turnover from December 2009/2010

One Bedroom Corner Suites
Price: March 1, 2007

Lancaster Suites Manila Atrium Tower A One Bedroom Corner Suites Average Floor Area 62.82 square meters [675 sqft] at $1,808.80/sqm. USD 113,628.32 [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 72 consecutive equal monthly payments of USD 1,571.23. Alternatively Save USD 6,787.69 by making the Reservation, USD 500.00 then within 30 days a 30% Net Down Payment of USD 27,150.92 Balance payable without interest over 72 consecutive equal monthly payments of USD 1,099.86.

The Lancaster Atrium One Bedroom Corner Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 62.82 sqm [675 sqft One Bedroom Suite [Contract Price USD 113,628.32] then 60 consecutive monthly payments of only USD 1,263.27 with the balance of USD 37,332.51 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 22,725.66] on the unit price.... Pay 90% Now [USD 81,812.40] and the remaining 10% [USD 9,090.27] on unit turnover from December 2009

Two Bedroom Loft Type Suites
Price: March 1, 2007

Lancaster Suites Manila Atrium Tower A Executive Two Bedroom Loft Type Suites. Floor Area 75.67 square meters [815sqft] at $1,700.16/sqm. USD 136,871.90 [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 Lancaster Suites Manila Atrium. The Special 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 72 consecutive equal monthly payments of USD 1,894.05. Alternatively Save USD 8,182.31 by making a Reservation USD 500.00 then within 30 days a 30% Net Down Payment of USD 32,729.26 and Balance payable without interest over 72 consecutive equal monthly payments of USD 1,325.84.

The Lancaster Atrium Two Bedroom 'Loft Type" Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 75.67 sqm [815 sqft] Two Bedroom "Loft Type" Suite [Contract Price USD 136,871.90] then 60 equal consecutive monthly payments of only USD 1,522.82 with the balance of USD 45,002.73 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 27,374.38] on the unit price.... Pay 90% Now [USD 98,547.77] and the remaining 10% [USD 10,949.76] on unit turnover from December 2009/2010

Three Bedroom “Loft-Type Corner Suites
Price: March 1, 2007

Lancaster Atrium Tower A Executive Three Bedroom Loft Type Suites. Average Floor Area 106.00 square meters [1140sqft] at $1,808.80/sqm. USD 191,732.80 [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 72 consecutive equal monthly payments USD 2,656.01. Alternatively Save USD 11,473.96 by making the Reservation, USD 500.00 then within 30 days 30% Net Discounted Down Payment of USD 45,895.87 and Balance payable without interest over 72 consecutive equal monthly payments USD 1,859.21.

The Lancaster Atrium Three Bedroom Corner Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 106.00 sqm [1140 sqft Three Bedroom Suite [Contract Price USD 191,732.80] then 60 consecutive monthly payments of only USD 2,135.43 with the balance of USD 63,106.82 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 38,346.56] on the unit price.... Pay 90% Now [USD 138,047.61] and the remaining 10% [USD 15,338.63] on unit turnover from December 2009/2010

Three Bedroom Bi-Level Penthouse Suites
Price: March 1, 2007

Lancaster Atrium Tower A Executive Three Bedroom Penthouse Suites. Floor Area 136.30 square meters [1467 sqft] at $1,975.68/sqm. Contract Price USD 269,285.18 [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. Current Special Offer for Penthouse Suites provide purchases with USD 500.00 Reservation and Balance Payable without interest over 72 consecutive equal monthly payments USD 3,733.13. Alternatively Save USD 16,127.11 by making the Reservation, USD 500.00 then within 30 days 30% Net Down Payment of USD 64,508.44 and Balance payable without interest over 72 consecutive equal monthly payments USD 2,613.19.

The Lancaster Atrium Penthouse Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only USD 500.00 Reservation for a 136.30 sqm [1467 sqft One Bedroom Suite [Contract Price USD 269,285.18] then 60 consecutive monthly payments of only USD 3,001.43 with the balance of USD 88,699.11 either payable in cash on turnover or to be financed over another 60 months payment plan.....

Cash Payment option, take a full 20% discount [Save USD 53,857.03] on the unit price.... Pay 90% Now [USD 193,885.33] and the remaining 10% [USD 21,542.82] on unit turnover from December 2009

Lancaster Atrium Manila Tower A. Shaw Boulevard, Metro Manila.
Available Shop & Retail Store Units Update March 1, 2007

The Lancaster Atrium Shop/Store Retail Units are now available on the very affordable and competitive New Payment Plan that provides for Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans...

All payments will be made to the Lancaster Suites Manila Atrium Tower A 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 A Atrium Units will be at least 60-70% on turnover of units.

Available Lancaster Mall Shops, Restaurants & Store Units

Lancaster Atrium Tower A Shops, Restaurants & Store Units. Floor Area 45.11 sqm [485sqft] at $2,037.28/sqm. USD 91,901.70 [Including Taxes] These units are all within the Lancaster Shopping Mall located on the Lower & Upper Ground Floors of the Podium. Current Special Offer for the example 45.11sqm Lower Ground Floor Shops, Restaurants and Store units provide purchases with USD 1,000.00 Reservation and Balance Payable without interest over 72 consecutive equal monthly payments USD 1,262.52. Alternatively Save USD 5,454.10 by making the Reservation, USD 1,000.00 then within 30 days 30% Net Down Payment USD 21,816.40 and Balance payable without interest over 72 consecutive equal monthly payments USD 883.77. Another option, Pay Cash and take a full 20% discount [Save USD 18,380.34] Pay 90% Now [USD 66,169.22] and 10% [USD 7,352.14] on unit Turnover from December 2009/2010

Please note these are average floor areas. Actual unit sizes vary from floor to floor. 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 47.00/USD 1.00 [Effective March 1, 2007]

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 walls and ceilings’ with painted finishes
* Provisions for split type air-conditioners

For a Copy of the Lancaster Suites Slide Show Presentation...
Copy and paste the following URL directly into your Web Browser
http://www.lancastersuites.com/lancastersuites-gallery/index.php

For further info please do not hesitate to contact us:

Beth Collingz
PLC International Marketing Networks
Pacific Concord Properties Inc., Manila Head Office
Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines
Phone: Manila [632] 717 1958
Fax: Manila [632] 718 1828

Pacific Concord Properties Inc., Cebu Office
Lapu-Lapu City, Mactan. Cebu. Philippines
Phone: Cebu [6332] 340 0721
Fax: [6332] 495 4938
EMail: plcsales@pldtdsl.net
Web: http://www.lancastersuites.com [Lancaster Condotels]

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