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Developments in condotels pushed to boost tourism


[ Manila Bulletin Online ] February 19, 2009

By MALOU M. MOZO

CEBU CITY – More developments in condominiums and condominium-hotels (condotels) are expected to boost Cebu as a magnet for investing tourists, a property developer here said.

"There are three main components that make Cebu a second home for foreigners – more condominiums, lifestyle and leisure amenities, and world class health services," said Jose Ma. Gianzon, Fuente Triangle Realty Development Corp. (FTRDC) vice president for sales and marketing.

Gianzon underscored a bullish market for condominiums and condotels in Cebu, as evident by an upsurge of these properties in Metro Cebu and nearby Mactan Island.

FTRDC, a subsidiary of J. King and Sons Company, Inc., is the developer of Club Ultima, Ultima Residences, and the Crown Regency chain of hotels and condotels in Cebu and Boracay.

In an interview Tuesday, Gianzon bared FTRDC has approximately 340 condotel units in their Cebu and Boracay properties still available for sale to potential foreign buyers.

"Condotels are not sleeping investments. There are two ways to profit – once the value of the property goes up faster and from the actual earnings from the hotel’s operations," he explained.

To intensify marketing promotions to foreign clienteles, FTRDC has chosen to partner with the Philippine Retirement Agency, and with the "Live Your Dream" campaign of the Department of Tourism (DoT).

The DoT, through its marketing arm, the Philippine Convention and Visitors Corp., launched the "Live Your Dreams" campaign to actively promote the Philippine not just as a transitory destination for sightseeing and recreation, but also as a permanent second home to foreign investors.

"It would be easier to market the Philippines as a second home if we have all the necessary infrastructure, like condotels, condominiums, and hospitals. It has to be a complete package," Gianzon said.

In terms of healthcare services, Gianzon noted of the popularity of hospital-hotels (hospitels) worldwide, providing patients with quality medical treatment within a hotel environment.

At Club Ultima in Fuente Osmeña, this city, Gianzon said three floors are being allocated for regeneration suites or post-operation stress recovery rooms.

"The hospital concept is growing and we intend to get a chunk of this market," he said, adding that this value service is FTRDC’s contribution to the country’s medical tourism industry.

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