Published on Thursday, 29 August 2013 00:00
Malaya Business News Online -
Philippine Business News | Online News Philippines
Major Homes’ Space condormitels located in various key
areas in Metro Manila promise to completely redefine and raise the known
benchmarks on Philippine property investment.
With a total of three projects
presently included in the Space condormitel series, these developments will
employ the so-called “sachet business model” that will allow future owners to
rent our units on a per bed basis.
This will give the Space projects a
strong rental component that could guarantee good returns, the company believes.
Rising 28-storeys each, Space San
Marcelino, Space Romualdez and Space Taft condormitels are combinations of
condominium and dormitory units that will be operated as a hotel.
Each property will be built in
proximity to various educational institutions, commercial establishments,
hospitals, government agencies and other places of interest.
“Space is a condormitel concept. It’s
a condominium, dormitory and hotel that operates as one. It is a real estate
asset for it is fully secured with a Condominium Certificate Title (CCT), can
be leased out like a dormitory, and with a service comparable to a hotel,”
said Jose Francisco Oreta V, president of Major Homes.
Each of the units will be fully
furnished with a minimum of three beds and study desks, thus giving unit owners
the freedom to have their own spaces rented out on a “per bed” and not “per
unit” basis, as well as greater chances to earn better profit. Unit cuts at the
Space range from 15 square meters to 19 sqm.
According to Oreta, Space condormitels
will particularly cater to students, BPO workers and transient residents
seeking an upgrade from the typical bed space setting by giving them access to
hotel like service, amenities and facilities.
“It’s a win-win situation for both
investors and end-users. Through the condormitel, we are able to create for
investors a profitable investment model for end-users, Space represents an
upgrade from typical dormitory experience,” Oreta said.
“Compared to other investments which
are prone to theft and maintenance issues, Space condormitels will be managed
for you and you will just wait for the returns. Also, unlike other condominium
units that often stay idle, units at Space can give owners the chance to earn
real profit by turning them into passive income generating investment by
renting it out on a per bed basis,” Oreta added.
“An investor purchasing a
three-bedroom unit at a little over P1 million and can have it leased out at
the rate of P4, 000 per bed. With its profit earning possibilities, a Space unit
owner can maximize his yield on rentals, receiving as much as 8 percent on
return on investments, not to mention the asset value appreciation,” he noted.
Future tenants of Space can meanwhile
enjoy hotel-like amenities such as air-conditioned lobby, large garden, lounge
benches and a sky garden.
The condormitel is likewise equipped
with fire and smoke detection system, water reservoir, standby emergency power,
security card key, centralized garbage collection, high-speed elevator, CCTV,
study hall, retail outlets- all of which would help ensure a convenient and
secure living experience.
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