One of the many options that OFWs could freely invest in with good returns in the long run is real estate. Nowadays, apart from getting a house and lot or a condo, participating in funding hotels and its rooms are increasingly becoming an attractive option among OFWs who could benefit from free stays and profit sharing at their preferred hotel.
Hotel 101, for instance, will soon witness the rise of its Cebu mid-rise located at the Airport Road at Lapu-Lapu City. This chain of hotels is owned, and master planned by DoubleDragon Corporation, known as one of the leading property companies in the Philippines.
Tony Tan Caktiong, founder of Jollibee, and Edgar “Injap” J. Sia II, founder of Mang Inasal will be completing 1.2 million square meters of leasable space by 2022, and are now giving Filipinos, especially OFWs, the chance to invest in their latest venture under Hotel of Asia, Inc. a subsidiary of DoubleDragon Corp.
The hotel will rise at an area spanning 5,493 sq m and will offer a total of 548 rooms. Amenities that owners will enjoy includes Function Halls, Business Centers, Restaurant, Rooftop Bar, Spa, Gym, Swimming Pool and 192 parking spaces.
Each room that OFWs will soon own will be called a ‘Happy Room’ – a cozy space of 21 sq. m. that has been customized to fit all their needs at home. Each unit will be fully fitted out, with natural lighting and ventilation, a kitchenette with a microwave, and maximized ceiling heights.
How do I invest?
During the pre-selling phase of Hotel 101 – Cebu Mactan Airport, an introductory promotion is being offered for a limited time, each unit cost Php 5.250M with P200K off until December 31, 2021, and there are four payment options available.
The partnership between each unit owner and Hotel 101 Management will split the revenue share 70-30. Unit owners will get 30% of Gross Room Revenue excluding taxes and will get a condominium title for their unit. They will also get 10 free stay vouchers annually and will have to shoulder real property tax. The management, for its part, will get 70% of Gross Room Revenue excluding taxes, but will shoulder the rest of the expenses. These include unit renovations, hotel operating expenses, unit repairs, maintenance and other miscellaneous expenses.
Interested OFWs who wish to invest or those who wish to learn more about this project can contact DoubleDragon at [email protected]
The target completion date of this project is slated by December 31, 2022.
