DIAMOND BEACH RESIDENCES PALAWAN: CONDOTEL 101 | British & Far East Traders Lifestyle & Shopping Blog

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The term “condotel” isn’t a household name yet. But for starters, yes, it is a combination of a
condominium and a hotel, but there’s more to it than people realize. Little do many know that it
can become a new source of exciting opportunities for investors and those who want to try
investing. Plus, it is also very safe, unlike other investment options, as it proses a guaranteed
return-on-investment to unit owners.
Here’s your guide to how it all works and why condotels are pretty great:

UNDERSTANDING THE CONDOTEL CONCEPT

WHY CONDOTEL?

No need to worry about advertising, entertaining prospects / documentation / closing deals.

Leave it to the experts to do it for you. Just wait for the money to come in!

WHAT’S A CONDOTEL?

It’s a condominium project which operates like a hotel,

and includes its services, operations, facilities, and what not.

Owners can have their units rented out like other hotel.

WHAT IF ONE UNIT IS RENTED OUT MORE?

A unit owner will still be entitled to dividends in net room revenue

from all hotel units on per square meter basis.

WHY CITIGLOBAL CONDOTEL?

We cater to the Overseas Filipino Workers and their needs.

We charge a low property management fee,

by an experienced international hotel operator.

We also provide options to use it for vacation.

Clients purchase condotel units in the same way a condominium can be bought (note that this is not a timeshare property. You own the unit and have a complete right over it).

The great thing about condotel is that it will operate as a hotel, following its operation procedures from management to quality-assurance of facilities. Also, a well-experienced, world-class team of hotel operators will run through all of it.

Unit-owners earn by receiving their“share” of the total profit from the hotel operations.

Initial agreement between the two parties:

 On whether the unit owner desires to be a part of the operations and the specifications on the way it will be run should the unit be enrolled into the rental program.

WHY CHOOSE CONDOTELS

It is true that there is a lesser risk in putting your own money on real estate compared to the stock market. Investing in the former can also give you more profit than leaving one’s money in the bank or other ‘safe’ paper investments such as bonds and mutual funds for the latter.

The unit owner is not only entitled to the profit he/ she earned but also entitled to own a share of the value of property in instances of liquidation of the asset or wanting to transfer it on to future generations. Plus, he/ she gets to enjoy the most exciting of all: free hotel stays throughout the year.

Every part of the operations in and out of the condotel—from managing to advertising will be provided by the hotel operators themselves, hence the unit owner has nothing to worry about but to sit and wait for the returns to come in.

Financial and operational reports prepared by the operator will be given regularly to the unit owners.

HOW WILL I EARN?

The unit owner is entitled to a share of net room revenue on a per square meter basis. Thus, there is still profit received even though no one has occupied his / her specific unit. The income will be distributed as dividends, to be paid out monthly / quarterly—in cash/ check/deposit, depending on what has been agreed upon.

For example: Diamond Beach Residences earns an average of P1,000,000 / month and has a total of 1,000SQM floor area.

Unit owner Maine Mendoza owns 25SQM. How much will she earn?

1. P1,000,000 / 1,000SQM = P1,000 / SQM

2. P1,000 x 25SQM = P25,000 is how much Maine Mendoza earns / month on average

Please see a sample computation of net earnings below, for a 20.72 SQM unit.

● Operational expenses. This includes expenditure on maintenance, direct costs on utilities, insurance coverage, marketing, labor, and advertising expenses, etc.

● Management expenses. This includes the hotel management fee (more or less 30%). A hotel operator merely earns through a share of rental income and is a good way to make sure there is much effort in renting out the units. This is the NET OF OPERATIONAL EXPENSES.

WHAT IS THE ADVANTAGE OF HAVING A CONDOTEL IN PALAWAN?

World-renowned beauty

There’s no denying that Palawan is a very pretty island, if not one of the most stunning in the world. Several publications and surveys around the globe claim it, and even our local Department of Tourism (DOT) hailing it as the “best island in the Philippines.” These are just statements compared to the real thing. Palawan is one of those places that you have to see to believe the hearsays, and what more to have your own home in this paradise.

TOURISM SPOTS NEAR DIAMOND BEACH RESIDENCES PALAWAN

PUERTO BEACH RESORT

TUBBATAHA REEFS NATURAL PARK

HONDA BAY

OLANGOAN WATERFALLS

MAOYON RIVER CRUISE CRAFTING

ASTORIA WATERPARK

PEURTO PRINCESA SUBTERRANEAN RIVER NATIONAL PARK

Beautiful tourist spots

Palawan will never be as beautiful as it was if not for its tourist spots. Here, you will not only get to witness key places that are a feast to the eyes, it also won awards abroad. The Puerto Princesa Subterranean River National Park is part of the New 7 Wonders of Nature. And who wouldn’t remember the Tubbataha Reef that got two silver awards, given by the World Future Council (WFC) because of its excellence in preserving marine life.

Note that these two (and many more) are valuable not solely for its appearance, but for its contribution to nature cultivation. It isn’t surprising that they were labelled as world heritage sites by the UNESCO.

Free of pollution

Cleanliness here is heavily enforced by residents and the local government. There is a reason why tourists keep coming back to swim and gush over beautiful sights, and it has something to do with a strict ordinance. Who wouldn’t trade this over traffic smokes and car noises, right?

A very welcoming and friendly community

Like every community across the Philippines, Palawan residents are very hospitable and approachable. Make a friend, create a bigger pool of connections here. Oh, and don’t forget to smile in return!

Affordability

This is probably a surprising claim but it’s true that Palawan living is now affordable. CitiGlobal’s latest venture, the Diamond Beach Residences is set to create more meaningful and worry-free decisions. With a no down payment option for all units, you can now easily purchase a piece of this paradise. Plus, you can enjoy spending time with your families on your long list of amenities and the most exciting of all, the condotel experience.

Condotels are essentially a combination of a condominium unit with the luxurious service of a hotel. Did we say that you can also transform your unit into an income generating business? Truly, a worth it investment!

MUST VISIT ATTRACTIONS IN PALAWAN

PUERTO PRINCESA SUBTERRANEAN RIVER NATIONAL PARK

It was listed as a UNESCO World Heritage Site in 1999, and voted as a New 7 Wonders of Nature in 2012. It also became a Ramsar Wetland in 2012.

TUBBATAHA REEFS NATURAL PARK

It contains excellent examples of pristine reefs with a high diversity of marine life.

EL NIDO

It is a coastal settlement and major tourist destination. It comprises 45 islands and islets.

CORON

It is a tropical island that is best known for world-class WWII-era wreck diving.

MUST-VISIT ATTRACTIONS IN PALAWAN

CALAMIAN ISLANDS

Also known as Calamianes is a group of islands. It includes:

Busuanga Island, Culion Island, Calauit Island,

Malcapuya Island, Linapacan, Banana Island, Pass Island, Calumbuyan Island, and several minor islets.

BALABAC ISLANDS

It is a secluded & raw paradise in the farthermost & south-westernmost tip of the province of Palawan, is a group of 31 islands and islets blessed with unspoilt fine sandy beaches, endemic flora and fauna and rich marine life.

BACUIT BAY

It is considered one of the most beautiful bays in the world. Bacuit Bay is littered with 45 islands and islets, lagoons and turquoise waters, all surrounded by huge karst peaks.

LONG BEACH, SAN VICENTE

Touted by local tourism officials as the “longest beach in the Philippines”, which straddles 14 kilometers of undeveloped shoreline.

MUST EAT DISHES IN PALAWAN

TAMILOK

One of the most popular dishes is the Tamilok. Tamilok known as woodworm, it’s actually a mollusk harvested from mangrove trees.

CROCODILE SISIG

Another exotic dish you can try in Palawan is Crocodile Sisig. It’s a healthy meat due to its high protein and low-fat composition.

LATO SEAWEED

Lato seaweed, also known as sea grapes or green caviar, is a very popular dish due to its soft and succulent texture.

DANGGIT

Make sure to try the popular dish danggit lamayo. It consists of sun-dried Rabbitfishes marinated in vinegar, garlic, and pepper.

WHY A CITIGLOBAL CONDOTEL IN PALAWAN?

Because YOU CAN ENJOY…

 a longer free stay than most condotels

 hotel operations that will not dissolve after the next 15 years

 a mid-rise building, beach-front and mountainside views

 a lower management fee than usual

 a prime location

 a more reasonable price with flexible payment schemes and no down payment

 enjoy the company and approval of none other than Maine Mendoza

WHY CHOOSE DIAMOND BEACH RESIDENCES

CONDO-HOTEL OPERATION

Earn rental income as a hotel does.

Higher occupancy and daily retail rented.

A luxury one owns, without having to maintain it.

AFFORDABLE LEISURE

Flexible long-term payment options.

THE BEST LOCATION

Beach-front property located in Palawan.

Enjoy the serene ambiance that’s perfect for relaxation!

Accessible but exclusive and private.

OPPORTUNITY TO EARN PROFIT

Appreciates upto 2-3 times its price today,

earning you at least 2 Million pesos in net profit.

Re-sell at a higher level.

DIAMOND BEACH RESIDENCES AMENITIES

CABANA

LOBBY

MARINA DOCK

INFINITY POOL

BEACHFRONT

OASIS

ROOFDECK

SKYPARK

CLUBHOUSE

TOURIST SPOTS NEAR

DIAMOND BEACH RESIDENCES

IWAHIG FIREFLY WATCHING

IRAWAN ECO PARK

CROCODILE FARM

BUTTERFLY GARDEN

HONDA BAY

UGONG ROCK ADVENTURES

BINDUYAN FALLS

WATERPARK

EL NIDO

DIAMOND BEACH RESIDENCES SHOWROOM

WHAT IS THE ASSURANCE THAT MY UNIT WILL BE RENTED OUT?

The condotel operations provide a smooth income stream.

Palawan is a globally-renowned province in the Philippines, regularly visited by not just Filipinos, but foreigners as well. There will be plenty of future establishments surrounding the area, and tourist spots such as the Puerto Princesa Subterranean River National Park and Tubbataha Reef, two UNESCO heritage sites.

Another factor is that the hotel management will be in charge of the operations. They’ll have a well-thought and researched marketing and advertising initiatives which includes partnerships with booking sites, coupon deals and other promos that’ll keep people coming in, even during the lean season.

This is a property primarily constructed for business purposes and was set from the beginning to operate as a hotel. (Though having it used as a residential unit is also possible.)

WHY IS NOW THE BEST TIME TO INVEST?

Take advantage of the pre-selling rates and payment schemes

(no down payment, long-term installment). Enjoy a 200-300% increase in unit value upon full construction, should you decide to put up your unit for sale any time after turnover.

Palawan is the best place in the Philippines to live in for many reasons. Grab the opportunity now while it is still in your hands!

DIAMOND BEACH RESIDENCES

WHY PRE-SELLING?

OPPORTUNITY TO EARN PROFIT

Appreciates up to 2-3 times its price today, earning you at least P2M in net profit. Re-sell at higher value!

LONG-TERM PAYMENT OPTIONS

Up to 5 years no interest! Let your income pay the balance for you.

AFFORDABLE MONTHLY PAYMENTS

Starting only P10,990/ month.

CITIGLOBAL REALTY & DEVELOPMENT INC.

Maaasahan, Mapagkakatiwalaan

FREQUENTLY ASKED QUESTIONS

 Will the condominium dissolve in 50 years?

No, only the condominium corporation / homeowners’ association will be RENEWED every 50 years, not the structure itself. It will be up to the members of the corporation (the unit owners) to decide whether or not to maintain the building, to build a new building, or to sell the unit (and liquidate the proceeds) in the long run.

 How will we inform the hotel operator of our interest in staying in our unit?

There will be a system and conditions for informing the hotel operator in advance, which will be finalized and discussed with the unit owners before turn-over.

 Are relatives also entitled to a free stay and use of the unit?

Yes, this is possible.

 As a unit owner, can I decide to pull out of the condotel operations?

Yes, your unit may be used as a residential property and not occupied for rental operations. You may pull out, then enroll again, as well.

 How do I avail of a unit?

Purchase is the same way a regular condo unit is bought: