- Category: Properties
26 Mar 2013
STA. LUCIA LAND fortifies its stronghold in Cebu with the condotel Arterra Residences at Discovery Bay, a condotel project situated at the tip of the Maribago coastline on Mactan Island in Cebu.
Under Sta. Lucia’s condotel concept, unit owners get to vacation free anytime, with 30 complimentary room nights per year, transferrable, across all Sta. Lucia hotels and condotels in the Philippines. Sta. Lucia condotel projects that are already operational include Sotogrande and La Mirada in Mactan, Cebu; Splendido in Tagaytay City; and La Breza in Quezon City. Sta. Lucia Land has pioneered condotel development in the country in response to the government’s thrust to promote the Philippines as a top tourist destination and a business-friendly environment, and has more condotel projects lined up in Davao City, Fairview and Katipunan Avenue in Quezon City, Iloilo City and Cainta.
Arterra Residences is a 20-story structure nestled on the same strip as Cebu’s most popular five-star hotels. It is just a 20-minute drive from the airport and offers a panoramic view of the Maribago coast. Unit owners and renters will get to enjoy country-club privileges with Arterra’s members-only North Point Peninsula and Resort Club. The country club features a wide selection of amenities for leisure and recreation, including a lap pool, kiddie pool, jacuzzi area, poolside bar, spa, gym, basketball court, coffee lounge and restaurant, a viewing deck, function rooms and a business center.
Arterra Residences’ condotel units will be placed under the management’s hassle-free rental program initially for 15 years. Experienced hotel managers and staff will operate and manage the condotel and take care of maintenance as well as taxes, eliminating the traditional lessor-lessee issues.
The Sta. Lucia’s Property Management Group has also tied up with popular booking sites Agoda.com, Booking.com, Expedia.com, Orbitz.com, Asiaroom.com and Hotels.com, assuring unit owners of steady income through rental revenues within the contract period, with a high return on investment.
Currently, Sta. Lucia condotel projects earn an internal rate of return of at least 8 percent or $570 per month, and annualized growth rate of 7 percent on their investment. Rent revenue is paid out to unit owners in quarterly dividends.
Arterra Residences at Discovery Bay is Sta. Lucia Land Inc.’s latest development in Mactan, Cebu.