Boutique hotel developer eyes ‘premium affordable’ market in BGC
BOUTIQUE hotel developer Novel Residential Concepts Inc. is developing a condo-hotel close to Bonifacio Global City in Taguig, catering to the so-called premium affordable market business travelers and the meetings incentives conferencing, and exhibitions (MICE) markets. The company partnered with developer C-5 Mansions Development Corp. to develop six floors of the Ridgewood Towers Premier into what it will call Aspen Hotel. The hotel will have 186 keys of one- and two-bedroom units. All of the units will be up for sale to investors at around P3.5 million each for the one-bedroom unit and P6.8 million for a two-bedroom unit, with guaranteed interest rate of 6 percent per year.