- Ownership
1. Upon full payment, EGI ( Developer ) will execute a Deed of Absolute Sale to the Buyer.
2. A Condominium Certificate of Title shall be transferred to lthe Buyer , free from lien & encumbrances by the Developer.
- Closing Expenses
Buyer shall pay the cost of transfer upon full payment , approximately 4% of the price of the unit.
VAT and Capital Gains – shall be paid by Developer.
- The Condo Hotel shall be managed by a professional Hotel Management Company.
- Investor/Buyer of unit shall sign a contract with Hotel Management Company.
That unit purchased shall be included in the hotel pool for a period of 10 years. During such period, all expenses namely , dues, maintenance/repairs of unit, to include furniture and fixtures shall be regularly maintained/replaced by the Hotel Management Company.
- Guaranteed Income
Developer/Hotel Management Company shall guarantee the payment of monthly income to unit owner participating in the hotel pool. A guaranty letter shall be issued by the Developer.
Suite Unit - P10,000.00 a month or P120,000.00 a year
Superior Unit – P8,000.00 a month or P80,000.00 a year.
- Profit Sharing
In addition to the monthly income that unit owner will receive , they will also share in the profit of the hotel at the end of each year computed or on the bases of their proprietary share which is for
Suite unit’s - proprietary share is 0.5813 x Net Income
Superior unit’s - proprietary share is 0.4415 x Net Income
- Usage of Unit
Should you or family wants to stay in your unit, you will be charged for your stay less 30% of hotel rates.
You may charge/offset the payment from your accumulated guaranteed Income / or proceeds of profit sharing earned.
In case your unit is not available due to short notice, you will be accorded the same type of room in the hotel.