Archive for October, 2009

Lancaster Cebu Airport Transit Condo Hotel rates announced

Available immediately, Lancaster Cebu Condotel is offering accommodation on a minimum stay of four hours at the rate of Pesos: 799.00 [USD 16.00] or six hours at the rate of Pesos: 1,080.00 [USD 22.00] An additional hour will be charged at Pesos: 200.00 [USD 4.00] per hour up to a maximum of eight hours per stay. Check-in and shuttle bus to the hotel is available 24 hours a day.

Beth Collingz, overseas sales director PLC International and lead marketing partners for the Lancaster brand of Condo Hotels in the Philippines said “We are constantly looking for ways to improve our products and services to provide more options for our guests. We realize how tiring and stressful travelling can be, especially with long transit hours.

The hotel is now ready to escalate our service beyond any regular mid-scale hotel and exhibit what an airport hotel really is. Our guests can be assured that they will continue to receive the same level of services regardless of the length of their stay”

Lancaster Cebu Condo Hotel, located a mere 3 minutes from Mactan-Cebu International Airport, services domestic flights from most major cities within the Philippines including Philippine Airlines, PAL Express, Cebu Pacific, Zest Air and Air Philippines to and from Manila, Clark-Angeles City, Legaspi City, Bacolod, Iloilo, Roxas City, Tacloban, Siargao, Kalibo, Cagayan D’Oro City, Surigao, Butuan, Cotobato, Davao City, General Santos, Ozamis City, Zamboanga City and Philippine Airlines, Cathay Pacific, Asiana Airlines, Malaysian Airlines, Singapore Airlines, Korean Airlines, Qatar Airlines and Silkair international flights to and from Amsterdam, Frankfurt, Bangkok, Macau, Singapore, Jakarta, Hong Kong, Tokyo, Kota Kinabalu, Seoul, Pusan and Doha, Qatar. Philippine Airlines will soon commence direct San Francisco – Cebu flights. There are also chartered flights from Inchon, Taipei, Kansai, Nagoya and Kaohsiung that arrive on a regular basis. Read more…

Understanding Foreclosures

How often have you heard that foreclosed properties are cheaper? In reality it is a misconception and many house buyers could get captured in the vicious catch.

Foreclosure is the procedure that allows lender or the lien holder to recover the money owed on a defaulted loan.

Generally they take the repossession and sell the real estate property to secure the loan.

The process of foreclosure is initiated when the borrower defaults in making the accrued loan payment or defaults conditions of mortgage.

The lender can get a court order for termination of mortgage by filing Notice of Default.

Ending Foreclosure Process

Foreclosure process can end in one of the following ways: Read more…

Philippine Property Show in Abu Dhabi features prime Philippine Real Estate Properties

Philippine Property Show currently showcases Philippines best Real Estate Properties, The Real Estate Show will run from October 2-3 at the Abu Dhabi Chamber of Commerce and Industry conference hall.

The real estate show showcases various condominiums and house and lot projects by top property developers in the Philippines, including Megaworld, SM Development Corporation, AboitizLand, AyalaLand, Alveo, Avida and Hamilo Coast.

Fully Furnished residential condominiums are also being showcased like the Grass Residence at SM North Edsa, Sea Residence at the Mall of Asia Complex, Morgan Suites and Venice at Mckinley Hilll Village in Bonifacio Global City (Fort Bonifacio) and Suntrust Parkview in Central Manila.

Last years real estate show was held in Dubai in September last year along with a series of informative seminars which was conducted by Philippine property experts and representatives of major real estate developers.

Philippine Peso touches 46 level vs. US dollar

The peso strengthened against the US dollar Friday and touched the 46 level on reports of positive growth forecast of International Monetary Fund (IMF) for the Philippines this year and some bleak US economic data.

The unit improved by P0.15 after it closed at 47.1 against the US currency from Thursday’s 47.05 closing. This after it reached a high of P46.99 by mid-trade amid its weakest trading level of 47.21 during the day.

This brought the day’s average to 47.06 from day-ago’s 47.14. Total volume of trace reached P695.5 million, lower than the P1.1 billion Thursday. Traders said investors noted that reversal in the IMF 2009 growth forecast for the country.

IMF on Thursday announced that it now projects the domestic economy to growth by one percent this year from its earlier projection of a one percent contraction due primarily to the continued resiliency of remittances from overseas Filipinos.

Traders also said the expected increase of unemployment rate in the US is a disadvantage to the US currency.

The US Labor Department is set to release its September 2009 unemployment data Friday and analysts expects it to reach 10 percent, which has not happened since June 1983.

Traders project the local unit to register its high end at 47.50 next week.

Philippines registered an improvement in its International Investment Position

The Philippines registered an improvement in its International Investment Position (IIP) in end-2008 amid the risk aversion due to the global slowdown.

Initial Bangko Sentral ng Pilipinas (BSP) data show that the country’s IIP at the end of last year stood at net liability of US$ 26.9 billion, better than the previous year’s net liability position of US$ 28.5 billion.

“This came about as the decline in total external financial liabilities compensated for the slight drop in total external financial assets,” BSP said in a report.

BSP said the country’s total external financial assets from the rest of the world totaled to US$ 65.1 billion as of end-December 2008, an improvement of 2.6 percent compared to year-ago’s US$ 66.8 billion.

Also, the country’s total external financial liabilities dropped by 3.6 percent to US$ 92 billion during the same period from the US$ 95.37 billion in end-December 2007.

“The meager improvement in the IPP reflected the weaker external payments position in 2008, as the BOP yielded a surplus of US$ 89 million, markedly lower than the US$ 8.6 billion surplus realized in 2007,” the report said. Read more…

Oakwood Premier Manila soon to offer its new Serviced Aparments

Oakwood, the leading, global serviced apartment provider, today announces its return to Manila with the opening of Oakwood Premier Joy~Nostalg Center Manila.

Located in the business and commercial district of Ortigas, Oakwood greets residents with 233 elegantly appointed apartments, offering a unique combination of hotel-like facilities and services with modern home conveniences.

“Manila is important to our international portfolio because of its expanding role in the global community,” says Chris Ahearn, Senior Vice President of Sales and Marketing for Oakwood.

“The occasion is made more significant because we opened the very first Oakwood Premier originally here in Manila.

The addition of this property further marks Oakwood’s commitment to meeting the needs of our global customers.”

The property features studio, one, two and three bedroom apartments, as well as a spacious chairman suite including a pool and Jacuzzi. Each Oakwood apartment offers the following amenities, all included in the cost of the apartment: Read more…