Buying your first ‘worry-free’ investment? Take it from Jennifer.

It was one of those chilly Saturday nights. The weather was perfect for a light, relaxing dinner. My husband asked me to cook sinigang na hipon. “Masarap humigop ng mainit na sabaw, hon. I’m sure our friends will like it too.”  I guess he’s right. And so I cooked siningang na hipon and caldereta while J.T. prepared Caesar salad, roasted chicken with potatoes and broccoli braised with garlic. I was busy preparing the dinner table when I got a Viber message from my friend, Cristina. She’s with her husband, Andy. It was past 6pm when Cristina and Andy arrived. They brought a dozen of homemade cupcakes. Sweet! After a couple of minutes, the doorbell rang. I asked J.T. to open the door. It was Sean. He’s the marketing manager from Megaworld International the one I spoke to during the project presentation in San Diego. I quickly introduced Sean to J.T. and we all returned back to the table after. Sean brought a bottle of Morgan Metallico Chardonnay. It’s one of the best fruit-flavored wines in California. I popped the wireless speaker, grabbed my phone and played some relaxing chill-out tracks on Spotify. (Thanks to my son who taught me how to use this music-streaming app. Haha.) It was a perfect dinner.

Sean, Cristina and even Andy assured me that this will be a worry-free investment. Why worry-free? Well, because the hotel operator will manage and operate our condotel unit. It will be managed by Prestige Hotels and Resorts, Inc. (PHRI) a subsidiary of Megaworld Corporation. Prestige will take care of the leasing, maintenance, improvement and even the refurbishment of the unit. The lease shall be for a period of 15 years and will be automatically renewed for another 15 years under the same terms and conditions stated in the initial agreement. The most exciting part is that we have the privilege to stay in the condotel for 30 room nights per year! A condotel as vacation house? Why not?!

“But what if our unit was not rented? Will we still earn from the hotel operations?” I asked Sean. The answer is yes! Sean explained to us that all condominium hotel unit owners are entitled to a share in the net room revenue whether his unit was rented or not. All unit owners will have a percentage share in the share of the pooled units. But c’mon, we don’t want to think about it. We’re pretty sure that the hotel occupancy rate in Boracay will be good enough. Besides, Boracay is attracting millions of tourists every year!

My husband and I agreed that Boracay Belmont Hotel was our best bet, even from the beginning. And they were right all along. Boracay Belmont Hotel from what I heard is a prestigious project development of Global-Estate Resorts, Inc., (GERI) a subsidiary of Megaworld Corporation. It is located in Boracay Newcoast, a 150-hectare township development of GERI in Boracay. It is Boracay’s first integrated, master-planned tourism estate. Because of its world-class fine, powdery sand and clear blue waters, not to mention the numerous international awards including the recent ‘Best Island in the World’ recognition, we have come to a unanimous decision. Finally! Boracay Belmont Hotel it is!

After some business talks, Sean asked me to fill up some forms. “This is it.” I told J.T. Sean handed me the Request for Reservation and Offer to Purchase form or RROP. I wrote my name as the primary buyer and my husband affixed his signature as the co-buyer. Then Sean asked me and my husband to complete the Buyer’s Information Sheet or BIS. It was quick. We gave Sean all the documents needed plus the required down payment. We were so satisfied that we ran out of questions to ask. Sean moved up from his chair and gave us a handshake “Finally, after months of pangungulit. Congratulations, Mr. and Mrs. Nakpil! We’re so glad that you chose Megaworld International to be your investment partner.” Cristina smiled at me and said, “You made the right decision, Jen.” Cristina is also a proud investor of Savoy Hotel Boracay, another prestigious condotel project of GERI in Boracay Newcoast.

We’re really excited about this new investment. I got to enjoy Boracay myself during my last trip to the Philippines and I want my family to experience the beauty of this island themselves. We may be far away from our beloved Philippines, but I know that Megaworld International will always put our best interest forward.

 

Worry-free investment for Filipinos abroad

In the last weekend of November, my family and I traveled to San Diego to spend some time with our family friends.  On Saturday afternoon, Cristina, my friend invited me to join her on a “roadshow”. Since I have nothing else to do, I decided to go with her. We spent our afternoon at Megaworld International San Diego office. I learned that Megaworld International is the global marketing arm of Megaworld Corporation and subsidiaries. The Megaworld team was very accommodating and I was able to also meet fellow Filipinos from nearby cities. Out of curiosity, I asked some of the Filipinos there on why they attended the roadshow, mostly would say it’s for their investment while the others would like to earn extra income as a marketing network.

I was smiling during the presentation because the townships were very familiar to me; in fact I mostly stayed in Megaworld townships during my vacation in the Philippines. I am glad to be able to relate with their presentation, the photos and renderings were enjoyable but like what I said to Cristina, the real experience is the best. I agree that Megaworld Townships offer the life-work-play-learn lifestyle as reflected from the proximity of shops and stores in their residential and business areas. Though, I am familiar with some, I learned more about the on-going and upcoming projects in the Townships. I also learned about possible investment opportunities especially through the concept of Condotel which Megaworld offers as a worry-free investment. From what I understand, it works like time-sharing (like the membership with clubhouses in the US) but the difference is that you actually own the hotel room! And you earn through the hotel operations. This appealed to me during the presentation that I had to approach a marketing manager to explain it further to me. There were a lot of technicalities and conditions but overall, this is a perfect investment for Filipinos who lives abroad without the worry of looking for tenant with your property. The condotel will be managed by a Megaworld company and the owner is given 30-days free stay in the hotel but not necessary the specific condotel unit that the owner owns.

The options given to me were Savoy Hotel Mactan Newtown (Cebu), Kingsford Hotel (Entertainment City) and Belmont Hotel (Boracay). After the event, I went home bringing brochures and sample computation and payment terms for these three. I discussed this with my family and their feedback is very positive towards the Belmont Hotel in Boracay.  My husband said that it was perfect location for a vacation property every time we go home to the Philippines while my children said that since it is located in Boracay which is a top destination for Filipinos and foreigners, the condotel will surely have higher occupancy rate and in the long term, a higher ROI, too.

Until now, we are still deciding and checking other options for this investment. We all have to think about this especially that this is a long term commitment of payments and coordination. Nonetheless, I was able to talk to the Marketing Manager who helped me and we are going to schedule a one-by-one presentation with my family.

I hope that this investment will push through! Now, time to focus on the preparations in the coming holidays J