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