18-story condotel to be launched this year – exec

After topping off their 32-story condotel property Ramos Residences, Cebu real estate developer Fuente Triangle Development Corp. will launch another high rise this year in Cebu City.

Jose Maria H. Gianzon, Fuente Triangle Development Corp. vice president, said construction for the 18-story City Loft Mango has started and will be launched within the year.

With the project along along Mango Avenue in Cebu City, people will get another chance to become part of their network as an investor.

Investors in City Loft Mango will enjoy exclusive priviledges like free Club Ultima International membership with seven free room nights a year in member establishments around the world, said Gianzon

The new building will be located beside Sacred Heart Boys High School with 300 units.

“This will be ideal for startup families, young professionals and students and we offer it though in-house and bank financing,” Gianzon said.

He said d that Fuente Triangle Development Corp.’s continued investments was fueld by the continued real estate boom and the tourism industry.

“Cebu is a tourist destination so the market for condotels is a growing segment for us. We remain confident,” said Gianzon.
The firm is also scheduled to turn over units of the Ramos Residences to owners by the end of the year.

“The property is almost 100 percent sold. Only three units are left which were reopened just today,” Gianzon said on Tuesday.

The 400-unit Ramos Residences will be operated as a condotel.

The management is conducting a survey among unit owners who would like to join them in the condotel operations and have their units committed for the hotel segment of the property.

“Owners of units in our properties don’t only enjoy the benefits of the hotel operations but also enjoy the facilities of the other 2,900 affiliated hotels around the world. This iwhy we tell our investors that their investments with us are all worth it with free room nights in our other properties like in Boracay,” he said.