| Beth Collingz, PLC International Marketing Director, lead | | | | high end luxury lifestyle market. (These Investors) are |
| marketing partners for Lancaster Brand of Condotels | | | | all characteristically looking for a five star hotel resort, |
| in the Philippines, said the company's latest sale of | | | | with all the features of a hotel that can be used for |
| condotel units drew not only overseas Filipinos but | | | | vacations and then rent out the units when not in use |
| significant numbers of international buyers from Europe | | | | The new and exciting luxury five-star properties or |
| and Australia. Units in Lancaster Suites Manila are sold | | | | high end developments planned in Cebu Philippines, that |
| out whilst their latest project, Lancaster The Atrium at | | | | will be sold by invitation only and will start in the |
| Shaw Boulevard, Metro Manila is 75% booked and | | | | $150,000 to $200,000 range for Deluxe 500sqft |
| range from studios to three-bedroom penthouse suites | | | | Studios, can go all the way up to $600,000 for 2 |
| with full kitchens. We now have demand from our | | | | bedroom Penthouse suites and $800,000 for a Grand |
| clients for new, luxury high end condotel development | | | | Penthouse. Of course, International gateways from |
| in Cebu Collingz said. | | | | Europe, South East Asian and the United States to |
| Owners of Lancaster condotel units can arrange to | | | | Cebu-Mactan International Airport is within 15 minutes |
| stay in their units and they share 60% of any rental | | | | and, all units have sea views, beach toys and other |
| income. The Lancaster Atrium together with the soon | | | | lifestyle amenities such as spa and fine dining |
| completed and upcoming operations of Lancaster | | | | restaurants and will come fully fitted, furnished and |
| Suites Manila, one of the hottest real estate | | | | finished to the highest European standards with fully |
| investments in the Philippines, will be the hub for | | | | fitted kitchens, fitted bedroom suites and every unit will |
| Lancaster condotels in the Philippines. The 42-story | | | | be sold including all appliances, split type central unit |
| Lancaster Suites Manila, scheduled for operations this | | | | air-conditioning, plasma TVs' and state of the art |
| year, features studio, one-bedroom and two-bedroom | | | | communication and condotel management systems. |
| condotel units, as well as penthouse suites. The units | | | | Units will be significantly larger in size than a typical |
| will be available for daily, weekly or monthly rental, | | | | hotel room yet still a much better value for money |
| Collingz said. | | | | investment option than paying $800,000 for a studio |
| Collingz said a major condo hotel project is being | | | | suite in maybe Dubai or Panama or a cool million |
| considered by the Company with several UK | | | | dollars for a condo in Chicago. |
| Investment Trusts and local investors in Cebu, | | | | The planned high end Lancaster Mactan Resort |
| Philippines. "We've got so many clients requesting | | | | Condotels will be near the new Cebu Convention |
| Luxury Condotel Suites in Cebu willing to advance | | | | Center and Cebu International Airport which is key, to |
| payments for high end luxury condotels," she said. "It's | | | | good year-round occupancy numbers, she said. The |
| a whole new era of Overseas Investments coming up | | | | square footage can range from 700 square feet to |
| -- it's not something that we've typically seen in the | | | | 1,800 square feet for one and two bedroom suites or |
| past and no one in the Philippines fully caters to this | | | | more than 3,000 square feet split level penthouse suite. |