Released on = June 25, 2007, 12:58 pm

Press Release Author = Beth Collingz/PLC International Marketing Networks

Industry =

Press Release Summary = For investment real estate buyers looking for rental income
on their properties, Condotels are good buy to rent property investments

Press Release Body = The buyers are investors in hotel-condos, a real estate product
that combines the flexibility of ownership of a condo in a hotel setting. Popular in
the United States, Europe and the Middle East, hotel-condos are just starting to pop
up in the Philippines for the first time.

Unlike simple condominiums -- which owners can use as they please -- hotel-condo
units are both investment and residential units that can be used by their owners for
up to 30 days per year. The plus is that the owners can invest in real estate while
having access to hotel amenities like a spa, gym, room services. The remaining time,
the units\' owners return the rooms to a rentable pool run by the hotel. As the units
are rented out, the owners receive a split of the income. Alternatively, unit owners
can live permanently in their suites and enjoy hotel living 365 days a year.

One such project recently announced, with Pacific Concord Properties Inc -- among
the first developers to do a hotel-condo in Metro Manila -- submitting plans to
build a 42-story twin high-rise at Shaw Boulevard, will be called Lancaster - The
Atrium.

The Lancaster Atrium is a twin tower development that sits on a common podium with
the Lancaster Suites Tower I, which was sold out in less than 18 months and is part
of its hotel-condo program.

Units at Lancaster - The Atrium Tower A are priced from $36,395 to $355,000 -- for
sizes ranging from 300 square feet to 1,350 square feet

Beth Collingz, Marketing director for PLC International Marketing Networks, which is
exclusively marketing the Lancaster Suites and Lancaster - The Atrium Hotel
Condominiums in Metro Manila, said condotels started appearing on the market
following PCPI's launch of the Lancaster Suites back in 2004. "We see a marked
increase of interest from buyers who live Europe as well as from corporations
looking to invest in Philippine real estate". There have been a plethora of
residential properties coming on the market, but not many Condo Hotel developments
adding that, "in the currently hot Philippine real estate market no one felt the
need to try out a product that had not been tested in the country before.\"

The market for investment properties has shifted in part because of a booming demand
for hotel rooms in Metro Manila and a weak dollar internationally. On a broader
scale, baby boomers are retiring and buying second and third homes, and interest in
real estate as an investment remains strong, when it comes to the market for
hotel-condos, the Lancaster project is attracting international customers familiar
with this type of investment opportunity. Collingz said

The Lancaster Atrium Tower A development will have 450 hotel-condo rooms and suites,
a spa, swimming pool, business center, its own mini mall, shops and convenience
stores and several restaurants. The project, located atop a common podium with
Lancaster Suites Tower I is only one block from the Ortigas Center, Shangri-La Mall,
Edsa Plaza Hotel and SM Megal Mall, will continue construction of its superstructure
this year having already completed foundation works and put in place 5-levels of
basement parking.

While it is possible to secure easy no prequalification, no down payment 6 year no
interest payment plans for the Lancaster Atrium suites, Collingz said that most
buyers purchase these properties with a small down payment of some 30% to reduce the
monthly payments to around $400 a month for a Studio unit or take advantage of a 20%
discount for outright cash purchases.

Unsurprisingly the hotel-condo investment trend in the Philippines will accelerate
-- from Metro Manila to other major metropolitan hubs such as Cebu. PCPI's Lancaster
Cebu development is already sold out with Condotel operations will commence this
March.

PCPI has appointed Lancaster Hotels, Land and Properties, Inc (LHLPI) to oversee the
operations, sales and marketing, and asset management of the condotel. Guided with a
clear goal of maximizing profitability, LHLPI will spearhead the management of the
condotel as well as that of the entire condominium building.

Statistics from the Department of Tourism indicate that the number of tourist
arrivals to the Philippines has been consistently growing by double digit
percentages for the past three years. In 2005, of the 2.3 million tourist arrivals,
1.7 million visited Cebu. In fact, an additional 40,000 hotel rooms are needed to
accommodate the expected five million tourist arrivals by 2010.

The Lancaster brand of Condotel developments further validate the increasing demand
for hotel rooms which make us more confident that our market and financial
projections will be achieved.

Further info on Lancaster Condotels in the Philippines can be found on the firms
website


Web Site = http://www.lancastersuites.com

Contact Details = Beth Collingz
PLC International Marketing Networks
Pacific Concord Properties Inc., Manila Head Office
Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines
EMail: plcsales@pldtdsl.net