A new condotel project in Laguna is starting to take shape after Premium Megastructures and Malveda Properties Development signed a partnership late last year. Groundbreaking took place in 2020 and this agreement is the next step in the development of Cerise Tower.
The 20-storey tower will be operated as a condotel, also known as an apart’hotel. This means units are sold to investors like a condominium, but the entire project functions as a hotel. Room rates are then pooled together and shared among owners, providing them with a hands-free real estate investment. Ascott is set to manage the project under its Citadines brand.
Related: What is hands-free real estate investment and is It right for you?
The new condotel project in Laguna boasts traditional amenities such as a swimming pool, lobby and fitness area. Additionally, Cerise Tower will be anchored by a retail podium which adds to its appeal.
Premium Megastructures is bringing a number of innovations to the building process. For example, it will use its precast technology to complete the new condotel project in Laguna faster and with improved cost efficiency. Precast cement is also more environmentally friendly and creates a safer work environment.
New condotel project in Laguna looks to tap into growing market
Laguna is one of the go-to weekend destinations in the Philippines thanks to its breathtaking bodies of water and natural resources. It has rapidly become a real estate hot spot in recent years due to a location near Metro Manila and other key provinces such as Batangas and Cavite.
Related: 5 Things You Didn’t Know About Laguna
The region is also seen as one of the most important business locations in the south. Not only is it home to several car manufacturers but many BPO and IT focused companies are now operating in Laguna.
