Business as usual—this is how experts describe the state of the real estate industry in the country amid the current global health crisis.
Despite the fluctuating investments due to much-needed responses, such as lockdowns and community quarantine protocols, investing in property remains one of the best opportunities to pursue, especially as the condominium market becomes more affordable.
For CitiGlobal Realty and Development Inc., a top real estate developer that offers affordable and income-generating properties in the country, there is no better time than now for Filipino, especially Overseas Filipino Workers (OFWs), to invest in low-risk investments, such as condominium units, as they become exceptionally affordable.
Since last year, and with the onset of the COVID-19 pandemic, this segment in the real-estate industry dropped by 15 percent for the first time in 10 years, says a report released by Colliers International.
But what if you want to earn more from this investment?
With its passion for helping OFWs and other investors, CitiGlobal is currently developing Condotels in strategic and high-value locations across the country, which can serve as passive income-generating properties.
Condotels are short for “condominium hotels,” which operate as a hotel. This type of property mimics the hotel’s operations, management, as well as facilities. CitiGlobal has partnered with well-experienced, world-class hotel operators, to ensure the quality service and expertise they can provide to the guests. Unit owners earn by receiving a share of the total profit of the hotel operations.
“The COVID-19 pandemic showed us that there will always be times when we will be put in difficult situations, and it is during those times that we need the most help physically, mentally, and financially. Investing in real estate properties like Condotels will help Filipinos, especially OFWs who have been working hard for years, ensure financial security and reliable income sources,” Gary To, Managing Director of CitiGlobal Realty and Development Inc., said.
Another reason why CitiGlobal believes Condotels will be a good investment, post-pandemic, is the hotel industry’s ability to recover from a crisis.
“The hotel industry’s vulnerabilities are multi-faceted. Still, its ability to deal with impacts associated with these vulnerabilities in the past, for instance, the SARS outbreak in 2003, stands in good stead to overcome COVID-19,” says To.
As one of the top real estate developers, providing affordable, exclusive, first-class, and income-generating projects to investors, CitiGlobal shares other benefits of owning a Condotel and the ways it can help Filipinos recover post-pandemic, as listed below:
Earn while you are away. Condotels provides investors with shares of the overall income generated by its operations and not just from their units. This gives unit owners steady passive income without the need for the owner’s presence.
Entrust your property to professionals. Owners no longer need to actively manage their unit and garner travelers to stay for the night. The Condotel’s management will handle all the steps required to gain potential tenants and keep them accompanied during their stay.
Enjoy Hotel Privileges while staying for free. One of the best perks of owning a Condotel is that you do not only gain income, but you also get to stay in your unit with the luxurious leisure of a hotel.
Making the right investments can help Filipinos ensure financial stability if ever another crisis comes. CitiGlobal prides its real estate properties as the perfect venture to witness the beautiful locations of the country while providing financial security for investors.
“Even before the pandemic, we have always sought to provide sustainable income-generating investments for our investors, particularly OFWs looking for opportunities to become financially stable in the country and be with their families again. Condotels are our way to help them have this chance while experiencing the natural beauty of the Philippines,” To said.
CitiGlobal Realty and Development, Inc. envisions of becoming a top real estate developer in the country, effortlessly putting the country’s best tourism locations on the map through their real estate properties. And provide investment opportunities for OFWs to have back in the country and be with their families.
CitiGlobal is a flourishing real estate development company in the Philippines. It started as a marketing, landholding, and leasing company back in 2003. However, after seeing how responsive and competitive the economy became in the country, it accepted the challenge to become an efficient and lifestyle developer in 2011.
CitiGlobal aims to deliver quality real estate projects that will revolutionize the Filipino mindset on leisure properties. Among their currently open real estate projects are Tagaytay Fontaine Villas, Tagaytay Clifton Resort Suites in Tagaytay, and Diamond Beach Resorts in Palawan. They also have future projects in line in Quezon City, Cubao, Bataan, Tagaytay, Palawan, Panglao, and Davao.