Updates on Boracay Eden Condotel at Fairways & Bluewater Golf Resort

Standard floor plan of Queen Suites (34 sqm)

front view of the Boracay EDEN Condotel at completion

BORACAY  EDEN DESCRIPTION:

Standard Toilet and bath fixtures at the EDEN King suites

Fairways&Bluewater Golf Resort, 8th Hole

EDEN is a 54 unit development located closest to the main gate facing
towards the 8th hole on Fairways.It is the smallest building on Fairways.

It is named EDEN (after the garden of Eden) as it sits on the largest land
area with approx. 4,000sqm of landscaped land in front of the project for
residents to enjoy. It was mainly because of this and its access to
transport at the front gate that NihonPac chose the site.

Special features included in the project worth noting are:
1. All unit have a large bathroom with a window portal overlooking the room.
2. All ground floor units will have an extended small garden terrace area
off the balcony forming part of their immediate area.
3. EDEN units  have been designed in a modern Japanese/Thai theme.
4. EDEN is the only building on Fairways that will use energy saving
lighting and water saving technology.
5. EDEN is planning to have its own private swimming pool, Bar B Q and
children’s play area exclusive to the project.
6. Original oil paintings commissioned for EDEN per room plus lovely
oriental lacquered pieces from Burma.

PRICES:
QUEEN- 34sqm: US$ 97,000.
KING -   39sqm: US$112,000.
ROYAL-  68sqm: US$200,000. (one bedroom 2/F units).

Clients are required to pay a USD2,500 deposit on signing the Reservation
Form and sign the Contract of Sale and Fit Out Agreement for terms payments.

TERMS of PAYMENT:
1) 10% deposit and the balance 90% less 7% discount for cash on signing the
Contract of Sale within 30 days.
2) USD2,500 down. 50% within 30 days and the balance on completion or before
the 1st March 2009, which ever is the earlier.
3) USD2500 down.  30% within 30 days and the balance over 35 month’s in
quarterly payments at 14% interest as in-house financing.

COMPLETION:
EDEN is expected to be completed on around February 2009. Quantum will be
pre-marketing the rooms ahead of this date and have advised the units should
be immediately leased out once the unit owner settles and they are
transferred to the Management Co.

OWNERSHIP.
The units are being sold with FREEHOLD TITLE and so all owners can receive a
Certificate of Title and seek a bank mortgage. We are expecting these will
be issued within 3 months through our JV partners, Fil Estate.

LEASE-BACK MANAGEMENT:
All unit owners will be required to place their unit with the Management Co.
on Fairways . We have renegotiated for unit owners to enter into a 5 year
lease back with a 5 year option agreement with the Condotel management
(previously 15 years). We are waiting to get a draft but the new managers
are Quantum Hotels operating under New Port Creek Hospitality group.

Income will be distributed quarterly through New Port Creek.
Unit owners will also receive an audited report from Quantum of income and
expenses for the year on request.

30 DAYS ACCESS:
Unit owners will have 30 days free access to live in their unit throughout
the year. This can be in multiples or at one time.

As EDEN is located on Fairways and Bluewaters golf course it is one of the
only buildings, selling units on Fairways that gives unit owners free
playing rights on the golf course. All other building owners will be
required to pay as they play at a cost of approx. USD120 a round.

RETURN on INVESTMENT:
We project unit owners will receive on average approx. 9-11% income from the
management Co. over the first three years.  We add that should a unit remain
vacant in the month the unit owner will receive the same dividend as an
occupied unit based on the same sqm area. All income is pooled and expenses
deducted and the balance is then distributed to all unit owners based on
their unit size.

EDEN TOILET & BATH for the King suites

 

EDEN King Suites Living Room

EDEN King suites showing Door to Lanai

:
We have in place an optional Rental Guarantee offer to units owners.
We are offering a minimum 5% rental guarantee offer for 5 years.
Anything over 5% earned and NihonPac will receive 10%.

I.E  If the annual income for the unit is 10% to the unit owner.
Owner will receive 9.5%.
NihonPac will receive 0.5%.

This is an optional offer. Some unit owners have agreed to take the
Guarantee whilst a number have chosen not to seek the Minimum Guarantee
offer.

For more information please email me with queries.

Regards,

 

 

ENGR. JOSE MA. REGALADO

Group Marketing Director

NihonPac Developments, Inc.

Unit F-3, La Fiesta Resort, Front Beach

Station 1, Balabag, Boracay Island, Philippines

Mobile : +63 9178529563

Email Address: josemaregalado@yahoo.com

                         enjoyboracay@yahoo.com

Website : http://joe.boracayeden.com