The property “Kiener Hills Condominiums” in Mactan Island, Cebu, was originally completed in 2002. Of the 548 total units in the project, approximate 40% have been furnished and fitted out. Since 2004, the majority of these fully-furnished units are being managed by SDR Mactan Island Serviced Apartments.
With the announcement of the US$395 redevelpment of the Cebu International Airport which is located just 3 minutes from our property Kiener Hills, Cebu is now a flourishing property in a superb location that offers an excellent opportunity for both investors and end-users. Purchasers of properties via Kiener Hills, receive a guaranteed return of *6% per annum or 60% of the net room income from our exclusive arrangement with SDR Apartments.
High Quality Condo for Rent in Mactan
Good Prospects for Cebu Real Estate
Savvy international investors and industry experts suggest that the main appreciation of Cebu properties will occur over the next 5 years and will not plateau for many years thereafter. The Philippine Department of Tourism (DOT) is on record highlighting the gross shortage of Cebu accommodation. Even with the current construction boom in Cebu, there will not be sufficient rooms for the Department of Tourism’s projected needs for this market.
In terms of valuation, Cebu is way behind its fellow Asian resort destination neighbors Phuket and Bali. Similar to Bali, and despite adverse market conditions in the world, Cebu property prices and, more importantly, rental returns continue to surge. In terms of average price per square foot, similar condominium projects in Phuket sell for approximately US$375 per square foot (unfurnished), whereas the Kiener Hills property in Cebu sells at a minimum of US$99 per square foot (unfurnished).
Cebu’s Flourishing Tourism
Cebu has a lot to offer to a diligent investor. Growth in the Cebu tourism market is up 25% year-on-year in terms of people entering the province. More than 40% of all tourists coming to the Philippines stop or fly directly into Cebu. Currently, there is 7 million visitors per year through Cebu International Airport. A direct result of Cebu’s growth has resulted in the US$395 million dollars of improvements to the Mactan-Cebu International Airport, located a few minutes away from Kiener Hills. This will transfer the airport into the worlds first ‘Resort style Airport’.
Cebu offers an abundance of options for tourists: world class diving, whales shark experiences, mountains, beaches, historical sites and a lot more.
Cebu has direct flights from the following countries:
- China (Guangzhou and Shanghai)
- Hong Kong
- Indonesia (Jakarta)
- Japan (Tokyo, Nagoya, and Kansai)
- Malaysia (Kuala Lumpur and Kota Kinabalu)
- South Korea (Seoul and Pusan)
- Taiwan (Taipei)
- Thailand (Bangkok)
Due to the growth in Cebu as a destination, more flights are being added regularly.
Kiener Hills’ Great Location
Kiener Hills is superbly located just 5 minutes away from Mactan-Cebu International Airport and a five-minute stroll to a supermarket, banks, restaurants, the Cebu Yacht Club, and the best resorts in Cebu. A golf course is within 5 minutes, and the beaches and world-class diving resorts are just 10 minutes by car.
Schools are a few minutes walk, whilst good hospitals are less than 10 minutes by car. The property is second only in number of apartments to the Shangri-La’s Mactan Island Cebu property, which is only 10 minutes away by car. Kiener Hills is within five-minute walk to the ocean and within 15 minutes of all the beach resorts in Mactan Island.
Our strategic location means you are positioned perfectly between Cebu City and the resorts of Mactan. Being on Mactan Island, allows a life of fresh air and little traffic in comparison to those located on Cebu Island side.
Kiener Hills, A Great Opportunity
The opportunity to purchase serviced apartments, professionally managed by SDR since 2004 is the only company in Cebu to offer a guaranteed 5-year 6% per annum or gross return or 60% of the net monthly room revenue. And they have been doing it since 2004.
A studio purchase (on the guaranteed return program) will mean a gross amount of Php 165,235 per year in guaranteed rental income program. At the same time, you’re riding the burgeoning Cebu property market for capital appreciation. Now that’s an investment that provides peace of mind in trying times.
Own a high-quality Cebu condo in two premier building’s B and E at these discounted cash rates:
- Deluxe Studios Apartments [36.5625 sqm]: Php 2,400,000
- Two-Bedroom Loft Apartments:[65.74 sqm] Php 4,400,000
- Deluxe Two-Bedroom Loft Suite Apartments: Php 4,900,000
- Three/Four-Bedroom Deluxe Penthouse Apartments: [131.48 sqm] Php 9,200,000
We have special reduced prices on new apartments in Buildings C and D at these rates:
- New Studio apartments in the Buildings C and D: Php 2,388,008 (completed to SDR standards)
- Two-Bedroom Loft Apartments in Buildings C and D: Php 4,088,826 (completed to SDR standards)
**And we have a limited number of units that are available in ‘as-is’ condition (not improved and no furniture) for just: Php 1,600,000 for Studios and Php 2,500,000 for Lofts
As an investor, you will receive titles in your own name for each apartment purchased, and if you purchase in either of the two premier buildings in the project (Bldgs. B or E) you have a choice of two management contracts with SDR so that the returns start flowing:
- *6% PA guaranteed rental return for 5 years (for cash purchases), or
- (2) 60% of the net monthly room revenue for 5 years
For those purchasing in Buildings A, C or D we offer option (2).
NOTE: Under Philippine law, it is legal for foreign individuals or corporations to own Condominiums.
Cash Terms: Each purchase will require a standard 10% deposit upon signing the reservation agreement. Upon signing the Sale and Purchase Agreement, 90% final balance will be required to be placed in our Attorney’s escrow account and released upon the execution of the Deed of Absolute Sale (DOAS).
*6% guarantee is only available to units purchased from us and valued over US$40,000+ with the standard SDR approved furniture and decoration package. This program is subject to SDR’s final approval.
SDR’s Existing Management Operation
SDR Serviced Apartments commenced operations in 2004. Since inception, SDR has maintained average room occupancy of 75% since that time, which is amongst the highest in Cebu. SDR’s proven business model is based on medium to long-term foreign guests wishing to stay in 3-star accommodation in a great location but without the expensive price tag.
SDR apartments range from 395-1,415 square feet, and monthly minimum rent is *US$999 for the studio apartments (including utilities). The end-user has a luxuriously furnished apartment with an efficient kitchen, microwave oven, dual-burner gas stove, cooking and eating facilities, a large bathroom, cable TV, digital telephone, complimentary high-speed Internet, and a balcony. The apartments also have two swimming pools and a recently completed bar and restaurant.
*Subject to change
Benefits of SDR’s Fully Managed Rental Program
- In addition to the instant and ongoing rental returns and seeing significant appreciation of the value of your asset over time, you (as apartment owners) are able to finance your investment with real rental returns;
- Rental management by SDR Serviced Apartments ensures your apartment will be maintained in optimal condition at all times so no need to worry about bills or maintenance fees;
- Your Cebu apartment will be furnished according to the highest four-star standards;
- Each apartment becomes part of the SDR Serviced Apartment inventory and you sit back and enjoy the returns;
- SDR’s proven sales, marketing, public relations, and distributional network will rent your apartment to savvy tourists at attractive rates;
Apartment owners will have two attractive rental return options to choose from:
Guaranteed rental return of 6% per annum for 5 years*
For example, if you purchase a studio apartment for Php 2,753,924 you will receive a gross return of 6% (or Php 165,235 per year) for each year of SDR’s five-year management contract.
- Average return per apartment is before applicable taxes and borrowing cost.
- Yield % (i.e. average return per Apartment/Investment) is based upon investment price.
- Cost of condo corp. fees, a/c maintenance, Internet, cable TV, and telephone basic charge (total less than Php 2,990 per month as of June 2010) payable by owner.
- 6% guarantee is available only to units sold by SDR and finished to SDR standard furniture package and located in buildings E and B.
- Rental terms are subject to standard SDR Terms & Conditions.
- *6% guarantee is only available to units purchased from SDR and valued over US$40,000+ with the standard SDR approved furniture and decoration package. The guaranteed program is subject to SDR’s final approval.
Actual rental return based on 60% of net room revenue**
The rental contract is renewed every 5 years:
- Net room revenue is after G.S.T., travel agent, and credit card commissions.
- 60% return is determined by reference to net room revenue only.
- Average return per apartment is before applicable taxes and borrowing cost.
- Yield % (i.e. average return per Apartment/Investment) is based upon investment price of Php 2,753,924.
- Cost of condo corp. fees, a/c maintenance, Internet, cable TV, and telephone basic charge (total less than Php 5,000 per month as of April 2015) payable by owner.
- Rental terms are subject to standard SDR Terms and Conditions.
- SDR shall have the right to deny or approve any deal.
The above figures are for illustration purposes only. Contact us for specifics.
Choose a Top-Notch Condo for Rent in Cebu
SDR offers innovative and flexible payment plans of up to 10 years for Kiener Hills Condominiums. This in-house financing has made it a simple process for both locals and foreigners to join this exciting Cebu real estate project. The fixed financing rates are also very competitive relative to bank lending rates, and buyers can finance up to 85% of the purchase price via SDR’s in-house facility.
Kiener Hills in a Nutshell
- A unique opportunity to consistently earn strong annual rental returns in a time when the world’s economies are struggling.
- Enjoy the significant capital appreciation on the asset in Cebu’s flourishing tourism market, which is currently heavily undervalued compared to similar resort locations.
- Ride on the experienced and proven SDR management team, who continue to achieve some of the highest occupancy rates in Cebu, and enjoy flexible payment options.
- Low risk and quick completion (all 5 buildings are structurally complete); SDR only need to do the internal improvement and furnishing of the units.
- Ride out the turbulent times with a solid 6% guaranteed return per annum on your investment at a time where depositing your money in a bank provides low interest rates and limited security over your money!
- Foreign ownership is 100% legal
- Philippines economy is booming with 2015 on target for 6% + growth. The 2nd highest growth in the world.