BOI approves P336.7-M apartment hotel project

MANILA, Philippines - The Board of Investments (BOI) has approved the application of Valero Prime Land Realty Development Corp. for the construction of P336.7 million apartment hotel in Makati.

The proposed tourism facility in Valero Street, Salcedo Village, Makati City dubbed as “Citadines Salcedo Makati” involves the development of 940 square meters of land and the construction of a 37-storey, 212-room apartment hotel.

“This will expand the availability of tourist facilities in the country’s business capital and is in line with the country’s goal of attracting six million tourist arrivals by 2016,” Trade Undersecretary and BOI managing head Cristino L. Panlilio said.

The Department of Tourism (DOT) has already endorsed the project as an apartelle last April 25, 2011. Per DOT Regulations, an apartelle is any building or edifice containing several independent and furnished or semi-furnished apartments, regularly leased to tourists and travelers for dwelling on a more or less long term basis, offering basic services to its tenants, similar to hotels and with a minimum of 25 lettable apartments, each replete with residential amenities.

Each unit at Citadines will have living/dining areas, furnished kitchens and laundry areas. Room amenities will come with Internet connection and DVD player. Other building amenities will be a health and fitness center, swimming pool, tour desk, guest activity/recreation are, room service, gift shop, business center and meeting/conference rooms.