Sta. Lucia breaks ground for Arterra Residences

MANILA, Philippines - The Queen City of the South added another jewel to its crown as real estate developer Sta. Lucia Land broke ground on Arterra Residences at Discovery Bay, a condotel project situated along the Maribago coastline on Mactan Island, at the project site in Punta Engano. The project is expected to be completed by December 2016.

Arterra Residences is a 20-story structure built on the same strip as Cebu’s most popular five-star hotels. It is a 20-minute drive from Mactan-Cebu International Airport and offers a stunning, panoramic view of the Maribago coast. Unit owners and renters may also avail of country club privileges and amenities at Arterra’s members-only North Point Peninsula and Resort Club. The country club boasts of a wide range of features such as a lap pool, kiddie pool, jacuzzi area, poolside bar, spa, gym, basketball court, coffee lounge and restaurant, a viewing deck, function rooms and a business center.

Arterra Residences offers studio, one-bedroom, and two-bedroom condotel and residential units. Each unit is tastefully designed with elegant, contemporary furnishings and stylish, clean lines. The modern yet relaxing feel is also evident in the rest of the amenities, including the spa, coffee lounge, bar area, and poolside.

Arterra Residences’ condotel units will be placed under the management’s hassle-free rental program initially for 15 years. Experienced hotel managers and staff will operate and manage the condotel and take care of maintenance as well as taxes, eliminating the traditional lessor-lessee issues.

Arterra Residences is one of Sta. Lucia’s growing condotel portfolio, a response to the government’s push to promote the Philippines as a top tourist and business destination. Under Sta. Lucia’s condotel concept, unit owners may vacation any time for up to 30 complimentary room nights per year, transferable, across all Sta. Lucia hotels and condotels nationwide. Other Sta. Lucia condotel projects already operational are Sotogrande and La Mirada in Mactan, Cebu; Splendido in Tagaytay City; and La Breza in Quezon City, with projects lined up in Davao City, Fairview and Katipunan Ave. in Quezon City, Iloilo City, and Cainta.

Sta. Lucia’s Property Management Group has also tied up with popular booking sites Agoda.com, Booking.com, Expedia.com, Orbitz.com, Asiaroom.com and Hotels.com, assuring unit owners of steady income through rental revenues within the contract period, with a high return on investment. Currently, Sta. Lucia condotel projects earn an internal rate of return (IRR) of at least eight percent or $570 per month, and annualized growth rate of seven percent on their investment.  Rent revenue is paid out to unit owners in quarterly dividends. Prices for the units are expected to increase by March 1.

For inquiries and other details, call 681-9999 for Metro Manila or (032) 238-6006 for Cebu, or visit Sta. Lucia’s website at www.stalucialand-intl.com.