Somerset Serviced Residence The Suites Gorordo Cebu

A CEBU-based developer partnered with an international management firm for a luxury condominium project in Cebu City.

Worldwide Central Properties, Inc. recently announced its partnership with The Ascott Limited for The Suites at Gorordo, a project seen to create commercial growth in the area.

The Suites is a 28-story condominium project with 160 residential units and 150 serviced apartments or condotel units. . It will be built on a 1,000-square meter lot at the corner of Gorordo Avenue and Archbishop Reyes Avenue in Cebu City.

A serviced apartment is a fully furnished apartment for both short-term and long-term stays, providing hotel-like amenities.

Ascott’s brand hierarchy:
* ASCOTT (A+) – market of business executives
* CITADINES – middle to upper level managerial market
* SOMERSET – upper market of executives and their families

 BIGGER INCOME SHARING!!!

55% is the Operation Cost ( Includes the Condo Dues & Repair budget)
45% is the Income shared per SQM.

Somerset Serviced Residence :
36.08 sqm, 38.08sqm, 40.18sqm, 48.79sqm  51.83sqm, 75.62sqm

Contract Price: Php 7,546,825.00.00 –  Php 16, 527,538.00
Inclusive ot VAT, FF& E, Sep-Up fund & Miscellaneous fees
Reservation Fee: Php 50,000.00

ROI : 6.2% – 9.0% with occupancy rate of 75%-85%
Please email us for sample computation