The Point Residences FAQ

What is The Point Residences all about?

• It’s Thunderbird Resort’s first real estate project in Asia that aims to be the premiere leisure & wellness residential community in Northern Luzon
• It’s a distinct development combining hotel, casino, beach & golf club facilities with a real estate community that sells house & lots on a leasehold right
• Target Market: Class A-B locally based Filipinos & OFWs (Metro Manila & Regions 1-3) & foreigners
• Will have wellness programs will feature services of medical, behavioral & nutrition experts that will support healthy living for residents & resort patrons

How does Thunderbird Resort’s lease affect home ownership?

• Thunderbird Pilipinas Hotels & Resorts Inc. (TPHRI) currently has a 47-year lease period in a signed agreement with the BCDA
• Buyers will be issued a limited warranty deed that entitles buyers similar rights as that of titled property; it asserts that lot ownership is dependent on Thunderbird Pilipinas’ lease contract with the BCDA & is automatically extended with every renewal
• Each 25-year lease renewal is automatically extended to lot owners

Q: What will happen to the Limited Warranty Deed if the lease is not renewed? Does this mean that I will pay for the lot & build a house but will release ownership when the lease expires?

Should the lease not be renewed, the property including all improvements will be returned to BCDA. The likelihood of this happening though is quite remote. Thunderbird Pilipinas (TPHRI) as developer, with interests in its hotel, golf course, casino & real estate investments, will be ensuring & spearheading the continuity of this enduring lease

What are the competitive advantages of The Point Residences?

• Free membership to the Beach & Golf Club
• Entire Property is guarded 24/7
• 5-minutes drive to the International Airport
• Lot positions offer great sea & golf course views
• Unique Mediterranean Concept
• VAT exemption
• Existing facilities operational since 2006…

What are the site development details of the project?

• Total allotted area for development = 15 hectares
• Total no. of lots & condos= 139 lots & 2 condos
  • Phase 1 = 39 lots
  • Phase 2 = 40 lots
  • Phase 3 = 60 lots
  • Phase 1 Mid-rise Condominium Development
  • Phase 2 Mid-rise Condominium Development
• Lot Sizes for Phase 1
  • Ranges from 300-450 sqm
• Lot Prices in Phase 1
  • Range from Php 7,705-9,200/sqm
• House Construction Cost with Impact Asia
  • Php 35,000/sqm

What are the amenities of the project?

Facilities
- Health & Wellness Center
- The Point Clubhouse
- Event Hall & Function Rooms
- Fitness Gym & Spa
- Commercial Center
- Chapel & Meditation Garden
- Wedding Cliff Pavilion
- Kid’s Pavilion & Play Area
- Basketball Court
- Tennis Court
- Swimming Pools
- Jog Path

Residential Services
- Housekeeping
- Laundry
- Landscaping
- Waste Management
- Shuttle Services
- Automated Community Gates
- 24 Hour Security
- CCTV Surveillance Network
- Rental Program

Q: What type of payment schemes do you have?

For lots in-house financing plans, we have 4 options:

1) Cash Payment With 12% Discount
2) 12 months, 20% DP, 5% Discount, 0% Interest
3) 24 months, No DP, 12% Interest
4) 60 months, Payment with 20% DP, No Discount & 12% Interest Rate

For more flexible payment schemes, inquire with your Broker or Property Specialist on other available options. Further, we are also currently under negotiations with major banks for project accreditation.

Q: How much will the homeowner’s association fee be? Are there any other fees relevant to homeowners?

Association dues will only be charged when there is an established Homeowner’s Association that will only be set up once there is a slightly populated residential area. Such development will be announced in due time.

Free Golf & Beach Club Membership that comes attached with lot purchases will incur monthly fees if actively used & are charged P1,500 & P750 respectively.

Q: When is the turnover for house & lots?

Construction of Phase 1 is expected to start by Quarter 4 of 2010.
Q: What is expected to of the commercial area in the vicinity?

The commercial area located in Phase 1 across the hotel will be a 2-storey building & will feature a coffee shop, some restaurants, convenience store & Wellness Center.

Q: Can buyers construct houses with the design & contractor of our choice?

Lot owners have the choice to use their own architectural designs given that they follow the provisions of the Deed of Restrictions. They can also their house built either by IMPACT ASIA, The Point’s official General Contractor or their preferred personal contractor.

Q: Can foreigners directly buy house & lots in this project?

Yes, foreigners may purchase house & lots at The Point. Philippine Law in general states that foreigners or non-Philippine nationals may purchase condominiums, buildings, & enter into a long term land leases, that covers this development.