Condos in Cebu, Philippines

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Cebu (; Cebuano: Sugbo) is a province of the Philippines located in the Central Visayas (Region VII) region, and consists of a main island and 167 surrounding islands and islets. Its capital is Cebu City, "the Queen City of the South", the oldest city and first capital of the Philippines, which is politically independent from the provincial government. The Cebu Metropolitan Area or Metro Cebu is formed by 7 neighboring cities (Carcar City, Cebu City, Danao City, Lapu-Lapu City, Mandaue City, Naga City, and Talisay City) and 6 municipalities (Compostela, Consolacion, Cordova, Liloan, Minglanilla, and San Fernando). Cebu is one of the most developed provinces in the Philippines with Metro Cebu being the second largest metropolitan area in the Philippines (after Metro Manila) and Cebu City as the main center of commerce, trade, education and industry in the Visayas. In a decade it has transformed into a global hub for business processing services, tourism, shipping, furniture-making, and heavy industry. Mactan–Cebu International Airport, located on Mactan Island, is the second busiest airport in the Philippines.

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A condominium, usually shortened to condo, is a type of real estate divided into several units that are each separately owned, surrounded by common areas jointly owned. Residential condominiums are frequently constructed as apartment buildings, but there has been an increase in the number of "detached condominiums", which look like single-family homes but in which the yards, building exteriors, and streets are jointly owned and jointly maintained by a community association. Unlike apartments, which are leased by their tenants, condominium units are owned outright. Additionally, the owners of the individual units also collectively own the common areas of the property, such as hallways, walkways, laundry rooms, etc.; as well as common utilities and amenities, such as the HVAC system, elevators, and so on. Many shopping malls are industrial condominia in which the individual retail and office spaces are owned by the businesses that occupy them while the common areas of the mall are collectively owned by all the business entities that own the individual spaces.

Source: https://en.wikipedia.org/