It seems to be Teak, which is a quite expensive wood. Lots of Yachts and Boats are made of Teak and it is used widely on decks, so, I still dont understand what your question is? What you are saying, is that because of the electrical and AC Vent, you need to drop the ceiling? Do you have straight walls/ceiling? can the wood be attached to the existing ceiling? The Carpenter installing the wood, could just lower the AC Vent and what kind of electrical are you talking about? The ceiling can lights?

Which cedar? There is yellow and red. Teak is known to be more on the brown side. This could work....or it could go wrong. It all depends on the colour of the wood being used.

You can opt for the frame work of solid wood or waterproof plywood , polish it , can install lights at cross section , I don't know about the size and shape of your room . This way you can have ceiling fan also at the location you want . Easy and simple solution. will look elegant as well

@Rock Doc: Are you addressing this to me? I haven't actually bought these tiles yet - when I do, I will definitely be going for the handmade ones. They're a work of art and irreplaceable in my opinion. However, there are also screen-printed tiles available in the market in more or less the same patterns; the workmanship is of course different, but you get them cheaper, and they're also more easily available. You could give that a shot. I'd recommend Aakaar Flooring Solutions - they're here on Houzz and are able to provide both the above-mentioned types.