• Megaworld’s GERI targets P2B in condo sales

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    Global Estates Resorts Inc. (GERI), the tourism and leisure subsidiary of property giant Megaworld Corporation expects to generate P2 billion in sales after the launch of a new resort condominium project, the company said last week.

    In a statement, GERI said it is set to build a second resort condominium project at its 1,200-hectare Twin Lakes township in Tagaytay.

    To be called The Manor, the new residential development will be a 12-story three-clustered residential development with a total of 129 units.

    “The Manor will have the design inspiration culled from the famous chalets in the Swiss Alps, with the residential development being nestled at the mountainous landscape of Twin Lakes in Tagaytay,” Megaworld said.

    The residential project will offer residents more privacy and security as it will only house 14 units per floor that range from 27 square meters to 55 square meters.

    Each unit of the project will also feature a balcony, which offers residents a view of the famous Taal Lake.

    “Residents will have an ultimate European experience of living at the Manor. Everyone can enjoy the cool breeze of Tagaytay while enjoying the naturally serene backdrop of the township. They will have a wonderful time relaxing with nature as they settle in the development’s comforts,” GERI Vice President for sales & marketing of Twin Lakes Glennford Heraldo said.

    Also, the upcoming project will feature two exclusive amenity decks, which include a swimming pool with lounge and spa, a function hall, a business center, a fitness center, a game room, as well as outdoor amenities and a children’s play area.

    The Manor will be part of the 1.3-hectare residential phase of the Twin Lake township, located within The Vineyard.

    “The 10-hectare vineyard is a stunning landscape of tidy rows of grape-dotted vines that banter unpredictably with the changing seasons, a setting that mirrors the world’s renowned vineyards in Tuscany and Napa Valley,” GERI said.

    Aside from The Manor, another residential development located within the Twin Lakes township is The Vineyard Residences, which GERI previously launched. The residential project is composed of three-mid-rise condominium towers named after famous grape varieties: Shiraz, Merlot, and Chardonnay.

    “Twin Lakes is Tagaytay’s largest and most complete tourism estate with expansive nature spaces linked by residential villas, condominiums, townhouses, hotel and resort, commercial and retail hubs, and leisure facilities,” the company said.

    Aside from Twin Lakes, GERI has four other townships across the country: Boracay Newcoast in Boracay Island, Aklan (150 hectares); Southwoods City on the boundaries of Carmona, Cavite, and Biñan, Laguna (561 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); and Alabang West (62 hectares).

    In the first half of 2016, GERI posted a 37 percent increase in its net income to P465 million from the P399 million it posted in the previous year.

    Megaworld’s GERI posted a net income of P465 million in the first half of 2016, up 37 percent from P339 million during the same period the previous year.

    “The strong residential sales has attributed particularly in Boracay Newcoast in Aklan, Sta. Barbara Heights in Iloilo, Twin Lakes in Tagaytay, Southwoods City in Cavite-Laguna and Alabang West in Las Pinas City,” GERI said.

    GERI is the tourism and leisure arm of property giant Megaworld Corporation, of which the parent firm has an 82.3 percent stake.

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