|
Highlands Prime Inc., the high-end property arm of
the SM group, is set to include retirement and commercial components
in its master plan for Tagaytay Highlands and Midlands.
Antonio Henson, Highlands Prime
president, said the company would be short-listing local and foreign
companies that will draft the master plan for the 1,500-hectare
property in Tagaytay it co-owns with Belle Corp.
About 600 to 700 hectares of the
total land area are yet to be developed, Henson said on the
sidelines of HPI’s listing anniversary.
Apart from the golf course that
Belle has developed, the master plan may also include retirement
residential units and tourism components such as hotels, condotels
and small commercial establishments.
The development also entails
building additional access to the expressway and widening of
existing roads.
HPI has completed Wood-bridge,
its maiden medium density residential condominium development in
Tagaytay Highlands, which was followed by the 10-building Woodbridge
Park complex.
It also completed its Tagaytay
Highlands medium-density residential condominium development called
Horizon.
Meanwhile, HPI has earmarked P700
million of its P900 million capital expenditures for this year for
the construction of its first single-detached residential
development in the Highlands called Hillside.
Proceeds from preselling of units
would be used to finance Hillside, augmented by loans from its
existing credit lines with SM Group’s affiliate banks like Banco
de Oro, Chinabank and Equitable-PCIBank and Metrobank.
--Likha C. Cuevas-Miel
|
