GLOBAL Estate Resorts Inc. (Geri) on Wednesday said it is building its first residential condominium in its sprawling property in Southwoods City in Cavite-Laguna area.
The company said in a news statement that its project, called Holland Park, will be a cluster of two low-rise condominium that will be surrounded by the Manila Southwoods golf course.
“These residences right at the heart of the booming Southwoods City CBD [central business district] will be perfect for families finding a refreshing abode surrounded by the lush greeneries of the township’s own golf course,” said Rachelle Peñaflorida, vice president for sales and marketing of Megaworld Global-Estate Inc.
The project will be a low-density community with an initial of 161 units, consisting of studios, one-bedroom, two-bedroom and three-bedroom units, she said.
Holland Park, within walking distance from the proposed Southwoods Mall, as well as from the office and business-process outsourcing buildings that will soon rise in the township, is expected to be completed in 2017.
“The rising demand for property in Southwoods City prompts us to launch the first condominium project in the township, just a few months after we reached 90-percent sold out for Pahara,” Peñaflorida said.
Pahara is a 26-hectare upscale residential village within Southwoods City and was launched in March.
Southwoods City, on the other hand, was formerly known as Manila Southwoods, and is poised to become the next central business district in the southern Metro Manila.
It will have its own cyberpark, malls, schools, church, open parks, leisure facilities, a weekend market, transport hub, as well as residential villages and golf course.
Southwoods City is one of the 15 townships developed by Megaworld and its subsidiaries.
Geri posted a net income of P319.9 million for the first nine months of the year, some 37 percent higher than last year, on strong sales of its flagship projects in Boracay, Tagaytay and Cavite.
Reservation sales rose 43 percent to P10 billion from last year’s P7 billion, it said. “Geri is on track for another record year of net profits in 2014,” said the company’s president, Ferdinand Santos.
Aside from the three sprawling projects of Geri, the company announced that it will be spending some P10 billion in five years to develop its property in Las Piñas City into a mixed-use residential and commercial estate.