GERI 1H 2014 PROFITS RISE 35% TO P200M
13 August 2014
Global Estate Resorts Inc. (GERI), Philippines leading tourism estate developer, posted a net income of Php 200 million for the first half of 2014, up 35% from P147.8 million for the same period in 2013 due to strong real estate sales from its various tourism estate projects, particularly, Boracay Newcoast, Twin Lakes and Southwoods City; and higher hotel income. Total Revenues during the first half of 2014 for GERI amounted to P1.4 billion, up 56% from P 903 million for the same period in 2013. GERI has posted P 6.5 billion in reservation sales in the first half of 2014 which is 30% higher from P 5 billion for first half 2013.
We are confident that we can sustain the growth momentum of GERI for the remainder of the year." said Atty. Ferdinand Santos, GERI President.
GERI now has three major developments namely: the Boracay Newcoast and the Twin Lakes resort community near Metro Tagaytay and Southwood City.
The Boracay Newcoast is being developed at a budget of P15 billion on 150 hectares of land that occupies roughly 15% of Boracay. It is considered the single largest piece of land in the island.
With its proximity to the world-famous Boracay beaches, Boracay Newcoast is designed to be a leisure-driven community that will help shore up Boracay's long-term tourism growth by helping increase tourist arrivals year to year.
Also being developed within Boracay Newcoast are the Newcoast Village, the Town Center Shop house District, the Boutique Hotel District, the Oceanway Residences, Savoy Hotel Boracay and Belmont Hotel Boracay.
Twin Lakes, GERI's second flagship project, is a 1,200-hectare community in Laurel, Batangas, just off Metro Tagaytay. The company is initially putting in P5 billion for the development of this first-of-a-kind vineyard resort community expected to be the premiere medical and educational tourism destination in the country.
Twin Lakes has a panoramic view of Taal Volcano and the Taal Lake and offers a unique resort lifestyle centered on Tagaytay's beautiful scenery, the fresh greenery and year-round cool weather. One of the major projects within Twin Lakes is the garden-themed Domaine Le Jardin, a 33-hectare residential village whose design was inspired by the garden-laden scenery of Tagaytay. Domaine Le Jardin is the first residential community in the country to offer properties with specially built terrace areas.
The other major development within Twin Lakes is The Vineyard Residences, a cluster of residential towers located in a 69-hectare mixed-use complex aptly called the Vineyard.
GERI's third major development is Southwoods City, a 561-hectare property in the boundary of Carmona, Cavite and Binan, Laguna into a fully-integrated master-planned township development. Southwoods City, is positioned to be the next residential, business, commercial and leisure hub that is closest and most accessible to Metro Manila. It has set an initial capex of P10 billion for the next 10 years to develop Southwoods City.
Southwoods City will be GERI's largest fully integrated township to rise in southern Metro Manila, adjoining the provinces of Cavite and Laguna. Easily accessible through the South Luzon Expressway, Southwoods City is 20 minutes away from Makati CBO.
As a mixed-use development, Southwoods City will add the "golf" component to the LIVE-WORK-PLAY-LEARN lifestyle concept as the 125-hectare Jack Nicklaus-designed Manila Southwoods Golf and Country Club is located right at the heart of the township.
Southwoods City will also feature a central business district, commercial and retail stores, malls, schools, church, a cyberpark, a medical facility, open parks, leisure facilities, a weekend market, and its own transport hub.
Soon to rise in the township's cyberpark are state-of-the-art environment-friendly office towers that will support the growing demand of office spaces especially in the business process outsourcing (BPO) sector.
Within Southwoods City, the company is introducing Pahara, a 26-hectare sprawling residential village, which consists of 602 available lots ranging from 239 square meters to 523 square meters on hilly terrains with spectacular views of the golf course and the Laguna de Bay.
This residential village will feature Mediterranean-inspired architectural theme with its own exclusive amenities such as a clubhouse, swimming pool, function halls, children's playground, an outdoor circuit gym, jogging paths, landscaped parks, as well as green open spaces.