GERI PROFIT SOARS 37% TO P320M
11 November 2014
Leading tourism estate developer Global Estate Resorts Inc. (GERI), a subsidiary of property giant Megaworld, posted a net income of P319.9-million for the first nine months of 2014, up 37 percent from P232.7-million for the same period in 2013, due to higher income from its hotel business and strong real estate sales from its various tourism estate projects such as Boracay Newcoast, Twin Lakes and Southwoods City,
Total revenues of GERI during the first nine months of 2014 amounted to P2.06-billion, up 56 percent from P1.32-billion for the same period in 2013. Meanwhile, the company posted P10 billion in reservation sales in the first nine months of 2014, up 43 percent higher from P7-billion year-on-year.
According to GERI president Atty. Ferdinand Santos: "GERI is on track for another record year of net profits in 2014."
To date, GERI has four major developments: Boracay Newcoast in Boracay Island, Twin Lakes in Metro Tagaytay, and projects south of Metro Manila such as Southwoods City and Alabang West.
Boracay Newcoast is a P15-billion development covering 150 hectares of land that occupies roughly 15 percent of Boracay. The development consists of the single largest piece of land on 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 every year.
Twin Lakes, GERI's second flagship project, is a 1,300-hectare community in Laurel, Batangas near Tagaytay, The company is initially investing P5-billion for the development of this pioneering vineyard resort community, which combines residential, hotel and commercial components, as well as medical and educational offerings.
GERI's third development is Southwoods City, a 561-hectare property on the boundaries of Carmona, Cavite, and Biñan, Laguna. A fully-integrated master-planned township development, Southwoods City is positioned to be the next residential, business, commercial and leisure hub that is most accessible to Metro Manila. GERI has set an initial capital expenditure of P10-billion to develop Southwoods City over the next 10 years.
Southwoods City will add a "golf" component to the live-work-play-Iearn lifestyle concept of the township with the presence of the 125-hectare Jack Nicklaus-designed Manila Southwoods Golf and Country Club. It will also feature a business district, commercial and retail stores, malls, schools, a church, a cyber park with BPO offices, a medical facility, open parks, leisure facilities, a weekend market, and the development's own transport hub.
Within the Southwoods City township is Pahara, a sprawling 26-hectare residential village with 602 lots ranging from 239 square meters to 523 square meters in size. The lots are spread out on hilly terrain with spectacular views of the golf course and Laguna de Bay.
Pahara will feature a Mediterranean-inspired architectural theme with its own exclusive amenities such as a clubhouse, swimming pool, function halls, a children's playground, an outdoor circuit gym, jogging paths, landscaped parks, and green open spaces.
Meanwhile, GERI is also developing the 62-hectare Alabang West into a Beverly Hills-themed township community. GERI is allocating P10-biliion to develop the township in the next five years.
Alabang West is located on a vast property beside the booming business and commercial district of Alabang. The township's highlight is the 1.3-kilometer commercial and retail row inspired by Hollywood's famous Rodeo Drive.
Set next to Rodeo Drive is the exclusive Alabang West Village which offers 788 residential lots ranging from 250 to 800 square meters in size. The village showcases a huge clubhouse complex with facilities such as badminton and basketball courts, function rooms, cabanas, a game room, café, al fresco dining areas, a fitness center, pocket gardens, parks and an infinity pool.
Strategically located at the heart of Alabang's high-end communities and golf course, Alabang West is conveniently accessible through the major access points of the South Luzon Expressway-Alabang Exit and the upcoming Daang Hari Exit. It features close proximity to the major business districts of Makati and Fort Bonifacio.