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MANILA, Philippines – Megaworld Corp.’s wholly owned subsidiary, Global-Estate Resorts Inc. (GERI), revealed its new 12-story Manor project in Tagaytay.
The new residential project is expected to rise on 1.3-hectare The Vineyard of Twin Lakes, which is the largest and most complete tourist estate in Tagaytay. The Manor will comprise 14 units per floor ranging up to 55 square meters, equivalent to 129 units.
Amenities in the 12-story Manor include a function hall, children’s play area, business area, outdoor amenities, spa, swimming pool, and lounge.
Twin Lakes Vice President for Sales and Marketing, Glennford Heraldo, stated that the new residential project will provide residents a European living experience.
Twin Lakes has been known for its hotel and resort, residential villas, leisure facilities, townhouses, and commercial hubs among others. It also houses 10-hectare vineyard, which mirrors Tuscany and Napa Valley’s world renowned vineyards.
Aside from Twin Lakes, GERI’s growth is driven by the strong residential sales of 562-hectare Southwood City in Cavite-Laguna, 173-hectare Sta. Barbara Heights in Iloilo, 62-hectare Alabang West in Las Piñas, and 150-hectare Boracay Newcoast in Aklan.
The residential sales account for as much as 75 percent of GERI’s total revenues. In the first half of 2016, the Megaworld subsidiary reported P465 million income, which is an increase by 37 percent. Revenues also rose to P2.86 billion by 36 percent.