Global-Estate Resorts Inc., a unit of property developer Megaworld Corp., is spending P8 billion to develop a 300-hectare property surrounding Lake Caliraya in Laguna province into an integrated lifestyle community.
Megaworld said unit Geri would develop The Hamptons Caliraya into a mixed-use development that includes 11-hectare lakeside residential villages and villas with lots ranging from 500 square meters to 2,100 square meters.
A marina club will also be built to offer a wide range of water sports activities such as boating, jet ski and kayaking, a shophouse district, a resort hotel district, a town center, two 18-hole golf courses and clubhouse.
“The development’s key highlight is Lake Caliraya as the community revolves around the lakeside concept, inspired by The Hamptons New York, which has become a major vacation spot to America’s elite society. Aside from having an exclusive, upscale residential community, The Hamptons Caliraya is envisioned to be another tourist destination in the South,” Glenn Heraldo, vice president for sales and marketing of Megaworld Global-Estate Inc., said.
The village, which will have a close access to the lake and the proposed Marina Club development, will have its own clubhouse and a private marina.
Geri said the P8-billion programmed spending for The Hamptons Caliraya would be spread over the next 10 years.
The Hamptons Caliraya will be the 23rd township and integrated lifestyle community across the country of the Megaworld group and the 6th for Geri.
Geri, which develops integrated tourism estates, is currently developing the 561-hectare Southwoods City in the boundaries of Biñan, Laguna and Carmona; the 62 hectare Alabang West in Las Piñas City; the 1,200-hectare Twin Lakes near Tagaytay; the 150-hectare Boracay Newcoast; the 173-hectare Sta. Barbara Heights in Iloilo; and the 640-hectare Eastland Heights in Antipolo, Rizal.
Geri registered a net income of P1.11-billion in the first nine months of 2017, a growth of 47 percent from P754 million a year ago.
Consolidated revenues rose 11 percent to P4.89 billion from P4.41 billion in the same period last year.