Global Estate Resorts Inc., a unit of property developer Megaworld Corp., said it expects to generate P1.8 billion in sales from its second residential development within the 150-hectare Boracay Newcoast in Boracay Island.
Global Estate said in a disclosure to the stock exchange the three-tower residential cluster called Ocean Garden Villas would offer 225 units ranging from one-bedroom to two-bedroom resort-type suites.
“This new residential development will have close access to Newcoast’s private beach and natural coves facing the morning sunlight. We hope to provide our residents a new and refreshing take of living in one of the world’s best islands,” Global Estate vice president of sales and marketing Jennifer Palmares.” Fong said. The project is due for completion in 2021.
The company expects to generate around P1.8 billion in sales from the new development.
“Sixty percent of the entire Boracay Newcoast is devoted to green and open spaces. Once completed, we hope that the township, which will be the new side of Boracay that complements the White Beach area on the other side, will serve as a model of sustainable development for a truly world-class island,” Palmares-Fong said.