Global Estate Resorts Inc. (GERI), Megaworld’s subsidiary that
develops integrated tourism and leisure estates, has sustained its growth
momentum this year as first quarter earnings soared 27% to P399‐million from
P315‐million during the same period last year. Net income attributable to
parent company ended at P407‐million, up 25% from P326‐million during the same
period last year.
Consolidated revenues for the first quarter of 2018 amounted
to P1.66‐billion, which tallies similarly from its output during the same
period last year. GERI’s rental Income for the first three months of the year
tripled to P87‐million from P27‐million during the same period in 2017 as the
company opened Southwoods Mall, its first full‐scale mall, in Biñan, Laguna.
The three‐level Southwoods Mall offers 58,000 square meter
of gross floor area and features innovative contemporary design with touches of
interior greenery, a 24‐hour Food Hall, four state‐of‐the‐art cinemas,
supermarket, hardware store, toy store and a roof deck garden.
Southwoods Mall |
“We remain focused to our goal of reaching P650 million in
recurring revenues by 2020. In the next two years, we are opening more
commercial and retail spaces across our tourism and leisure townships across
the country in order to achieve this goal,” says Monica Salomon, president,
GERI.
Late last year, GERI launched its second ‘integrated
lifestyle community’, the 300‐hectare The Hamptons Caliraya, in Lumban‐Cavinti,
Laguna. The community will have lakeside residential villages and villas, a
town center, a Marina Club and two 18‐hole golf courses and clubhouse.
At The Hamptons Caliraya, the company launched its first
residential village, The Hamptons Village, which offers lots that have their
own private marina and close access to Lake Caliraya.
Aside from The Hamptons Caliraya, GERI has six other tourism
and leisure estates across the country covering around more than 3,000 hectares
of land: Boracay Newcoast in Boracay Island, Aklan (150 hectares); Twin Lakes
in Alfonso, Batangas near Tagaytay (1,200 hectares); Southwoods City on the
boundaries of Carmona, Cavite, and Biñan, Laguna (561 hectares); Sta. Barbara
Heights in Sta. Barbara, Iloilo (173 hectares); Alabang West in Las Piñas City
(62 hectares) and Eastland Heights in Antipolo, Rizal (640 hectares).
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