MEGAWORLD CORP. subsidiary Global-Estate Resorts, Inc. (GERI) has allocated P5 billion to develop the 116-hectare Nascala Coast beachside township in Nasugbu, Batangas over the next five years.
Set to become Megaworld’s 36th township, Nascala Coast will feature residential villages, beachside condominium clusters, commercial hubs, and leisure destinations, GERI said in a regulatory filing on Thursday. GERI is Megaworld’s tourism and leisure township development arm.
The estate will offer views of Nasugbu Bay and nearby mountain ranges, and will include commercial lots, mixed-use centers, and town centers intended to support leisure, lifestyle, and investment activities.
The site is accessible via the South Luzon Expressway (SLEX), Manila-Cavite Expressway (CAVITEX), and the Ternate–Nasugbu Highway, GERI said.
“Nascala draws its name from ‘Nasugbu,’ the picturesque municipality in Batangas where it rises, and the Spanish word escala, meaning ‘climb’ — a fitting nod to its elevated setting near the coast. This township captures the essence of Nasugbu’s distinct allure, where unspoiled beaches, breathtaking mountain vistas, and a deep cultural heritage converge,” GERI President Monica T. Salomon said.
“More than just a destination, Nascala Coast is envisioned as a thriving coastal address where tourists can enjoy the best of nature and generations of families can flourish,” she added.
During GERI’s annual stockholders’ meeting on Thursday, Ms. Salomon said the company plans to expand its development footprint this year.
Alongside the Nascala Coast estate, she said GERI is preparing to launch a 112-hectare mixed-use township in Cagayan de Oro City.
Ms. Salomon said the company is also on track to complete three condominium clusters this year in Southwoods City on the Laguna-Cavite boundary and Twin Lakes in Laurel, Batangas. It also plans to complete a lakeside commercial development in Hamptons Caliraya, and additional residential lots in Alabang West Village in Las Piñas and Newcoast Village in Boracay.
On Thursday, GERI shares rose by 1.72% or one centavo to 59 centavos apiece, while Megaworld shares increased by 1.11% or two centavos to P1.82 each. — Revin Mikhael D. Ochave
