Megaworld unit expects P1.4-B sales from Tanza project

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MEGAWORLD CORP. subsidiary Global-Estate Resorts, Inc. (GERI) recently launched a 17-hectare residential project in its Arden Botanical Estate in Tanza, Cavite, where it expects to raise P1.4 billion in sales from the project’s first phase.

In a statement Wednesday, the Andrew L. Tan-led tourism and leisure developer said it introduced the residential village The Lindgren located within the 251-hectare Arden Botanical Estate.

The project has 123 prime lots with sizes ranging from 159 square meters to 252 square meters priced between P10 million and P13 million.

GERI said it designed the property such that 40% of the entire village will be comprised of green and open spaces. It will have amenities such as a multi-purpose hall, fitness center, adult pool, kiddie pool, Jacuzzi, sauna, daycare center, children’s playground, multi-purpose court, outdoor bar and cabana, convenience store and collab space.

“Our concept is to make everyone feel the community vibe. There will be several areas for personal relaxation and socialization where community members can work, play, and grow together,” Megaworld Global-Estate, Inc. Head of Sales and Marketing Rowena Espiritu was quoted in the statement as saying.

The house and lots are scheduled for turnover starting 2025.

GERI said the design of The Lindgren is in line with its plan to have half of the entire Arden Botanical Estate allocated for residential developments, and the remaining half for commercial, institutional, recreational and open spaces.

Megaworld and GERI, the co-developers of Arden Botanical Estate, have committed to spend P18 billion to develop the township over the next 15 years. It is the 25th township of Megaworld and the seventh under GERI.

Shares in GERI at the stock exchange slipped 2 centavos or 1.72% to P1.14 each on Wednesday, while shares in Megaworld increased P0.12 or 2.88% to P4.29 each. — Denise A. Valdez