Geri earmarks P8B for Caliraya estate

Global-Estate Resorts Inc. (Geri), the leisure estate arm of Megaworld Corp., is shelling out P8 billion to develop a 300-hectare integrated residential, leisure and recreational estate surrounding Lake Caliraya in Laguna.

The lifestyle community called The Hamptons Caliraya, located in Lumban-Cavinti in Laguna, will have lakeside residential villages and villas, a town center, two 18-hole golf courses and a clubhouse and a Marina Club that will offer a wide range of water sports activities such as boating, jet ski and kayaking, as well as a shophouse district and resort hotel district.

The development will include The Hamptons Village, an 11-hectare lakeside residential village with lots ranging from 500 square meters to 2,100 square meters. The village, which will have access to the lake and the proposed Marina Club development, will have its own clubhouse and a private marina.

“The development’s 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,” said Glenn Heraldo, vice president for sales and marketing at Megaworld Global-Estate Inc.

The P8 billion projected capital outlays for The Hamptons Caliraya are expected to be disbursed in the next 10 years.

Aside from its strategic location fronting Lake Caliraya, the community is seen enjoying panoramic views of Mount Banahaw.

This project brings to 23 the township projects under tycoon Andrew Tan-led Megaworld Corp. Six of these are under the auspices of Geri in key tourism destinations such as Boracay, Tagaytay, Cavite-Laguna, Las Piñas City and Antipolo.