Megaworld subsidiary launches new Ortigas residential development

Global Estate Resorts Inc., a subsidiary of billionaire Andrew Tan’s Megaworld Corp., is launching a new residential project in Pasig City, a statement showed.

Dubbed The Fifth, the project marks the fifth residential cluster to rise in the Renaissance community along Meralco Avenue near the Ortigas Business District. It will be completed by 2024 and is projected to generate some P8 billion in sales.

The 36-story residential project will offer units ranging from studio (up to 37 square meters), one-bedroom (up to 86 square meters), two-bedroom (up to 137 square meters) and three-bedroom (up to 229 square meters). All units will have their own balconies offering cityscape views of Ortigas, Quezon City and the Antipolo mountains.

“The Fifth will offer unique amenities that allow young professionals, start-up families and even millennials find time to slow down and relax at the end of each busy day. We are very excited about this new residential community,” said Karen Arcilla, who heads sales and marketing.

Geri reported earlier that net income soared to record high last year, growing 45 percent to P1.6-billion. More than 70 percent of its income came from residential sales.

The builder currently has five tourism estates and two integrated lifestyle communities across the country covering around more than 3,000 hectares of land.

These are 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 (62 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); and The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares).