BIZ BUZZ: The Farm gets new investor
Luxury wellness and holistic medical resort The Farm at San Benito may have just reached its biggest milestone to date.
We heard that the resort, which sits on a 52-hectare tract of land in Lipa, Batangas, has found a potential partner in Andrew Tan and his real estate development company Megaworld Corp. to develop a portion of its sprawling property that remains flat and surrounded by trees and plantation.
Megaworld has been big on investing in tourism ventures, having launched the 462-hectare Paragua Coastown in San Vicente, Palawan, last year as its first eco-tourism township.
The company also owns several large developments in major tourist destinations across the Philippines, including the 150-hectare Boracay Newcoast on the island of Boracay and the 1,200-hectare Twin Lakes in Laurel, Batangas, near Tagaytay.
Both these properties are developed and managed by its subsidiary Global-Estate Resorts Inc., which was hailed the “Best Lifestyle Developer,” both at the Philippines Property Awards and the Asian Property Awards by PropertyGuru in 2022.
All of these underscore Megaworld’s expertise in luxury property development, and the company looks set on elevating the project with The Farm to a whole new level in terms of design and amenities.
The project will provide a boost to the country’s medical tourism industry, which happens to be among the Marcos administration’s focus sectors at the moment.
Thailand has been enjoying a strong inflow of tourists, businesses, and revenue from this sector, and the Philippines is looking to earn a slice of this pie once this project comes to fruition.
San Benito in Lipa is situated on an elevated area, which means visitors—and soon, residents—of The Farm enjoy really good weather, particularly during the cold months. This was probably among the reasons why the resort destination was named the “Best Eco-Luxury Holistic Medical Wellness Resort” at the Southeast Asia Business Awards last year. This unique attribute will make the property more appealing for those who can afford the price tag for this still-unnamed project with Megaworld.
No formal plan has been drawn up yet although the two groups are apparently looking to build a first-of-its-kind luxury wellness community within The Farm’s property.
Let’s see what kind of development will emerge from this mega partnership.
