MANILA – Global-Estate Resorts Inc. (GERI) has moved up the launch of the second and third phase of its residential project inside Southwoods City due to high demand.
The Andrew Tan-led developer said it launched the second and third phase of its Pahara village six months ahead of schedule because of brisk sales.
The 26-hectare residential village is almost 75 percent sold out following its launch three months ago.
The company is projecting P2 billion sales for the project.
The first phase of the project was sold out in a month, according to Megaworld-Global Estate Inc. vice president for sales and marketing Rachelle Penaflorida.
“The great location of Southwoods City is one of the primary reasons that our buyers would tell us why they prefer to purchase residential lots at Pahara,” she said in a statement.
GERI cited a study by third-party analyst Colliers International Research that says one of the primary reasons for the rapid growth of the Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) region is its growing population.
Calabarzon has a population of about 12.3 million, higher than National Capital Region’s 11.8 million.
“Growing population in the south will increase the demand for real estate, resulting in price appreciation. High applications for housing licenses demonstrate level of demand for the area,” the study says.
Southwoods City, a 561-hectare property in the boundary of Carmona, Cavite and Binan, Laguna, is being positioned as the next residential, business, commercial and leisure hub near Metro Manila.
Megaworld, GERI's sister company, will be in charge of the design, conceptualization, and masterplan of Southwoods City.
GERI is investing P10 billion over the next 10 years to develop the township.