Global-Estate Resorts Inc (GERI), the integrated tourism arm of business tycoon Andrew Tan, continues to gain ground riding on the backbone of integrated tourism and the momentum acquired from completed projects.
During its 2012 Stockholders Meeting held at Richmonde Hotel, Eastwood City, GERI presented its recent accomplishments and key strategic updates. Atty. Ferdinand T. Santos, President of GERI, announced that the company completed ten of its old subdivisions and with three (3) others nearing completion. These projects cover about 190 hectares in the areas of Baguio City, Bulacan, Batangas, Laguna and Naga City. GERI also reported the completion of its golf course in Forest Hills, Antipolo City, and the rehabilitation of its golf course in Fairways and Bluewater in Boracay. It launched three of its major projects in Boracay Newcoast: Newcoast Village, Boutique Hotel District, and Shophouse District.
According to Santos, GERI's sales and marketing efforts in 2011 generated P1.1 billion in terms of reservations sales. "Coming from our success in 2011, I am pleased to report that reservations sales for the first five months of 2012 blossomed to P3 billion. We are confident that we are on track to meeting a net income of P264 million by the end of this year," Santos added.
GERI likewise continued to take advantage of the rising popularity of tourism. As the pioneer of modern integrated tourism estates, GERI announced further developments regarding its two flagship projects - Boracay Newcoast and Twin Lakes.
Boracay Newcoast, the first and only master planned integrated tourism estate in Boracay, continued to showcase another first. Within its sprawling 140 hectare property will rise Oceanway Residences, the first condominium cluster in Boracay, and the latest residential phase of Boracay Newcoast. Oceanway Residences enjoys a prime location tucked between two fairway lots of the only golf course in the island. Atop a natural ridge, Oceanway Residences also offers views of Boracay Newcoast's one kilometer white beach.
Another upcoming development in Boracay Newcoast is Savoy Hotel expected to redefine the night scene in Boracay. As Boracay's first pool concert arena, Savoy Hotel will transform Boracay Newcoast as the Ibiza of Asia through various electronic dance music festivals and concerts. Part of the Savoy Hotel complex is a row of retail establishments with a 400 square meter dance roof deck overlooking the pool and bar area.
Boracay's tourism continues its record-breaking streak. During the first five months of the year, 616,210 tourists visited Boracay, representing a 43 percent rise compared to the 430,383 visitors during the same period in 2011. Boracay is expected to reach the one million mark by the end of 2012.
Twin Lakes in Laurel Batangas, the first vineyard resort community overlooking the famous Taal Volcano and Taal Lake, also showcased recent developments in its 1,149 hectare space. Included in its vineyard enclave will rise three condominiums aptly named, Shiraz, Merlot and Chardonnay. Due to its prime location beside an authentic chateau and vineyard, Twin Lakes promises an unmatched leisure and residential experience.
Twin Lakes intends to offer themed residential living beginning with Domaine Le Jardin. Nestled on a 50 hectare plot, Domaine Le Jardin is an exclusive residential village inspired by garden-laden attractions and botanical gardens. Through Domaine Le Jardin, Twin Lakes will introduce the first residential community to offer properties with specially built terrace lots.
GERI also announced further potential for growth beginning with Sta Barbara Heights in Iloilo. Located just two kilometers from Iloilo International Airport, Sta Barbara Heights is GERI's newest township community with its own tourism appeal.
Apart from various gated residential villages, the 165 hectare mixed-use estate will showcase an international business park, a sports complex with a world-class football field, and several areas for offices and shops. Connecting all the developments in Sta Barbara Heights is a four lane highway with bicycle lanes called Iloilo International Avenue. Phase two of Sta Barbara Heights Residential Estates was launched last May 2012.
"We remain upbeat on the long term prospects of tourism and the company. With our focus and expertise, GERI will truly seal its place as the leading developer of integrated tourism estates in the country," said Santos.
GERI is expected to develop over 1,000 hectares of prime land in Boracay, Tagaytay and Nasugbu, Batangas into world-class tourism estates.
The Department of Tourism reported visitor arrivals reached an all-time high of 1,148,072 during the first quarter of 2012, reflecting a 16% increase from last year's arrivals of 989,501 for the same period.
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