Saturday, July 11, 2009 [ manilatimes.net ]
THE high-end property firm of mall tycoon Henry Sy has acquired a big property in Canlubang, Laguna, that is adjacent to its maiden project.
In a statement, Highlands Prime Inc. (HPI) said it bought the 342-hectare property, adjacent to Canlubang Golf Club, and extended this up to its Hillside Village inside the Tagaytay Highlands.
HPI, however, failed to disclose the acquisition cost, saying it will announce the amount during the annual stockholders meeting at the end of the month.
Antonio Henson, HPI president said the development of the property will enhance the profitability of the company and strengthen its position as a major player in the property market.
“The property is conducive to the type of upscale development that HPI does given its very scenic location as it overlooks natural tourist attractions such as Laguna de Bay and Mount Makiling, among others,” Henson said.
HPI said it intends to develop the property into a meticulously master planned, ecologically-friendly community that offers high-end primary homes and commercial centers with world-class amenities.
The company is preparing a shortlist of foreign and local firms, which it will tap to undertake a master plan for the project. The initial phase of the project is expected to be launched by the end of this year.
HPI also said there is an ongoing development of residential communities inside the Tagaytay Highlands and the Midlands complex.
The company is set to launch Phase 2 of The Woodridge Place with three- and four-bedroom condominium units, Phase 2 of The Horizon at Tagaytay Midlands, which covers the construction and sale of two- to three-bedroom townhouses.
The IL Piazza at Milago, an Italian style complex that overlooks the famed Taal Volcano, and the Cliff at Hillside, a mid-rise condominium project, are also scheduled for launching this year.
-- Chino S. Leyco