Posted on
April 14, 2013 10:08:54 PM [ BusinessWorld Online ]
GLOBAL-ESTATE
Resorts, Inc., the tourism development arm of conglomerate Alliance Global
Group, Inc., has earmarked P20 billion up to 2018 for Twin Lakes, dubbed as a
vineyard resort community near Tagaytay City.
Describing
the project as the company’s “flagship tourism estate,” Erwin Francisco F. Go,
Global-Estate Resorts vice-president for Sales and Marketing, told reporters in
a briefing at Genting Club, Resorts World Manila in Pasay City on Thursday last
week: “We are infusing P20 billion for the next five years for the development
of Twin Lakes.”
Twin Lakes is
mixed-use project that will rise on a 1,149-hectare property 2,500 feet above
sea level in Laurel, Batangas, overlooking Taal Lake, according to a statement
last Thursday by Global-Estate’s marketing arm, Megaworld Global Estate, Inc.
“Demand in
Tagaytay is very high. There are so many clients looking for a destination near
Metro Manila, and Tagaytay offers that proposition.
Tagaytay has
a cool climate, and people naturally tend to look for leisure or vacation
properties there, so that’s what we’re capitalizing on,” Mr. Go told reporters.
Twin Lakes
will have four residential villages (Domaine Le Jardin, Domaine Le Montagne, Domaine
Le Soleil) totaling 76 hectares, two retail hubs (The Shopping Village and
Lakeshore Town Center) covering 25.3 hectares, and two parks measuring 410.7
hectares.
Twin Lakes
will also have a 177-hectare section, called The Vineyard, which will consist
of a grape vineyard, a winery, hotel and resort, sports club and spa, town
homes, and The Vineyard Residences, a 2.3-hectare condominium complex
consisting of three mid-rise buildings: eight-storey, 81-unit Merlot;
seven-storey, 70-unit Chardonnay; and five-storey, 59-unit Shiraz, the
statement read.
“Managed by
Emperador (Distillers, Inc., Alliance Global’s liquor unit), it (The Vineyard)
will be earning because it will have winery and we will be selling wines,” said
Harold C. Geronimo, strategic marketing & communications director at
Megaworld Corp., sister firm of Global-Estate Resorts.
“Mr. (Andrew
L.) Tan (Alliance Global chairman and chief executive officer) consulted
several top Spanish wine makers and vineyard owners last year or two years ago,
and a vineyard consultant already went to Tagaytay to check the area to see if
it is conducive for growing grapes. The vision of Mr. Tan is to make the finest
Filipino grape wines,” Mr. Geronimo added.
Structures at
Twin Lakes will start operations in phases, Mr. Go said during the briefing.
“For the
condominiums (The Vineyard Residences), we are targeting 2017, and for the
subdivisions as well,” he said.
“For The
Shopping Village and Lakeshore Town Center, we have already laid out the area.
By the end of 2013, we will have the complete structure ready, and by 2014 the
first (retail) locator will be ready.”
Global-Estate
Resorts was incorporated in 1994 as Fil-Estate Land, Inc.
under
Sobrepeña-led Fil-Estate Group of Companies. In 2010, it was acquired by
Alliance Global for P5 billion. -- F. J. G. de la Fuente
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