GERI unveils P1.8-B Boracay condo
By Business World
In a statement, the Megaworld Corp. subsidiary said it is developing Ocean Garden Villas in its 150-hectare property in the northeast part of Boracay island, after the first condominium, Oceanway Residences, saw brisk sales.
Ocean Garden Villas will feature low-rise, six-story villa inspired residential clusters with 225 units, ranging from one-bedroom to two-bedroom resort-type suites.
GERI said it looks to generate around P1.8 billion in sales from the project, which is targeted for completion by 2021.
“This new residential development will have close access to Newcoast’s private beach and natural coves facing the morning sunlight. We hope to provide our residents a new and refreshing take of living in one of the world’s best islands,” Jennifer Palmares-Fong, Boracay Newcoast vice-president for sales and marketing, was quoted as saying in a statement.
Ocean Garden Villas will have a lap pool, outdoor lounge deck, in-pool lounge, wading pool, outdoor spa, and a pavilion.
Along with the development of the project, GERI has implemented a sustainability program that would protect Boracay’s beaches and environment.
“Sixty percent of the entire Boracay Newcoast is devoted to green and open spaces. Once completed, we hope that the township, which will be the new side of Boracay that compliments the White Beach area on the other side, will serve as a model of sustainable development for a truly world-class island,” Ms. Palmares-Fong said.
Within the Boracay Newcoast township, GERI said it will establish its own Material Recovery Facility that would recycle waste materials collected in the area. It will also install detention/siltation tanks for storm drainage outfalls to arrest soil sediments and debris from storm run-off prior to disposal; and its own Sewage Treatment Plant that can recycle and produce non-potable water for irrigation and fire reserve.
The company will likewise install rainwater collection tanks in buildings, use electronic jeepneys for transportation within the township, and 100% LED and solar LED streetlights around the township.
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