MANILA, Philippines – Global Estate Resorts Inc. (GERI), a subsidiary of Alliance Global Group Inc. (AGI), is spending P20 billion to develop the Twin Lakes tourism estate.
“(GERI) is actually infusing about P20 billion for the next five years in the development of Twin Lakes,” Erwin Francis Go, GERI’s vice president for sales and marketing told reporters in a briefing for the launch of the project.
The 1,149-hectare Twin Lakes overlooking Taal Lake, will be the first vineyard resort community in the country.
The project features a vineyard, commercial and retail hubs, residential villas and condominiums, a nature park as well as a university park.
Among the components of the project is the 177-hectare Vineyard community which comprises of an actual vineyard for growing grapes to be used to produce wine.
“We are devoting 10 hectares of land to develop purely the grapes which will be used in making wine,” Go said.
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The production of wine will be handled by Emperador Distilleries Inc., the food and beverage arm of AGI.
“That is what makes us stand out among all the developments. We are the only vineyard resort community and we have that vineyard as a take-off for the project,” Go noted.
The Vineyard community will also have a winery or chateau, as well as a hotel and resort.
Aside from the vineyard, GERI is developing the 1.3-hectare Shopping Village and 24-hectare Laketown Shore Center in Twin Lakes which will have commercial and retail shops.
For the residential component, GERI is developing the 76-hectare Domaine Le Jardin, which consists of 538 lots, ranging from 250 square meters (sqm) to 500 sqm, priced at P13,500 per sqm.
The three other residential village developments are Domaine Le Montagne, Domaine Le Soleil and Domain Du Lac.
The residential condominium project which occupies a 2.3-hectare lot meanwhile, will have three low-rise buildings: Merlot, Chardonnay and Shiraz, with an average of 77 units each.
Go said the three buildings will have 50 sqm. one-bedroom units priced at P7 million and 100 sqm two-bedroom unit worth P10 to 11 million.
“For the condos, we are targeting 2017 for the completion…For the entire Domaine Le Jardin, we are also targeting 2017,” Go said.
He also said Twin Lakes will have a 378.7-hectare nature park with tree nurseries and forest reserves while the 32-hectare university park will have lots available for schools and educational institutions.
Go said the firm hopes to capitalize on the high demand for vacation or leisure properties near Metro Manila through the Twin Lakes project.
“We’re doing things which other developers are not, like putting up this vineyard which is unique in the country…We have so many plans for the project,” he said.