Global Estate Resorts, Inc.
Megaworld’s GERI Q1 Net Income up 50%

MANILA, Philippines, May 10, 2017 – Megaworld’s subsidiary, Global Estate Resorts Inc. (GERI),
the country’s biggest developer of integrated tourism estates, continues its growth momentum
this year as first quarter net income soared 50% to P315‐million from P209‐million during the
same period last year.

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GERI’s 9M Net Income Up 47% to P1.11B Residential, rental revenues soar to record high

MANILA, Philippines, November 6, 2017 ‐ Global‐Estate Resorts, Inc. (GERI), a subsidiary of property giant Megaworld, finished the first nine months of 2017 with a P1.11‐billion net income performance, a growth of 47% from its P754‐million output during the same period last year. Likewise, net income attributable to parent company’s shareholders posted a 70% growth from P666‐million in the first three quarters of last year to P1.13‐billion during the same period in 2017.

GERI’s consolidated revenues reached P4.89‐billion during the first three quarters of 2017, up 11% from P4.41‐billion during the same period the previous year.

GERI, the Philippines’ largest developer of integrated tourism estates, attributed its strong results both from its strong residential business as well as to its consistently growing rental business.

“We are on track in our goal to complete all of our residential projects on‐time so that we can achieve zero backlog in the turnover of units. With this, we do not only satisfy the timeline of our customers, but also recognize profits because of construction progress,” says Monica Salomon, president, GERI.

Comprised of all residential‐related revenues, GERI’s residential segment posted a 12% growth from P3.81‐billion in the first nine months of 2016 to P4.27‐billion during the same period this year.

GERI also recorded excellent growth in its rental business during the period. From P65‐ million during the first three quarters of 2016, GERI’s rental income grew 28% year‐onyear to finish at P83‐million during the same period this year.

“The recent opening of Southwoods Mall in Laguna was a milestone for us. We have seen thousands of people lining up during our opening day. This new mall is certainly going to be a ‘go‐to’ destination in the south being the first big mall to rise after Alabang along SLEX,” explains Salomon.

Situated within GERI’s 561‐hectare Southwoods City in the boundaries of Biñan, Laguna and Carmona, Cavite, Southwoods Malls offers 58,000 square meters of shopping, dining, entertainment, and leisure just 30 minutes away from Makati City and Fort Bonifacio. It features a 24‐hour Food Hall, four state‐of‐the‐art cinemas, a department store, supermarket, hardware store, toy store and its own transport hub.

Aside from Southwoods City, GERI currently has four more integrated tourism developments around the country: Alabang West in Las Piñas City (62 hectares); Twin Lakes near Tagaytay (1,200 hectares); Boracay Newcoast in Boracay Island (150 hectares); Sta. Barbara Heights in Iloilo (173 hectares); and Eastland Heights in Antipolo, Rizal (640 hectares.)

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GERI investing P8B in Hamptons-inspired project

GLOBAL-ESTATE Resorts, Inc. (GERI) is pouring in P8 billion for the development of its second integrated lifestyle community in Laguna over the next 10 years.

In a statement issued over the weekend, the leisure and tourism arm of Megaworld Corp. said the project called The Hamptons Caliraya will cover 300 hectares in Lumban-Cavinti, Laguna.

Surrounding Lake Caliraya, the development will feature residential villages and villas, a town center, two golf courses, clubhouse, shophouse district, resort hotel district, and a Marina Club. 

“The development’s key highlight is Lake Caliraya as the community revolves around the lakeside concept, inspired by The Hamptons New York, which has become a major vacation spot to America’s elite society,” Megaworld Global Estate, Inc. Vice-President for Sales and Marketing Glenn Heraldo was quoted as saying in a statement.

This will be the company’s second development in Laguna, as it has already established presence in the area through the 561-hectare Southwoods City along the boundaries of Biñan, Laguna and Carmona, Cavite.

One of the anchors of the estate will be The Hamptons Village, an 11-hectare lakeside residential village that will offer lots between 500 square meters (sq.m.) to 2,100 sq.m. GERI also noted the village will have close access to the lake and the Marina Club development, aside from having its own clubhouse and private marina.

“Aside from having an exclusive, upscale residential community, The Hamptons Caliraya is envisioned to be another tourist destination in the South,” Mr. Heraldo said.

The Hamptons Caliraya marks Megaworld’s 23rd township in the country, and the sixth being developed by GERI. The company’s previous projects are located in Boracay, Tagaytay, Cavite-Laguna area, Las Piñas City, and Antipolo.

Prior to The Hamptons Caliraya, GERI also announced that it will allocate an additional P4.5 billion for its Twin Lakes project in Tagaytay, pushing the total investment plan for the 1,200-hectare development to P7 billion. The company said this will help them fast-track development in the next four years. 

GERI reported a 70% increase in net income attributable to the parent for the nine months ending September to P1.13 billion, against the P666 million posted in the same period last year. This was driven by an 11% jump in revenues to P4.89 billion as the developer saw robust take-up in residential projects.

GERI’s parent Megaworld Corp. is the property development arm of tycoon Andrew L. Tan, who also has businesses in liquor, gaming, and quick service restaurants. 

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Land prices in Megaworld’s Alabang project rose 50%

PRICES of lots in Alabang West Village of Megaworld Corp.’s unit Global-Estate Resorts Inc. (GERI) have gone up by as much as half, just a little over three years after its launch, the company said.

From P47,000 per square meter in November 2014, Alabang West Village lots are now being sold at P70,868 per sqm.

The entire village, composed of 788 prime residential lots with a combined current value of around P14 billion, is now 90-percent sold.

“We see property values in Alabang West to even double within five years as we witness this side of Alabang to be growing rapidly,” said Rachelle Peñaflorida, vice president for sales and marketing, Megaworld Geri. In 2016 independent research firm Cuervo Far East identified the Southern Manila West Growth Area, which includes Alabang, to experience average annual appreciation of property prices by around 10 percent to 15 percent due to new developments within the area. Earlier this year, Geri has started the turnover of the residential lots of Alabang West Village as as it also ramps up the development of the 12.3-hectare commercial area inside the the 62-hectare Alabang West township.

To be called Rodeo Drive, the 1.2-kilometer stretch will have rows of commercial and retail establishments. A major mixed-use development is also set to rise at the southernmost part of the township. Within the first half of this year, Landers Superstore will open on a 2-hectare property within Alabang West, the first Landers store in the southern part of Metro Manila.

Beside Alabang’s high-end communities and golf course, the township is accessible through major access points in South Luzon Expressway, including Alabang Exit, Filinvest Exit, and the newly opened Daang Hari Exit.


Global-Estate Resorts net income up 45% to P1.6 billion in 2017

The increase comes as the residential sales of the Megaworld subsidiary grew 4% to P4.5 billion, while income from rentals was up 54% to P161 million

MANILA, Philippines – Listed Global-Estate Resorts Incorporated (GERI), Megaworld Corporation's integrated tourism and leisure brand, saw its bottom line rise in 2017 on strong real estate sales.

GERI reported a full-year 2017 net income of P1.6 billion, including P113 million in non-recurring gains, to the Philippine Stock Exchange (PSE) on Monday, April 2.

The figure is up 45% from its 2016 net income of P1.1 billion, which included P82.5 million in non-recurring gains.

Net income attributable to parent company, meanwhile, totaled P1.5 billion in 2017, up 56% from the P966 million in 2016.

GERI attributed the rise to real estate sales, which it noted comprised more than 70% of the business.

Residential sales grew to P4.5 billion in 2017, up 4% from P4.4 billion in 2016, which the firm attributed mostly to its residential projects in Alabang West, Boracay Newcoast, and Twin Lakes.

Income from rentals, meanwhile, totaled P161 million, up 54% from P105 million. GERI opened its first full-scale mall in 2017, the P2-billion Southwoods Mall at Southwoods City in Biñan, Laguna, under the Megaworld Lifestyle Malls brand.

The firm also launched the P8-billion, 300-hectare The Hamptons Caliraya in Laguna, which includes 11 hectares of residential lots, last year.

GERI currently has 5 tourism estates and two integrated lifestyle communities covering around 3,000 hectares.

"In the next 3 years, we will be introducing more integrated lifestyle communities where nature becomes the focal point of our developments," GERI president Monica Salomon said in a statement.

Andrew Tan-led Megaworld consolidated its controlling interest in GERI by upping its stake in the firm to 80.4% from 25.76% in 2014.


GERI Q1 earnings up 27% as rental revenues tripled

MANILA, Philippines — Global Estate Resorts Inc. (GERI), Megaworld’s subsidiary that develops integrated tourism and leisure estates, has sustained its growth momentum this year as first quarter earnings soared 27 percent to P399-million from P315-million during the same period last year.

Net income attributable to parent company ended at P407-million, up 25 percent from P326-million during the same period last year. Consolidated revenues for the first quarter of 2018 amounted to P1.66-billion, which tallies similarly from its output about the same time 2017.

GERI’s rental Income for the first three months of the year tripled to P87-million from P27-million during the same period in 2017 as the company opened Southwoods Mall, its first full-scale mall, in Biñan, Laguna.

The three-level Southwoods Mall offers 58,000 square meter of gross floor area and features innovative contemporary design with touches of interior greenery, a 24-hour Food Hall, four state-of-the-art cinemas, supermarket, hardware store, toy store and a roof deck garden.

“We remain focused to our goal of reaching P650 million in recurring revenues by 2020. In the next two years, we are opening more commercial and retail spaces across our tourism and leisure townships across the country in order to achieve this goal,” GERI president Monica Salomon said.

Late last year, GERI launched its second “integrated lifestyle community,” the 300-hectare The Hamptons Caliraya, in Lumban-Cavinti, Laguna. The community will have lakeside residential villages and villas, a town center, a Marina Club and two 18-hole golf courses and clubhouse.

At The Hamptons Caliraya, the company launched its first residential village, The Hamptons Village, which offers lots that have their own private marina and close access to Lake Caliraya.

Aside from The Hamptons Caliraya, GERI has six other tourism and leisure estates across the country covering around more than 3,000 hectares of land: Boracay Newcoast in Boracay Island, Aklan (150 hectares); Twin Lakes in Alfonso, Batangas near Tagaytay (1,200 hectares); Southwoods City on the boundaries of Carmona, Cavite, and Biñan, Laguna (561 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Alabang West in Las Piñas City (62 hectares) and Eastland Heights in Antipolo, Rizal (640 hectares).


GERI expects P1.2 billion in sales from residential condo in Laguna

GLOBAL-ESTATE Resorts, Inc. (GERI) expects to generate P1.2 billion in sales from its newly launched residential property in Southwoods City in Laguna, following the strong take-up for its first project in the estate.

The leisure and tourism subsidiary of Megaworld Corp. said in a statement over the weekend that it will be launching Tulip Gardens, a 22-storey residential condominium project in Southwoods City in Biñan, Laguna.

The development will offer studio units covering up to 28.5 square meters (sq.m.) and one-bedroom units reaching up to 41 sq.m., for a total of 372 units spread out over five mid-rise buildings.

Amenities include jogging paths, picnic areas with cabanas and pavilions, indoor playroom, two outdoor playgrounds, a fitness center, a lap pool, a kiddie pool, and a multipurpose hall.

Some units will also have their own lanai which can give residents a view of Southwoods City, Laguna, and Cavite.

“Tulip Gardens is an innovation in residential high-rise living, where leisure and relaxation take center stage in a community setting. We are providing more amenities so that our residents will feel like they live in a resort,” Megaworld Global-Estate, Inc. Vice-President for Sales and Marketing Mary Rachelle I. Peñaflorida said in a statement.

The newest development inside Southwoods City will be located near the newly opened Southwoods Mall and the Sto. Niño de Cebu Parish, and can be accessed through the Southwoods exit of the South Luzon Expressway.

The listed firm targets to complete the project by 2023.

Tulip Gardens is GERI’s second residential project in Southwoods City, following the launch of Holland Park back in 2014. The company said Holland Park has so far sold P2.7 billion worth of units from its four towers.

“The spike in the demand for residential condo units in Southwoods City was a big surprise considering that the township has been known for its vast horizontal residential villages like Pahara,” Ms. Peñaflorida said, referring to the 26-hectare upscale residential village inside Southwoods City that was launched in 2014.

The GERI executive added that they have so far sold out more than 600 units of Holland Park, and that “the demand for more units continues to grow.”

Southwoods City is a 561-hectare township of GERI’s sister firm Megaworld, which is being positioned as the next central business hub outside Metro Manila.

GERI booked P406.9 million in net income attributable to the parent during the first quarter of 2018, up by a fourth than the P325.8 million it realized during the same period a year ago. Revenues, meanwhile, were flat at P1.66 billion.


GERI’s 1H Net Income Up 18% to P794M


Rental revenues boost GERI’s first-half profit

GLOBAL-ESTATE Resorts, Inc. (GERI) posted an 18% attributable profit growth during the first six months of 2018, driven by a surge in rental revenues after it opened its first full-scale mall in Laguna.

In a statement issued Tuesday, the leisure and tourism estate developer of tycoon Andrew L. Tan saw net income attributable to equity holders of the parent climb to P794 million for the first semester, compared to the P670 million it realized in the same period a year ago.

Consolidated revenues likewise rose five percent to P3.3 billion for the period.

GERI attributed the positive results to the performance of Southwoods Mall, its first full-scale mall inside its tourism estate Southwoods City in Laguna. Rental revenues jumped by 218% during the January to June period, reaching P177 million compared to the P56 million recorded in the same period a year ago.

“After launching Southwoods Malls, we are gearing up to launch more lifestyle malls and retail concepts in the coming years,” GERI President Monica T. Salomon was quoted as saying in a statement.

By 2020, the company expects to expand its rental income to reach P650 million as it opens more lifestyle malls.

GERI also reported an eight percent growth in residential sales to P2.8 billion in the first half.

GERI currently has residential projects inside its integrated lifestyle communities and townships, namely Alabang West in Las Piñas City spanning 62 hectares, Hamptons Caliraya surrounding Lake Caliraya in Laguna covering 300 hectares, the 1,200-hectare Twin Lakes in Tagaytay, the 150-hectare Boracay Newcoast in Boracay Island, the 173-hectare Barbara Heights in Iloilo, and the 640-hectare Eastland Heights in Rizal.

“The ‘integrated lifestyle community’ concept resonates well to our market in pushing our residential offerings. We expect to see more of this pioneering concept in our other properties soon,” Ms. Salomon said.

GERI is part of Mr. Tan’s Alliance Global Group, Inc., which also has core investments in liquor through Emperador, Inc., gaming through the operations of Resorts World Manila, and quick service restaurants through Golden Arches Development Corp. — the local franchisee of the McDonald’s brand.


...earnings report

Rental revenues drive GERI income 8% higher in Q3

GLOBAL-ESTATE Resorts, Inc. (GERI) grew its attributable profit by eight percent in the third quarter of 2018, as rental income more than tripled during the period.

In a regulatory filing, the leisure and tourism estate arm of Megaworld Corp. reported a net income attributable to equity holders of the parent of P479.95 million, higher than the P442.74 million it posted in the same period a year ago.

This followed a 12% uptick in revenues to P1.93 billion, as the 322% surge in rental income to P117.42 million offset the flat performance of its real estate sales at P1.25 billion.

On a nine-month basis, GERI’s attributable profit improved by 14% to P1.29 billion, on the back of a seven percent increase in revenues to P5.25 billion.

The residential unit accounted for bulk of GERI’s revenues at P4.43 billion, seven percent higher year-on-year. The company benefited from the renewed interest in Boracay Island following its six-month rehabilitation, as well as its development near Tagaytay.

“We have seen really good take-up in Boracay Newcoast in the last few months, especially after the announcement of the island’s rehabilitation and reopening. We have also seen very keen interest in our Twin Lakes development,” GERI President Monica T. Salomon said in a statement.

The company owns the 150-hectare Boracay Newcoast in the famous tourist destination. It recently opened Savoy Hotel in the area, with Belmont Hotel Boracay and Chancellor Hotel Boracay slated to open in the next two years.

Twin Lakes is GERI’s largest tourism estate, covering around 1,200 hectares of land near Tagaytay.

Meanwhile, the company’s rental income surged by 253% to P294 million, compared to the P83.43 million recorded in the same period a year ago.

“This is another banner year for our leasing operations… We look forward to new commercial spaces in Holland Park and in Southwoods Office Towers 1 & 2, as these will further sustain our momentum in our rental income next year,” Mr. Salomon said.

GERI currently has seven integrated tourism developments in the country. Aside from Boracay Newcoast, Twin Lakes, and Southwoods City in Laguna, Sta. Barbara Heights in Iloilo, Eastland Heights in Antipolo, Rizal, and Hamptons Caliraya in Cavinti, Laguna.

The company is part of the property business of tycoon Andrew L. Tan, who also has investments in liquor through Emperador, Inc., gaming through Travellers Hotel International Group, Inc., and quick service restaurants through Golden Arches Development Corp.

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