GLOBAL-ESTATE Resorts Inc. (GERI) grew its profit in 2019 by 11 percent to P1.9 billion, from P1.7 billion the previous year.
Revenues increased 12 percent to P8.5 billion, from P7.5 billion in 2018.
Real estate sales amounted to P6.1 billion, coming from the sale of condominium units as well as residential and commercial lots in Boracay Newcoast, Twin Lakes and Southwoods City.
The company said it posted sales reservation of P19 billion.
Revenues from leasing operations rose 75 percent to P747 million, from P427 million the prior year, while hotel revenues jumped 263 percent to P814 million, from P224 million the previous year.
“Our available residential inventory in our various tourism townships, which are mostly in the provinces such as Southwoods City, Boracay Newcoast, Eastland Heights, Sta. Barbara Heights, Arden Botanical Estate, and Hamptons Caliraya, will allow us to sustain our real estate sales moving forward. These developments outside Metro Manila provide residential buyers with the needed breathing space and fresh air in natural surroundings — which are what most buyers and investors are looking for right now,” said Monica Salomon, GERI president.
Currently, GERI has eight integrated tourism developments across the country covering more than 3,300 hectares of land.
These are Twin Lakes in Laurel, Batangas (1,200 hectares); Southwoods City in Biñan, Laguna and Carmona, Cavite (561 hectares); Alabang West in Las Piñas City (62 hectares); Boracay Newcoast in Boracay Island, Aklan (150 hectares); Sta. Barbara Heights in Sta. Barbara, Iloilo (173 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares); and Arden Botanical Estate at the boundary of Trece Martires and Tanza in Cavite (251 hectares).
