Geri Press Release The Fifth.pdf

Megaworld’s GERI to build ‘The Fifth’ residential condo in Ortigas Projected sales from the new residential development to reach P8-billion

MANILA, Philippines, June 11, 2018 – Megaworld subsidiary Global-Estate Resorts, Inc. (GERI) is launching a new residential development in its Renaissance complex along Meralco Avenue, Ortigas Center in Pasig City. To be called The Fifth, it will be the fifth residential cluster to rise within the Renaissance community, in close proximity to the business district of Ortigas Center, and the cities of Quezon, Pasig, San Juan and Mandaluyong. It is strategically located right beside St. Paul’s College-Pasig and just less than 5 minutes away from the Asian Institute of Management, Poveda College, University of Asia and the Pacific, and The Medical City. Rising 36-storeys, The Fifth will offer units ranging from Studio (up to 37 square meters), onebedroom (up to 86 square meters), two-bedroom (up to 137 square meters) and threebedroom (up to 229 square meters). All units will have their own balconies offering cityscape views of Ortigas, Quezon City and the Antipolo mountains. The Fifth boasts abundant recreational amenities exclusive for its residents, which include the Sky Lounge and Viewing Decks, Cabanas, Al Fresco Bar, Lounging and Yoga Deck, outdoor playground, children’s playroom, fitness center, swimming pool, whirlpool bathtubs, function hall, coffee shop, spa and a CoLab Working Space. “The Fifth will offer unique amenities that allow young professionals, start-up families and even millennials find time to slow down and relax at the end of each busy day. We are very excited about this new residential community,” says Karen Arcilla, head of sales and marketing, Megaworld Global-Estate, Inc. The new residential development will generate around P8-billion in sales, and is expected for completion by 2024. GERI’s net income soared to record high last year, growing 45% to P1.6-billion. More than 70 percent of its income still comes from residential sales. GERI currently has five (5) tourism estates and two (2) integrated lifestyle communities 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 (62 hectares); Eastland Heights in Antipolo, Rizal (640 hectares); and The Hamptons Caliraya in Lumban-Cavinti, Laguna (300 hectares). ###