Megaworld's GERI to build second tower in Southwoods

ABS-CBN News

Posted at Feb 26 2019 11:21 AM

A render of the Apricot and Burgundy Towers at Tulip Gardens in Southwoods City. Handout

MANILA - Megaworld Corp said Tuesday its subsidiary Global-Estate Resorts Inc (GERI) would build a second tower within its 561-hectare Southwoods City development in Laguna province, which is expected to generate P1.3 billion in sales.

The Burgundy Tower in Tulip Gardens will be 22-storeys high with 361 residential units, ranging from 24.5 square meters to 41.5 sqm, Megaworld said in a disclosure to the stock exchange.

"The interest of buyers in Southwoods City is overwhelming and this has been the trend since we introduced our first residential development, the Holland Park, 3 years ago," said Megaworld Global-Estate Inc vice president for sales Rachelle Peñaflorida.

The Burgundy Tower is expected to be completed by 2024,