Megaworld, Fil-Estate in P5B Tagaytay project

MANILA, Philippines—Property developers Megaworld Corp. and Fil-Estate Land Inc. have teamed up to develop 1,149 hectares of land in Tagaytay into a world-class tourism-oriented community called Twin Lakes, the companies said in a joint statement.

In a disclosure to the Philippine Stock Exchange, the companies said that Fil-Estate had just commenced the master-planning of the project, which would offer resort estates overlooking its own private lake and the scenic Taal Lake.

The cost of the initial phases was estimated to exceed P5 billion.

“The entire community will be developed by phases and will become the country’s most integrated tourism estates,” Fil-Estate vice president Sylvia Hondrade said in the statement.

The initial phases of the development will host a luxury hotel, residential villas and condominiums, a shopping village, botanical garden, sports and country club, and plantation estates.

Tags: fil-estate, megaworld