Megaworld Corp. has allocated 8 billion Philippine pesos for its plan to develop a 300-hectare estate in the province of Laguna in the Philippines within the next decade, The Philippine Star reported.
Intended for the Lumban-Cavinti area in the province, The Hamptons Caliraya development will feature the 11-hectare Hamptons Village lakeside residence, a town center, two 18-hole golf courses and a clubhouse, according to the publication.
The Hamptons Caliraya, which was inspired by The Hamptons community in New York, will mark Megaworld's 23rd township and lifestyle community in the Philippines, the Dec. 11 report noted.
Aside from the new project, Megaworld is also working on the development of a new central business district in General Trias in Cavite province, which is expected to deliver up to 9 billion pesos in sales for the Filipino developer.
As of Dec. 8, US$1 was equivalent to 50.52 Philippine pesos.
