Last December 2010, Tycoon Andrew Tan-led Alliance Global Group Inc. (AGI) has signed a P5-billion deal to secure a 60-percent stake in property developer Fil-Estate Land Inc. This gave AGI access to more property suitable for tourism-oriented developments.
Read more on related article HERE.
Early this year, Andrew Tan’s property developing firm Megaworld Corporation, announced their joint project with Fil-Estate Land, Inc. called Twin Lakes, a masterplanned 1,149-hectare world-class tourism-oriented community in Tagaytay City. Read disclosure HERE.
With this development, a lot of questions are being raised as to what will happen to Fil-Estate’s Mountain Meadows Subdivision project in Cagayan de Oro City. Mountain Meadows is a 287-hectare (I’m not sure of the figure though) masterplanned community in the upper Gusa area bordering Indahag. This is a vast plateau overlooking Macajalar Bay.
All the civil works for Phase 1 have been completed including the paved roads and drainage system. Unfortunately, land issues affected the project and eventually, the next phases were discontinued. However, you can still pass through the subdivision leading to Indahag proper. In fact, mountain bikers often use this route.
As shown below, this area is very proximate to Ayala Land’s Alegria Hills. Opening up Mountain Meadows will create another diversion road towards JR Borja Extension. Some google-earth screenshots below.
By the way, Mountain Meadows also has a commercial component with lots just beside Regional Science High School along JR Borja Extension. Hopefully, this project will finally be given due course.