SEC lifts suspension order on Lakewood Golf & Country Club

Lakewood Golf & Country Club may now resume selling shares to the public after the Securities and Exchange Commission (SEC) lifted the suspension order on the membership club’s registration statement.

This after Lakewood submitted the transfer certificate of title over the 639,510-square meter property on which the membership club is located. The submission was intended to comply with SEC rules.

The property, owned by the NE Group and is being developed by Sta. Lucia Realty Development Inc., will be the first and only golf club to rise in Nueva Ecija.

Lakewood is currently developing an 18-hole all weather championship golf course with 16 man-made lakes and a computerized irrigation system, golf clubhouse and country club. The estimated development cost of the golf course alone is P922.92 million.

The golf course is now 60-percent complete while the golf clubhouse is 95-percent complete. The country club is still in the land preparation, planning and permitting stage.