Wednesday, June 4, 2014
Cebu Landmasters Inc (CLI) has announced plans to develop 200 000 square meters of floor area in Cebu and Cagayan de Oro. They have set aside an initial investment of P5 billion for mixed-use properties. These planned properties include a condo and residential development in Mandaue and a housing project in Cagayan de Oro.
CLI has completed five projects and has seven ongoing projects since the company started in 2004. They first developed residential village, San Maria Jose Village in Balambam, in order to provide low to mid cost quality homes. In 2010, they launched the first residential condominium in Asiatown IT Park, the “Asia Premier Residences.”
CLI is set to turn over 1 600 residential house and lot units for various developments in Balamban, Minglanilla, Toledo and Talisay in the next two years. Other plans include fast-tracking their Mivesa project's development program from five years to three years, and to start selling the units of one of the property's buildings.
Soberano credits the boom of the local BPO sector, expansion in the middle class segment and an overall healthy economic status of the country for the company’s aggressive expansion to the growing demand in housing.