Newly listed property developer Cebu Landmasters Inc. (CLI) plans to bring P10.6 billion worth of inventory to the Visayas and Mindanao property markets for the remainder of the year, bringing up the value of product launches for the full year to P17.7 billion.
CLI seeks to strengthen its foothold in Visayas and Mindanao by rolling out 14 more projects this year in Sibulan (Negros Oriental), Bacolod (Negros Occidental), Iloilo, Cebu, Davao and Cagayan de Oro.
In the first half of the year, CLI launched P7.09 billion worth of projects.
“The real estate market in the Visayas and Mindanao (Vis-Min) continues to thrive. Our vertical and horizontal project launches are proudly spread out across the most progressive markets in the region. Our expansion to these key VisMin cities of Cagayan de Oro, Davao, Bacolod, Iloilo and Dumaguete is a strong indication of our positive outlook. We are also banking on our expertise and know-how as a homegrown player from VisMin,” CLI chief operating officer Franco Soberano said in a statement yesterday.
CLI is set to introduce two more hotels in its mixed-use projects in Cebu City in addition to its first hotel Citadines by Ascott. It will also build a “hip and modern” 150-room hotel catering to the millennial market while its third hotel will rise in a mixed-use development called Astra Centre.
The property firm also plans to expand its economic housing brand Casa Mira, offering more than 7,000 additional housing units as it expands to four more locations. Casa Mira Coast in Sibulan, Negros Oriental, will have 543 units; Casa Mira in Iloilo City, 526 units; Casa Mira Granada in Bacolod, 637 units, and Casa Mira Towers Guadalupe in Cebu City, 727 units.
In the mid-end segment, a project called MesaVirre Garden Residences will be built in Bacolod City. Like its mid-end residential condominiums in Cebu, MesaVirre will highlight landscaped open areas and other generous garden-inspired amenities.