Property developer Cebu Landmasters Inc. (CLI) has unveiled a new residential development targeting the mid-market segment in Dauis, Bohol, bringing P900 million worth of residential property inventory to the Visayas.
The new project, called Velmiro Greens Bohol, offers 204 units that are expected to be turned over by 2023, CLI disclosed to the Philippine Stock Exchange on Tuesday.
The development offers townhouse and single-detached units from 60 to 100 square meters at a price starting at P1.7 million to as high as P4 million.
The residential units will rise in a 3.6 hectare gated community strategically located near schools, malls, tourist spots, and other major establishments.
The Bohol project is CLI’s fourth carrying the Velmiro brand aimed towards mid-market buyers who accounted for 37 percent of the company’s total sales in 2019. Other Velmiro communities have been established in Cebu, Cagayan de Oro and Bacolod.
The Velmiro brand pitches generous open space with landscaped parks, a swimming pool, multi-level clubhouse with functions rooms, fitness gym, basketball court and playground.
“Our buyers feel they are getting great value for their money and this has resulted in good takeup rates across all our Velmiro projects,” said Jose Soberano III, CLI president and chief executive officer.