[ bworldonline.com ]
By Anna Gabriela A. Mogato
LISTED property developer Cebu Landmasters, Inc. (CLI) will be
exploring estate development as it seeks to firm up its market
leadership in Visayas and Mindanao.
In a disclosure to the Stock Exchange on Tuesday, CLI said that it
has already set its sights on developing 200 hectares of land across
Cagayan de Oro, Cebu, Davao, Mactan, and Mandaue.
This comes after the company had “successfully ventured into
horizontal and vertical residences, offices, hotels, and mixed-used
properties,” CLI CEO Jose Soberano III said.
“We are now ready to get into large scale estate developments to fortify our presence and leadership in the region,” he said.
At present, CLI said that it is implementing 52 projects, now at
various stages in development, across eight cities in Visayas and
Mindanao.
Mr. Soberano also said that among the listed cities that they plan to
develop, the company has specifically noted that Cebu, Davao, and
Cagayan de Oro pose great opportunities due to its economic growth.
Currently in the pipeline for CLI is a 22-hectare central business
district in Matina, Davao City. Its first phase is valued at around P10
billion and is expected to generate 10,000 jobs in construction.
Also in development in Davao are a two-tower residential condominium
due to be completed by 2020 and a 1.9-hectare mixed-used development
along McArthur Highway in Matina, set for completion in 2021.
In Cagayan de Oro, CLI is also looking to seal deals on integrated
estate developments, as well as condominium and residential subdivision
projects. Its first project in the region, the three-tower MesaVerte
Residences is expected to be completed by 2020.
CLI is also planning to develop a 20-hectare property into a business
park in Cebu, responding to demand for more office spaces in the
region.
_____________________________________________
