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Base Line Center: Moving on to hospitality

January 13, 2016

High Confidence. Cebu Landmasters Inc. CEO Jose Soberano III leads the groundbreaking ceremony of the Base Line Center. Within the development is Citadines Cebu City, a 180-unit serviced residence to be managed by Singapore-based The Ascott Limited. Citadines Cebu City is slated to open in the last quarter of 2018. (Sun.Star Foto/Jonolin Luab)

SIGNALING its official entry into the hospitality business, Cebu Landmasters Inc. broke ground on its Base Line Center development yesterday where its serviced residence project, in partnership with The Ascott Limited of Singapore, will stand.

CLI chief executive officer Jose Soberano III said Ascott, said to be the largest international serviced residence owner-operator, will manage 180 rooms of CLI’s Citadines project within the P3-billion Base Line Center along Juana Osmeña St. in Cebu City.

CLI and Ascott signed their partnership three months ago, and Soberano said around 60 percent of the Citadines units have already been sold. Half of the 180 serviced apartments was bought by CLI itself and will still be managed by Ascott.

“That’s how confident we are with this Citadines,” Soberano told the press at the sidelines of the groundbreaking ceremony of the first two of four towers at the Base Line Center.

Citadines Cebu City is the first regional expansion of Ascott in the Philippines, after having managed seven properties in Metro Manila. Some of its properties in the country include Ascott Makati, Somerset Alabang Manila, and Citadines Millenium Oritigas Manila. Worlwide, it operates more than 250 properties in over 90 cities spanning across more than 25 countries under the brands Ascott, Citadines, and Somerset.

Citadines Cebu City will use condotel units located from the ninth to 21st floor of Tower 1 at the Base Line Center. The third to the eighth floors of the 21-storey building, however, are allocated for some 70 office spaces.

Meanwhile, Tower 2 will be a 27-storey residential condominium of 378 units.

The first two towers are slated for completion by the last quarter of 2018, with Citadines set to open in time for Sinulog 2019.

“Because of the tourism boom, it is important that there are foreign companies brought into the picture,” said Soberano.

The CEO also said that his company will also develop a mix-used project on AS Fortuna St. in Mandaue City with a condotel, BPO offices, and commercial spaces.
CLI is also anticipating to develop another condotel project in Mactan but Soberano did not disclose timeline for these projects.

“It’s going to be a busy year for us,” Soberano said.

Published in the Sun.Star Cebu newspaper on January 14, 2016.