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New condo project is 80% sold: official

April 18, 2017

This article was featured online on March 22, 2017 in Mindanao Times.  Link:

THE 22-STORY condominium MesaTierra Garden Residences, the joint venture project of property developer Cebu Landmasters Inc. and homegrown firm Yuson Comm Investments, has been 80% sold since a month ago.

Jose Soberano III, president and chief executive officer of Cebu Landmasters Inc., said Monday in a press conference at Marco Polo Davao Hotel that this means that majority of the 694 units are bought mostly by local consumers since the company obtained license to sell.

The P1-billion project, he said, is a 50-50 joint venture with the Yuson Comm Investments. The ground works on the project is expected to start in the second week of May.

“We hope to complete this in the first quarter of 2020,” Soberano said.

The project is located at E. Jacinto Ext. near Bangko Sentral ng Pilipinas. It includes 259 parking units, garden atrium, retail establishments, 24/7 security system, spa pool, welcome pavilion, jogging trails, function room, kiddie pool, adult pool, playground, exercise station, veranda, prayer room, fitness gym and kid’s room.

The studio units priced between P1.6 million to P2.5 million and its one-bedroom units cost P3.3 million to P4 million.

Jose Franco Soberano, chief operation officer and senior vice president of Cebu Landmasters Inc., said most of the units that were immediately sold were one-bedroom units. “The response has been very overwhelming since we gained license to sell a month ago,” he said.

The positive results, he said, are a testament of their strong partnership with Yuson Comm Investments.

“With MesaTierra and its eco-friendly and green features, we are providing a space for a breath of fresh air amidst the busy city life of Davao. More than just being physical structures to live in, MesaTierra is a lifestyle statement about a better way of living,” said Frederick Yuson, president and chief executive officer of Yuson Comm Investments.

The company, Yuson said, also planned to put up two other mixed-use developments in the city. – Kristianne Fusilero