In a disclosure to the Philippine Stock Exchange yesterday, Cebu Landmasters Inc. said it executed a deed of absolute sale with a local land owner to purchase a 7.2-hectare property in CDO City for P133.4 million.

“The city, now considered as highly urbanized and 10th most populous in the country is one of the key sites identified by the company for expansion as stated in the use of IPO (initial public offering) proceeds,” CLI said on the disclosure.

To know more about this development, read The Freeman‘s story.