NEWS & UPDATES

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Cebu Landmasters reveals expansion

February 6, 2015

By Jeandie O. Galolo – Tuesday, February 3, 2015

OPTIMISTIC about the strong demand for residential projects, homegrown developer Cebu Landmasters Inc. (CLI) signaled its expansion outside Cebu this year, with two projects slated for launching in Cagayan de Oro.

Cebu Landmasters President and Chief Executive Officer Jose Soberano III said that the company will launch five projects within the year, counting the CDO project, which will be composed of three condominium towers and a subdivision.

Details of the provincial expansion were not mentioned during the interview, but Soberano said the condo project in CDO may be launched this June.

Another project for this year is a mixed-use development inside a one-hectare property near CLI’s earlier project, Baseline Residences on Juana Osmena St. in Cebu City.

Soberano said the mixed-use development will house four towers, which can accommodate commercial, retail, hotel and residential components and will be launched in the first half of this year as part of a joint venture with the Cañizares family.

Completion of the mixed-use residential project is eyed in the next five years.

Minglanilla projects

Last Saturday, top company officials broke ground for Cebu Landmaster third subdivision project in the town of Minglanilla, Velmiro Heights in Barangay Abuno, and an economic housing project, Casa Mira, in Barangay Linao, also in Minglanilla.

Velmiro, positioned for the mid-high market, will be composed of 428 house and lot units, sitting on an 8.8-hectare property in an elevated location in Minglanilla.

Soberano said that while the sales for Velmiro are on the upswing, they are putting on hold the sale of 80 lots, which are presently classified as part of the Friar Lands.

Meanwhile, Casa Mira will have 725 houses spread across a 7.8-hectare property.

Soberano has previously expressed confidence in the property sector, citing the impact of government’s infrastructure spending, an increase in households’ disposable income and greater consumer spending, as well as the upcoming elections’ boost for the economy.

(http://www.sunstar.com.ph/cebu/business/2015/02/03/landmasters-reveals-expansion-390125)