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CLI expects P900-million revenues from Bohol project

March 4, 2020

PROPERTY developer Cebu Landmasters Inc. on Tuesday said it expects some P900 million in revenues from its residential development in Dauis, Bohol, targeted at the growing middle market segment in the Visayas and Mindanao.

The company said it launched the 204-unit Velmiro Greens Bohol, which it hopes to complete in 2023.

The development offers townhouse and single-detached units from 60 to 100 square meters in a 3.6-hectare gated community and is  located near schools, malls, tourist spots and other major establishments.

The Bohol project is CLI’s fourth carrying the Velmiro brand aimed at mid-market buyers who accounted for 37 percent of the company’s total sales in 2019. Other Velmiro communities are in Cebu, Cagayan de Oro and Bacolod.

The Velmiro brand is associated with open spaces with landscaped parks, a swimming pool, multilevel clubhouse with functions rooms, fitness gym, basketball court, playground and surrounded by landscaped parks.

“Our buyers feel they are getting great value for their money and this has resulted in good takeup rates across all our Velmiro projects,” company President and CEO Jose Soberano III said.

In a recent market study covering 10 cities in the Visayas and Mindanao where CLI operates, the firm emerged as the top residential developer beating other national and local players.

CLI is mainly present in the Visayas and Mindanao region. – By VG Cabuag

Published in Business Mirror