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CLI sells out first condo in DGT

March 24, 2022

CEBU Landmasters Inc. (CLI) on Wednesday said it generated P4.068-billion sales after it sold out the three towers of its residential development in Davao Global Township (DGT) in four days.

In a statement, the VisMin developer said the three towers of the six-tower The East Village at DGT will break ground in the second quarter of the year and is scheduled for completion in the third quarter of 2026.

The 1.8-hectare (ha) project also has amenities including playgrounds, a basketball court, lap pool, jogging paths, gardens, parks and a chapel.

The East Village forms part of the Phase 1 of the 22-ha DGT, along with a P700-million lifestyle mall and a P200-million cultural center.

The DGT, meanwhile, serves as the first and largest premier central business district of Davao City. “DGT will mark the coming of age of Davao City among Southeast Asia’s key cities,” CLI chief executive officer Jose Soberano III noted.

The East Village and DGT are projects of YHEST Realty Development Corp., a joint venture with CLI and the Yuson, Huang and Tan families.

“DGT is envisioned to transform the former Matina Davao Golf Club into a global and iconic central business district. It will host the headquarters of top corporations in the country, office hubs of BPOs (business process outsourcing) and multinationals; it will have a hospital, retail, civic spaces and a central park. It will be a development that dynamic Davao City truly deserves,” YHEST president Fred Yuson said.

Aside from the DGT, CLI is also developing the 100-ha Minglanilla Techno Techno Business Park (Ming-Mori) in Cebu and the 14-ha Manresa Town in Cagayan de Oro.

CLI’s parent income was 23 percent higher at P1.85 billion in the first nine months of last year from P1.5 billion in the same period in 2020.

Shares of CLI finished flat at P2.97 apiece on Wednesday.

Published in The Manila Times