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Tuesday, March 19, 2024

Cebu property firm and Xavier weigh township project in CDO

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Cebu Landmasters Inc., a leading property company Visayas and Mindanao, in (CLI) is in talks with Xavier University–Ateneo de Cagayan over a proposed 63.5-hectare township project in Cagayan de Oro City. 

CLI said in a disclosure to the stock exchange Wednesday it received a notice of interest from XU to develop Manresa, located in an emerging commercial district in uptown Cagayan de Oro, into a premier university town over the next several years. 

The proposed project, which will be subject to final approval from the Jesuit central leadership, is expected to change the landscape in both uptown and downtown Cagayan de Oro. 

CLI’s proposed master plan, which was chosen by the XU board of trustees, features modern school buildings, dormitories, a main plaza, interconnected courtyards, an amphitheater, and a university forum that incorporates a museum, theater and gallery.

“I am pleased to note that our mastery of the VisMin area allowed us to win the trust and confidence of Xavier University’s leaders. Our proposed master plan is inspired not only by the best campuses here and abroad, but also inspired by our deep roots in the Ateneo. We are highly committed to meet their expectations,” said Jose Soberano III, CLI president and chief executive. 

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XU had been planning to move most of its operations out from its six-hectare main campus in downtown Cagayan de Oro in order to provide a better learning environment to its college students. The campus along Corrales Avenue accommodated up to as many as 11,000 students before the implementation of the K12 educational reform. 

A new campus at Manresa, meanwhile, can accommodate up to 25,000 students. 

CLI proposed to acquire a 14.3-hectare portion of Manresa to integrate complementary commercial, residential, office and leisure uses to the campus town. 

CLI also intends to acquire a portion of the Corrales campus and convert this into downtown CDO’s Central Business District, with XU’s Church of the Immaculate Conception at its heart. 

The acquisitions will fund the development of the Manresa campus and the redesign of the Corrales campus for XU’s School of Medicine, College of Law, and most of its graduate programs that are envisioned to remain in downtown Divisoria. 

“This possible venture with Xavier University will potentially be our second estate project in Mindanao after our Davao Global Township (DGT). It is in line with our thrust to expand our mastery to key VisMin cities by going up the real estate value chain and uplifting entire communities and neighborhoods through our estate projects,” Soberano said.

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