Cebu Landmasters Inc. said Thursday it will launch up to P10.61 billion worth of projects in the second half, part of a plan to expand its foothold in the southern part of the country.
The listed developer said the new projects would be on top of the P7.09 billion worth of projects that it launched in the first half, bringing the total amount of developments this year to P17.7 billion.
These projects are located in Sibulan (Negros Oriental), Bacolod (Negros Occidental), Iloilo, Cebu, Davao and Cagayan de Oro.
“The real estate market in the Visayas and Mindanao continues to thrive. Our vertical and horizontal project launches are proudly spread out across the most progressive markets in the region. Our expansion to these key VisMin cities of Cagayan de Oro, Davao, Bacolod, Iloilo and Dumaguete is a strong indication of our positive outlook. We are also banking on our expertise and knowhow as a homegrown player from VisMin,” CLI chief operating officer Franco Soberano said.
CLI said it would introduce two more hotels in its mixed-use projects in Cebu City, in addition to its first hotel project”•Citadines by Ascott.
It will also expand its economic housing brand Casa Mira, which will have more than 7,000 economic housing units as it expands to four more locations.
Casa Mira Coast in Sibulan, Negros Oriental will have 543 units; Casa Mira in Iloilo City, 526 units; Casa Mira Granada in Bacolod, 637 units; and Casa Mira Towers Guadalupe in Cebu City, 727 more units.
The company said it created a fully owned subsidiary, Cebu Landmasters Property Management Inc. to handle all property management functions to ensure the quality of operations.
“Now, all our vertical projects will be managed by CLI as well. This is a value-added service that we will work very hard to deliver, and this is the very embodiment of ‘building with you in mind.’ CLIPM plans to have around 50 personnel by the end of 2017,” Soberano said.
CLI has been directly managing its condominiums since July this year. This is a part of CLI’s commitment to build with its customers every step of the way, according to Soberano.