Cebu Landmasters Inc. unveiled two new residential development and one hotel projects in Bacolod City.
CLI said in a disclosure to the stock exchange it launched Casa Mira Bacolod and Velmiro Plains Bacolod and started construction of the P1.345-billion Citadines Bacolod City.
“Bacolod is a very important market for Cebu Landmasters. As we expand our presence in the city, we are excited to serve the evolving lifestyle and market needs of the Bacolodnons and at the same time contribute to the economy of the city,” said CLI chief executive officer Jose Soberano III.
Citadines Bacolod City is a 200-room development of CLI in joint venture with Bacolod-based Capitaine Inc.
Located along the city’s main thoroughfare on Lacson Street, the hotel sits on a 4,502 square meter lot. It will have 14 floors with gross floor area of 24,861 sq. m.
The company expects to ride on the emerging tourism industry in the city. Visitors to Bacolod are increasing, with the city is fast becoming a choice destination for international meetings and other events in Western Visayas.
Citadines Bacolod City is one of the four serviced residences under the CLI and The Ascott Limited strategic alliance, which includes the newly-opened Citadines Cebu City, Citadines Paragon Davao and lyf Cebu City.
CLI early this year announced plans to expand its investments in the hospitality sector, given the tremendous growth of tourism in the country.
Soberano said the company would build 15 hotels in next three to five years.
The group’s hospitality portfolio is currently close to 1,000 rooms. In addition to its partnership with serviced residences operator The Ascott Limited for Citadines Cebu City, Citadines Bacolod City, Citadines Paragon Davao and lyf Cebu City, CLI signed a deal with Radisson Hotel Group for Radisson Red in Astra Centre in Mandaue City.
Meanwhile, Casa Mira Bacolod is a 4.5-hectare property that will feature 431 townhouse units with floor areas ranging from 40 sq. m. to 78 sq. m. and lot sizes ranging from 48 sq. m to 60 sq. m.