Cebu Landmasters Inc. said Friday its expanded its footprint with the launching of its first residential project in Luzon.
CLI said in a disclosure to the stock exchange the project in Puerto Princesa City is a seven-tower economic housing project with a total sales value of P6 billion.
“We are very pleased that our first venture in Luzon is a success. This shows that there is indeed a broader market for our bestselling housing brand Casa Mira beyond VisMin and that our company Cebu Landmasters is gaining traction beyond our regions of focus,” CLI chairman and chief executive Jose Soberano III said.
The first tower offers 480 units and was 85-percent sold out less than one week after the launch.
Soberano said Casa Mira Tower Palawan buyers were not only locals, as a majority were overseas Filipino workers and professionals from neighboring localities who wanted to invest in Palawan.
“The very high sales take-up of Casa Mira Towers Palawan clearly shows that there’s a lot of opportunities in Palawan, and we’re looking at how we can further serve the markets in the area,” said Soberano.
Located on a 2.09-hectare property, Casa Mira Towers Palawan offers 20-square-meter studio units and one-bedroom units up to 32 sq. m. worth P2.5 million to P5 million. It will be operated by CLI Property Management to ensure security and efficient services.
Casa Mira Towers Palawan will be the 15th community to carry the brand which includes vertical and horizontal developments.
CLI builts close to 18,000 Casa Mira units throughout key cities in the Visayas and Mindanao.