Cebu Landmasters Inc. (CLI), a prominent Visayas-Mindanao-based real estate developer, is set to enter the Metro Manila market for the first time with a major residential project in Pasig City.
CLI chief operating officer Jose Franco Soberano announced the company recently acquired a 3.5-hectare property in Pasig, marking its initial foray into the capital region. This expansion underscores the company’s confidence in the long-term potential of Metro Manila’s residential market despite current supply concerns.
“We acquired our very first Metro Manila property, a 3.5-hectare property in Pasig City. We see long-term opportunity, and we are really targeting the middle to upper-middle segment for this first entry,” Soberano said.
He said CLI’s proven success in Cebu, Davao, Bacolod and Cagayan de Oro gives them confidence to replicate their strategy in Metro Manila.
The Pasig development will target the mid to upper-middle market, with unit prices ranging between P3 million and P7 million.
“We want to maintain that record low delinquency, high sellout rate also in Manila. Of course, there’s a challenge because we are a newcomer, but we’re excited,” he said.
Aside from Pasig, CLI is also looking to develop a horizontal project within the CALABARZON region.
The Pasig development is expected to break ground within 18 months as part of a broader strategy to bring CLI’s VisMin-tested model to the country’s largest urban center.
In preparation for its Metro Manila venture, CLI opened its first Luzon office in Makati last January.
Meanwhile, CLI also plans to further expand its hospitality portfolio. It intends to open several hotels across Visayas and Mindanao, including the first Sofitel in the region and the country’s first Radisson Red in Mandaue.
By the end of 2025, CLI will have six hotel properties and 100,000 square meters of gross leasable area from retail and office developments.
Soberano said CLI’s move to develop more hotels, retail and office projects is part of the group’s medium-term strategy to develop additional revenue streams.
