CEBU LANDMASTERS, Inc. (CLI) is in talks to acquire more land in Cebu, Iloilo, Negros Occidental, Cagayan de Oro and Bohol, as the listed property developer looks to expand its footprint in the region.
“Demand for housing, offices, and commercial spaces continues to soar in the Vis-Min (Visayas-Mindanao) area and CLI wants to be at the center as it happens,” CLI President and Chief Executive Officer Jose R. Soberano III said in a statement issued over the weekend.
The company said it is in talks with property owners in Cebu, Iloilo, Negros Occidental, Cagayan de Oro and Bohol “to prop up (the) existing landbank.”
In recent weeks, CLI has been buying several properties, using the proceeds of its P2.9-billion initial public offering conducted last June. Its most recent acquisitions include the 4.6-hectare property in Bogo City, Northern Cebu as well as a five-hectare land in Jaro, Iloilo City.
The Bogo property will feature the second of its Villa Casita socialized housing series, and will offer 700 housing units. The development will also have sizeable green spaces suited for parks and community facilities.
“Villa Casita provides families a home with simplified living spaces, where they can enjoy the basic necessities of life while surrounded by nature’s elemental beauty,” Mr. Soberano said.
On the other hand, the Jaro property will provide 500 economic housing units which will still have facilities similar to those found in high-end communities.
Aside from acquisitions, CLI has also earmarked project launches for the rest of the year.
Set to be launched in the third quarter is a housing development on a six-hectare coastal property in Sibulan, Negros Oriental. The project is located near the airport, and is 15 minutes away from the city center of Dumaguete. The company is targeting overseas Filipino workers and Dumaguete-based families as potential customers for the project.
Meanwhile, a one-hectare mixed-use development in Bacolod City, Negros Occidental will also be launched by the second half of the year.
“It will be the latest edition of CLI’s fast-selling ‘garden series,’ currently being offered in Cebu City, Davao City, and Cagayan de Oro city,” the company said.
CLI generated P2.87 billion in reservation sales during the first half of 2017, almost enough to breach its 2016 full-year figure of P2.94 billion.
The company’s three flagship projects, namely 38 Park Avenue in Cebu, MesaTierra Garden Residences in Davao City, and Casa Mira South in Naga City, boosted its positive performance for the period. —
Arra B. Francia | July 31, 2017 | Business World Online