Cebu Landmasters Planning to Boost Landbank in Key Provinces in Visayas


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

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How Safe are Cebu’s Buildings if an Earthquake Strikes?

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While there was no reported damage on structures in Cebu when the recent 6.5-magnitude earthquake rocked the Visayas, one still can’t help but ask the question: Just how safe are the buildings here, particularly condominiums, from tremors in the future?

People may have become wary of living in multi-level buildings following the 7.2-magnitude temblor that struck Cebu and Bohol in 2013 as well as the Leyte quake last July 6, fearing that these edifices could not withstand strong seismic activities.

Despite this perception, major developers in Cebu assured the public that their properties are safe.

“CLI had been very compliant and has always worked with qualified architectural and engineering designers,” Franco Soberano, chief operating officer of publicly-listed Cebu Landmasters Inc. (CLI) developer of 38 Park Avenue Cebu, said in a text message.

Building, fire codes

Soberano said the best way to disaster-proof developments is by strictly adhering to the building and fire codes of the Philippines.

The developer said the codes are there to protect the users of a building as these take into consideration the local natural environment and climate.

Located within the Pacific Ring of Fire, the Philippine archipelago is home to many volcanoes and fault lines; and, thus, is prone to earthquakes every now and then.

The country also experiences more than 20 typhoons each year, which is also one factor engineers consider when planning for buildings, residential or otherwise.

“Another very important requirement is to do regular and routine checking of all integral parts of the building, including structural, electrical, mechanical, plumbing and fire protection systems,” Soberano said.

CLI has more than 30 projects in the metropolitan as well as beyond Cebu with existing and planned projects in Cagayan de Oro, Davao, Iloilo, Dumaguete, and Bacolod, cutting across the economic segment to the high-end segment of the market.

The same assurance was given by Cebu Holdings, Inc. (CHI), a subsidiary of Ayala Land and is the company behind Cebu Business Park in uptown Cebu City.

“Developments built by Ayala Land and Cebu Holdings, particularly buildings and facilities that are intended to be occupied or contain vital support functions, are not built on top and do not straddle a known fault line,” CHI said.

Technical due diligence

As part of the company’s technical due diligence, geotechnical studies and the required EGGA or Engineering Geological and Geo-hazard Assessments are conducted.

Furthermore, all projects begin after careful assessment and clearances from applicable government agencies and in-house experts.

CHI also continues to explore new technologies in design and construction that advance its communities’ aptitude for disaster resilience.

Cebu Property Ventures and Development Corp. (CPVDC), the firm behind Cebu IT Park, is a joint venture between CHI and the Cebu provincial government.

CHI said that in Cebu Business Park and Cebu IT Park, they make sure that building constructions follow all requirements not less than those required by the National Building Code.

“We do not allow construction to begin unless plans are reviewed and are issued the required construction permit by the Office of the Building Official,” the company said.

National Building Code

Engineer Josefa Ylanan, chief of Cebu City’s Office of the Building Official (OBO), said no permitted residential structure within the city was compromised by the tremors last week.

“If they have secured a (building) permit, that would mean their engineers complied with the requirements as per the National Building Code,” she said in a phone interview.

The National Structural Code of the Philippines, most recently revised in 2010, is based on the National Building Code of the Philippines enacted by Congress in 1972 following the 7.3-magnitude earthquake in Casiguran, Aurora in 1968.

Prior to the 2010 revision, critical changes in the code were also made when on July 16, 1990, a 7.8-magnitude earthquake that hit Baguio led to the collapse of 28 buildings.

The code enumerates a set of requirements that developers and construction companies should adhere to if they intend to keep their buildings from sustaining major structural damage.

Primarily designed to protect homeowners and building occupants, among the guidelines included in the code are choosing safe locations as well as the use of high-quality materials for construction.

“I would say that structures that are permitted have passed National Building Code requirements. We can be confident that these buildings can withstand earthquakes as strong or even stronger than the last one,” Ylanan said.

Magnitude 9 temblors

Ylanan pointed out that before the revisions in the code, buildings could withstand only up to magnitude 7 earthquakes, but can now survive up to magnitude 9 temblors.

Following the Cebu-Bohol earthquake in 2013, Ylanan said contractors revisited their areas to see whether their buildings no longer meet current standards.

“If this is the case, they may recommend retrofitting,” the OBO chief said.
She said no building owner would refuse this as retrofitting a structure would cost less than if something unfortunate happens to the building.

 

By: Victor Anthony Silva | Cebu Daily News | July 14, 2017

 

Cebu Real Estate Developer Unveils Projects to Address Different Segments

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Fast diversifying Cebu Landmasters, Inc. flexed its capacity to address specific market needs with a high-end real estate project in Cebu, a mid-market development in Davao, both launched last month, and economic housing projects in Cebu and in Dumaguete City to be launched this April.

The four real estate projects seek to boost the local developer’s market leadership in Metro Cebu and expand its presence in the entire Visayas and Mindanao region where it targets to be a dominant player in three years.

The Cebu project called 38 Park Avenue is located in a 1.17-hectare property in Cebu IT Park. It is a 38-storey high-end development offering 745 residential units, a retail plaza and a future office building. Masterplanned by global designers, the property will give residents an experience of the New York lifestyle with first-class facilities and amenities.

Mesa Tierra Garden Residences, the developer’s first foray in Davao, is a 22-storey residential condominium located in E. Jacinto St., Davao City. The project was already 80 percent sold in less than a month of selling. It will have 694 units and garden-inspired features and amenities, following the success of its mid-end residential condo development called Mivesa Cebu.

Casa Mira, on the other hand, has been Cebu Landmasters flagship economic housing brand offering vertical and horizontal projects. Casa Mira South in Cebu, City of Naga and Casa Mira Coast Dumaguete will offer two-storey townhouse units from 36 sqm to 66 sqm in gated subdivisions with clubhouse amenities and more. Casa Mira South will offer approximately 3,200 units in three phases while Casa Mira Coast Dumaguete will offer 550 units.

Cebu Landmasters is currently the leading local condominium developer in Metro Cebu. It enjoys an 11 percent market share of the total supply of condominium units in the metropolis.

Founded by real estate industry veteran Jose Soberano III, its president and CEO, Cebu Landmasters started with a 213-unit economic housing project called San Jose Maria Village in Balamban south of Cebu in 2003. From purely horizontal residential developments, the company ventured into vertical, mixed-use office developments and diversified into the various segments of the property market.

Today, the company is present in the socialized, economic, mid-market and high-end segments catering to all types of budgets, and consistently delivering best value. 38 Park Avenue, which belongs to the high-end segment, sells units starting at P2.8 million for studios, while Messa Tierra starts at P1.8 million for mid-market price range. The Casa Mira units in Cebu and Dumaguete City at start at P1.1 million for economic housing.

Being a homegrown player, Cebu Landmasters enjoys an advantage over other big players because of its familiarity with local communities, allowing it to choose the best locations, suppliers and dealers. This also gives it the capacity to tailor-fit its projects to the needs and preferences of Vismin buyers.

Cebu Landmasters sells faster than its peers in Cebu and enjoys a quick take-up. Ninety-six percent of its completed projects have been sold out. Its mid-rise condominium format Mivesa Garden Residences and its economic housing brand Casa Mira Linao in Cebu both sold out in less than three months.

Manila Bulletin | April 17, 2017

38 Park Ave. Cebu, 38 Park Avenue Cebu, Casa Mira Cebu, Casa Mira South, Mivesa Garden, Mivesa Garden Residences, Mivesa Residences
http://www.ceburealestate.com.ph/cebu-real-estate-developer-unveils-projects-to-address-different-segments/

‘Ayala Boy’ Makes Good

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When Jose Soberano III started his Cebu real estate company in 2003 with an affordable housing project in the northwestern Cebu town of Balamban, he gave out soft drinks and sandwiches to his potential customers.

It was his hands-on attempt to introduce Cebu Landmasters, Inc. (CLI) as a trusted brand in the housing development business.

It was also his way of attracting future homeowners, mostly employees of a shipbuilding company in that part of Cebu.

Twelve years later, CLI has become a leading local developer.

According to a 2016 survey by real estate services and advisory firm CBRE Philippines, CLI registered P2.18 billion in sales in 2016 and has over 33 developments in various stages of construction.

The company is not slowing down its expansion pace, recently announcing its investment of another P12 billion in 11 projects across the Visayas and Mindanao.

These projects will rise in Cebu, Iloilo, Bacolod, Dumaguete, Cagayan De Oro and Davao.

CLI also caters to different income segments to capture as big a slice as possible of the real estate market.

“We believe our growth story is the result of a keen understanding of the VisMin (Visayas and Mindanao) market, which is highly focused on getting the best values. We promise our homeowners hands-on service and we will deliver that. We will not be out of reach just because we have grown so much,” said Soberano.

Ayala boy

Soberano credits his 23 years of working with the Ayala group for honing his skills in running a business.

His experience included various stints with Ayala Investments, Bank of the Philippine Islands and Ayala Land Inc.

When it was decided that an Ayala Land subsidiary would be established in Cebu, Soberano became part of the pioneering group that built Cebu Holdings, Inc. (CHI) from the ground up.

Two of the major urban developments within Cebu City—Cebu Business Park and Cebu IT Park—were set up at the time when Soberano was with CHI.

He was CHI vice president until he left the company in 2000.

In 2003, he started his own company.

“I have always been an Ayala boy. I am grateful for my knowledge and the experiences I learned when I was with the company. I have deep respect for them and look up to them as big brothers,” said Soberano.

Based on its aggressive developments, Soberano is fast catching up with his “big brothers.”

Three of CLI projects are in two Ayala developments.

The 24-story Latitude Corporate Center Cebu will be completed in 2019 and is located within Cebu Business Park. The office-condominium venture Park Centrale and the mixed-used project 38 Park Avenue Cebu, on the other hand, are within the Cebu IT Park.

The 2016 CBRE Philippines survey noted that CLI was the top local condominium developer with an 11-percent share, second only to Ayala Land’s 17 percent.

Family business

Soberano is married to Maria Rosario “Marose” and father to Jose Franco, Joanna Marie, Janella Mae and Jose Gabriel.

Soberano, who was born and raised in Cebu, got his economics degree from the Ateneo De Manila University in 1976.

He then completed the Strategic Business Economics Program at the University of Asia and the Pacific.

Soberano also completed the Advanced Management Development Program in Real Estate at Harvard in July 2015.

Such an education has served him well in his business.

Meanwhile, Marose, an accountant, is the company’s executive vice president for finance.

Jose Franco is the senior vice president and chief operating officer while Joanna Marie is vice president and marketing director.

Janella Mae, who has a marketing background, will soon join the company.

Jose Gabriel is still finishing his degree at the Ateneo.

“Our parents let us pursue our careers outside of the company. After graduation, there was an unofficial four-year period where we gain experience from other fields. In my case, it took me seven years. They wanted the decision to join the company to come from us,” said Joanna Marie, who worked for a multinational company abroad prior to coming home to Cebu.

Jose Franco said they were particular with their brand names and the company’s reputation.

This is why in some residential developments, they sit as ex-officio members of the homeowners association.

“We make home ownership possible for every hardworking Filipino. When we build our projects, we always think that we will be delivering these projects to people we know,” said Jose Franco.

Jose Franco also said they consider the company’s 170 employees family members, a value that was started by his father.

“As family members, we talk and discuss our projects very openly. Decision making is swift and that is very important for a local developer like Cebu Landmasters,” he said.

By: Cris Evert B. Lato | Philippine Daily Inquirer | February 13, 2017

38 Park Avenue Cebu, Latitude Corporate Center Cebu
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Cebu Land Masters to Pour P12B into Cebu, VisMin Projects in 2017

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With Cebu real estate industry poised for more growth, a home-grown developer has set aside P12 billion for investments in more projects in Cebu and other key locations in Visayas and Mindanao.

Jose R. Soberano III, Cebu Landmasters Inc. (CLI) chief executive officer (CEO), said that the P12 billion investment is the biggest investment for CLI’s projects in a year.

Soberano said since the firm started, it had allotted a P1 billion average investment for projects in a year.

He also said that this year’s projects would be completed in three to four years.

For this year, CLI is set to launch a high-rise, high-end condominium this month at the Cebu IT Park called 38 Park Avenue Cebu.

They are also adding another Casa Mira project in Guadalupe, a Mivesa Cebu Garden Residences project, the second phase of the Base Line Cebu Center, a mixed-use complex at A.S. Fortuna, and an Industrial Park in Minglanilla.

New locations

Franco Soberano, CLI chief operating officer (COO), said this year they are also opening projects in new cities, including Davao, Dumaguete, Iloilo and Bacolod.

For these new locations, CLI is bringing in their economic brand Casa Mira and their garden series as entry point projects.

The CEO said they usually look at the market and know what the demand is, and for Bacolod, Iloilo and Dumaguete, there is a huge market for the Casa Mira products.

“In Dumaguete and Iloilo, we are bringing in the Casa Mira subdivisions while in Dumaguete, there is a market for the Casa Mira towers so we’re developing that,” the CEO said.

In Davao City, COO Soberano said they will be launching the MesaTierra Residences as an entry point project.

Entering Davao City for the first time with MesaTierra Garden Residences, the COO said that CLI aims to create tranquil and green living spaces for families and young professionals in this fourth of the garden series that is also set to be launched this month.

He said that they would be launching a second project, Velmiro Heights Cagayan, which would add to their presence in Cagayan de Oro.

IPO

The CEO said the company had also been working on getting publicly listed by second quarter of this year.

“We are about to file the application for the IPO listing very soon. We’re putting our IPO (listing) in high gear. It’s going to happen by second quarter of this year,” he said.

When that happens, the CEO said that CLI will be among just a few Cebuano companies that are publicly listed.

He said that the IPO is their way to pool in more funds to finance more expansions in the coming years.

No. 1 developer

Named as the number one local developer in Metro Cebu by CBRE Philippines, CLI has over 25 developments done in the last 12 years since they first started in 2003.

COO Soberano said CLI is still primarily a residential developer with 84 percent of the firm’s projects belonging in this segment.

About 38 percent of their residential projects are horizontal developments while 46 percent are vertical.

Majority of their projects are middle end (57 percent), 19 percent are highend, 19 percent economic and 5 percent socialized.

“We are also developing office projects (13 percent) and hotels (4 percent) with our partnership with Ascott International for The Citadines Cebu,” he said.

More hotel projects

The firm’s COO also said they are planning to add more hotel projects in the future in other locations including Mactan Island.

CEO Soberano also said they are open to working with other hotel chain brands for more projects in Cebu and in areas where they already have presence.

By: Aileen Garcia-Yap | Cebu Daily News | January 31, 2017

38 Park Avenue Cebu, Casa Mira Subdivision, Cebu 38 Park Avenue, MesaTierra Garden Residences Davao, Mivesa Garden Residences
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