By Anna Gabriela A. Mogato
LISTED property developer Cebu Landmasters, Inc. (CLI) will be exploring estate development as it seeks to firm up its market leadership in Visayas and Mindanao.
In a disclosure to the Stock Exchange on Tuesday, CLI said that it has already set its sights on developing 200 hectares of land across Cagayan de Oro, Cebu, Davao, Mactan, and Mandaue.
This comes after the company had “successfully ventured into horizontal and vertical residences, offices, hotels, and mixed-used properties,” CLI CEO Jose Soberano III said.
“We are now ready to get into large scale estate developments to fortify our presence and leadership in the region,” he said.
At present, CLI said that it is implementing 52 projects, now at various stages in development, across eight cities in Visayas and Mindanao.
Mr. Soberano also said that among the listed cities that they plan to develop, the company has specifically noted that Cebu, Davao, and Cagayan de Oro pose great opportunities due to its economic growth.
Currently in the pipeline for CLI is a 22-hectare central business district in Matina, Davao City. Its first phase is valued at around P10 billion and is expected to generate 10,000 jobs in construction.
Also in development in Davao are a two-tower residential condominium due to be completed by 2020 and a 1.9-hectare mixed-used development along McArthur Highway in Matina, set for completion in 2021.
In Cagayan de Oro, CLI is also looking to seal deals on integrated estate developments, as well as condominium and residential subdivision projects. Its first project in the region, the three-tower MesaVerte Residences is expected to be completed by 2020.
CLI is also planning to develop a 20-hectare property into a business park in Cebu, responding to demand for more office spaces in the region.