CEBU Landmasters, Inc. (CLI) is spending about P2.4 billion to expand its footprint in Bacolod City with the launch of two residential projects and the construction of a serviced apartment in the area.

The listed property developer said in a statement Wednesday that it has launched Casa Mira Bacolod and Velmiro Plains Bacolod, its residential brands that cater to the affordable and mid-income market segments.

Located in Barangay Granada, the P400-million Casa Mira Bacolod will offer 431 townhouse units with floor areas sized from 40 to 78 square meters, standing on lot sizes from 48 to 60 sq.m.

The 4.5-hectare project will feature amenities such as a clubhouse, swimming pool, kiddie pool, basketball court, children’s play area, park areas, perimeter fence, and a 24-hour security system.

This marks CLI’s seventh project under its affordable housing brand Casa Mira, with the others located in Cebu, Sibulan, and Cagayan de Oro.

At the same time, CLI is investing P600 million for the development of Velmiro Plains Bacolod in Barangay Granada. The 8.35-hectare project consists of 342 single-detached house and lot units primarily for mid-income buyers.

CLI will offer five model houses for the project sized from 54 to 120 sq.m. in terms of floor area.

The project’s amenities include a swimming pool, clubhouse, fitness gym, basketball court, landscaped parks, and a river esplanade.

Velmiro Plains Bacolod is CLI’s third project under this brand, with the first two located in Minglanilla, Cebu and Cagayan de Oro.

Meanwhile, CLI has also broken ground for Citadines Bacolod City, a joint venture project with Bacolod-based Capitaine, Inc. The company is spending P1.345 billion for the serviced apartments.

The 14-storey building along Lacson Street will house 200 rooms covering a gross floor area of 24,861 sq.m., as the company banks on the rising tourism industry in the area.

Citadines Bacolod forms part of CLI’s plans to further its investments in the hospitality sector, with 15 more hotels lined up in three to five years’ time.

Shares in CLI surged 3.97% or 19 centavos to close at P4.98 each on Wednesday. — Arra B. Francia