CEBU LANDMASTERS, Inc. (CLI) has launched the third and final tower of Costa Mira Beachtown Panglao, its beachside residential project in Bohol through a joint venture with Lite Properties Corp.

In a statement on Tuesday, CLI Chairman and Chief Executive Officer Jose R. Soberano III said the launch would “accommodate more residents aspiring for an inspiring and relaxed life in Bohol.”

He said the project, which was designed as a tropical paradise, showcases Bohol’s rich culture and natural resources “while standing out as signature CLI development.”

The opening of the new tower will increase the property’s inventory to 1,056 units, which is spread across three residential categories, the company said. Its studio unit measures 22 to 25.36 square meter (sq.m.), while a one-bedroom unit offer 38.85 sq.m. to 45.88 sq.m. with a balcony. A two-bedroom unit spans 51.40 sq.m. The units’ price ranges from P2.8 million to P8 million.

The new tower is part of the P5.3-billion tropical beach community at Totolan town in Dauis, Panglao Island which spans 4.05 hectares.

“Strategically located near Dauis Bridge that leads to the provincial capital Tagbilaran City, the development connects residents to modern conveniences while being surrounded by natural wonders, including having convenient access to Bohol’s top dive spots,” the company said.

Up to 80% of the property’s first two towers had already been sold since the launch a few months ago, it said.

The beach town property includes amenities such as adult and kiddie pools, a playground, gym and jogging paths, a clubhouse, and indoor and outdoor lounges that provide spaces for “social interactions or peaceful introspections.”

“Making each unit at this Bohol property special is the design inspiration that takes cues from the local culture. The masonry wall finish and ceilings are painted to reflect the relaxing beauty of Panglao, while porcelain floor tiles provide a sleek and modern look,” it added.

The Panglao property is the second development under the company’s beach town residences following the initial launch of its Costa Mira property in Mactan, Cebu.

Lite Properties is an affiliate company of Lite Shipping Corp. of the Lim family of Bohol that operates a fleet of roll-on/roll-off ferries across the country.

CLI has more than 100 existing developments in 16 key cities in Visayas and Mindanao, with another P29.75 billion worth of projects in the pipeline.

The company said 19 projects are set to be launched this year, the first of which are three hospitality projects that will add 477 keys and increase topline contributions.

On Tuesday, its shares shed 0.38% or a centavo to P2.64 apiece. — Adrian H. Halili