CEBU LANDMASTERS INC. (CLI), a regional property developer in the Visayas and Mindanao (Vis-Min), has solidified its plans on a breakthrough project in Luzon next year by bringing its own economic housing brand “Casa Mira” for its expansion push.
COO Jose Franco B. Soberano said the company expects major demand for inexpensive housing projects in the northern part of the country. As such, they will be offering “the best amenities [and property management, along with the widest possible roads,] among others.”
“I feel that our type of affordability with quality will create a very new fan base over there [in Luzon],” Soberano stated in a briefing after CLI’s stockholders’ meeting last week. “So let’s start there.”
The official shared his sentiments that “it is easy for us to do condos as well, or high rise. But we like the mission of housing. And that is the need right now also in the Philippines.”
Meanwhile, CLI’s chair, president and CEO Jose R. Soberano III imparted their strategy when they ventured into a new location in the Visayas and Mindanao: They started with affordable housing, then grew from there.
“In the case of Luzon, while we may look at the southern corridor as more of an opportunity for all of these housing products to push, we can also move farther toward the center in [the Calabarzon Region, as it] definitely provides more opportunities,” the older Soberano said.
“To be honest about it, the options are quite open for us. And we do have very serious offers from property owners—even from those [whom] we have dealt with in Vis-Min,” the CEO explained. “They [have shown us their land banks, and we have to evaluate such very carefully: how we would like to start this new thrust of coming into Luzon,] and how it will move forward.”
The firm will start meeting brokers and property owners for the possible project launch by next year, according to its officials. Its first site in Luzon, however, is yet to be finalized.
CLI said it is expected to launch P29.75 billion worth of pipeline projects this year, which totals to 19 projects in Vis-Min.
Moreover, there will be 477 new keys from its three new hospitality projects such as the “The Pad,” “lyf Cebu City” at BaseLine Center, and Citadines in Bacolod City.
There will also be 50,000 square meters of new additional gross leasable area, as CLI is also targeting substantial growth in its leasing business with the addition of 4,000 sq.m worth of gross leasable area largely from Davao Global Township retail pads and a convention center.
Last year the company launched close to 5,000 units across 16 projects worth P19.36 billion collectively.
CLI’s business portfolio also surpassed the century mark with a total 109 projects built around 80 residential projects, six offices, 10 hotels, 10 mixed-use projects and three township developments spread across 16 key cities in Central and Southern Philippines.