Cebu Landmasters Inc., a listed property company based in the Visayas, said Thursday it has entered into a new joint venture with Cebu City-based real estate firm Martinez Agricultural Corp. to develop a residential condominium project.
The Cebu project is designed to meet the growing demand for residential development in the area.
Cebu Landmasters said it will invest a total P373.6 million, which will give it a 60 percent share in the project and in the earnings of the joint venture. Incorporation papers of the joint venture are still being finalized.
Cebu Landmasters develops real estate in the Visayas and Mindanao regions, with over 124 developments across 17 major locations in these areas.
