Cebu Landmasters Inc. (CLI) has announced a substantial P12 billion investment for two new developments in Luzon, marking a significant expansion for the regional property developer. The move comes as CLI opens its first Luzon office in Makati, signaling its ambition to grow beyond Visayas and Mindanao.
CLI chairman and CEO, Jose Soberano III, revealed that the company will launch a horizontal housing project in Cavite or Batangas and a mixed-use residential-retail development in Metro Manila. The housing project, set on a 50-hectare site, will offer between 5,000 to 10,000 house-and-lot units. Meanwhile, the vertical development in Metro Manila will feature two towers with a retail component, built on a three-hectare plot.
Of the total investment, approximately P5 billion will be allocated for land acquisition, while P2 billion will fund the first phase of the horizontal development, and P5 billion will go towards the condominium project.
The Manila-based vertical project aims to cater to middle-market buyers, despite an oversupply in the sector from speculative POGO leasing. CLI believes strong demand still exists in this segment despite challenges posed by market fluctuations.
The opening of CLI’s Makati office, located in the CWC Design Center, further demonstrates the company’s commitment to becoming a national player. The office will serve as a base for its Luzon operations and promote both new and existing developments to Manila’s investors and homebuyers. This marks a key step in CLI’s strategy to leverage its 20 years of experience and establish a stronger presence in the country’s financial and economic hub.
“This new office symbolizes our readiness to bring the Cebu Landmasters brand to Luzon, leveraging our expertise to serve a broader market,” said Soberano III, emphasizing CLI’s growing influence in the Philippine property sector.
