MANILA — Listed property firm Cebu Landmasters Inc. (CLI) is further expanding its footprint in Visayas by launching this week two residential projects that will offer a combined 1,615 units.
CLI’s 1,072-unit residential condominium development, MesaVirre Garden Residences, will be introduced to the market on Monday in the Bacolod City growth area.
It targets particularly employees in the information technology-business process management (IT-BPM) and overseas workers.
Later this week, it will also introduce Casa Mira Coast comprising 543 economic townhouse units in Sibulan, Negros Oriental, easily accessible to Dumaguete City, which is now also an IT-BPM destination and growth center.
“We’re seeing a lot of economic growth in the South and where there is growth, demand for housing follows especially among the emerging middle class. We are now replicating our housing successes in Cebu in other cities in the Visayas with relative ease given our strong relationships in the area and keen understanding of the market,” CLI president and chief executive officer Jose Soberano III said in a statement to the local bourse.
A recent study by leading real estate services firm Leechiu Property Consultants indicates that the IT-BPM industry appears to be expanding from Metro Manila to Cebu, other Visayan capitals led by Bacolod, and other parts of the country.
Soberano said the company is in a unique position to meet real estate demand in the Visayas and Mindanao regions where it is focused.
“We’re set to roll out a total of 16 projects this year,” he said, “With more agreements now under negotiation. It is definitely the right time to further develop real estate in VisMin where there is real demand.”
CLI offers a range of residential developments from top-end residential condominiums, to mid-market, economic and socialised housing. It has also diversified from residentials to mixed-use development and hotels.
Residentials account for 67 percent of its total sales value; commercial-office developments, 22 percent; and hotels, 11 percent. (Leslie Gatpolintan/PNA)
