VISMIN’s architect, Cebu Landmasters, Inc. (CLI) is earmarking P12 billion for the initial phases of its first two projects in Luzon as the company expands its market presence nationwide.
CLI Chairman and Chief Executive Officer Jose R. Soberano III said the company’s first two projects in Luzon include a horizontal project and a condominium development.
“We allocated a total of P12 billion for the two towers of the first phase of the condo and the first phase of the horizontal project,” said Mr. Soberano told the media during the launch ceremony of the company’s office in Makati City on Wednesday.
“If we talk about land acquisition alone, that should be R5 billion for these two projects. For development, about P2 billion for the first phase. In verticals, we are starting with two towers, that is P5 billion,” he added.
Mr. Soberano said CLI may launch its first Luzon project in 2026.
CLI is looking at areas south of Manila, such as Batangas and Cavite, for its planned horizontal project, Mr. Soberano said.
“An obvious choice would be the southern part of Manila, such as Batangas and Cavite. These are the usual suspects. We have provisions standing there,” he said.
“If we are standing in a certain area, we must be sure that when we introduce it, we will have a good percentage of its take-up. Without that assurance, we will not take that,” he added.
Mr. Soberano estimated that the horizontal project would cover 50 to 100 hectares, providing 5,000 to 10,000 houses.
Regarding the standing project, Mr. Soberano said it is expected to be in Metro Manila.
“I think it’s a very good strategy to stop at one horizontal project and one vertical project. These are not small projects either,” he said.
“Once that starts and we feel our confidence, things can move quickly. We will not hold fists if we feel that there is an opportunity,” he added.
CLI also opened its first Luzon office, located on the third floor of the new CWC Design Center in Makati City.
CLI’s new Makati office will house its Luzon sales office, investor relations office, and other support departments. It will also have training and meeting rooms to facilitate business operations.
“The opening of our Luzon office marks an important milestone for CLI. With this new facility, we are ready to bring our expertise and proven track record of real estate development to the Mega Manila market,” said Mr. Soberano.
“This new office symbolizes our readiness to bring the CLI brand to Luzon, leveraging our knowledge and experience to serve the broader market,” he added.
Mr. Soberano said more offices are likely to be opened in Luzon as CLI launches more projects in the island.
The company has launched nearly 130 projects across 17 cities since its inception in 2023. Its portfolio consists of residential developments, offices, hotels and resorts, co-living and co-working spaces, mixed-use projects, and large townships.
CLI shares were unchanged at P2.67 each on Wednesday. – Revin Mikhael D. Ochave
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