REAL ESTATE Base Line sales ‘brisk’ ahead of ground-breaking

Listed developer Cebu Landmasters Inc. (CLI) reported a fast sales take-up of its Base Line Prestige project.

CLI Chairman and Chief Executive Officer Jose Soberano III announced that 88 percent of the 350 units of Base Line Prestige has been pre-sold to date, an indication that condo-buying remains upbeat in Cebu City.

Base Line Prestige is the third tower of Base Line Center, a mixed-use development on Juana Osmeña St. in Cebu City, of which towers one and two have been topped off. Completion is scheduled in 2018.

“We expect to break ground on the Base Line Prestige project in two months’ time,” said Soberano.

Base Line Prestige will house lyf Cebu City, a 153-room serviced residence project targeted toward young travelers. lyf Cebu City is Ascott’s first lyf brand in the Philippines. It will occupy the tower’s 6th to 11th floors.

Franco Soberano, CLI’s chief operating officer, described lyf Cebu as “the fitting last piece of this masterpiece,” referring to the Base Line Center.

CLI earlier announced that it is targeting to increase its reve- nues by 47 percent to P5.3 billion and net income by 42 percent to P1.7 billion in 2018. Growth will be driven by robust sales performance, completion of ongoing construction, as well as the economic housing projects in Cebu and a residential project in Cagayan de Oro City.