Cebu Landmasters eyes key VisMin areas for dev’t

Cebu Landmasters Inc. (CLI) plans to develop close to 200 hectares of land in the Visayas and Mindanao region.

CLI identified Cebu, Mandaue, Mactan, Davao and Cagayan de Oro as the sites.

In a disclosure to the Philippine Stock Exchange, CLI chief executive officer Jose Soberano III said the company is ready to get into bigger projects after successfully venturing into horizontal and vertical residences, offices, hotels and mixed-use properties.

“We are now ready to get into large scale estate developments to fortify our presence and leadership in the region,” Soberano said.

The company will soon launch a 22-hectare central business district in Matina, Davao City, which will be Davao’s first major business park.

CLI is pouring in P10 billion for the first phase of the project, which is expected to generate about 10,000 jobs for construction workers.

The company’s affiliate Ming-Mori Development Corp. is also in the final stages of its compliance for the 100-hectare reclamation and techno-business park project.

Soberano said this would be a game changer in Cebu, generating over 100 hectares of much needed light industrial and commercial space in the south of Cebu where there is a very strong population base.

CLI is also firming up negotiations for a 6.35-hectare and a 63.5-hectare property in Cagayan de Oro City that will be converted into integrated estate developments.

In Cebu, CLI is in discussions for a 20-hectare property envisioned to be a business park.

“We target to develop estates in Cebu, Davao and Cagayan de Oro as the opportunities are huge in these economic growth areas,” Soberano said.

CLI remains focused on its ongoing residential projects in Davao and Cagayan de Oro.