CLI expands to Eastern Visayas with Ormoc subdivision project

REAL estate developer Cebu Landmasters, Inc. (CLI) announced on Wednesday that it is launching Casa Mira Homes Ormoc subdivision as part of its Eastern Visayas expansion.

“We are pleased that Casa Mira has facilitated the company’s expansion to untapped markets like Ormoc. At the same time, it has offered prospective families in Visayas and Mindanao a chance to make the big leap to first-time homeownership,” CLI Chairman and Chief Executive Jose R. Soberano III said in a statement on Wednesday.

As the 11th Casa Mira development in Visayas and Mindanao (VisMin), the project has 685 units on a nine-hectare property. It is expected to be completed by 2023 and projected to generate sales of P2 billion.

“Pre-selling activities preceded the launch of the P950-million development offering townhouses and single-detached units with floor areas from 42 to 62 square meters (sq.m.). Casa Mira Homes Ormoc is now close to 70% sold attesting to the popularity of the listed company’s economic housing brand,” CLI said.

The residential brand includes amenities such as chapel, swimming pool, play area, basketball and tennis courts.

CLI said it is set to unveil more Casa Mira projects in Cebu, Ormoc, Bacolod, Iloilo, Cagayan de Oro, Davao, Dumaguete and Palawan within the year.

The property developer has a portfolio of 63 residential projects across VisMin offering close to 30,000 units for the high-end, midmarket and economic segments, with the total sales value of the said projects amounting to P73.6 billion, with 89% of the units sold out.

For 2022, CLI said it is also set to launch 20 new projects.

For 2021, the company said its net income attributable to shareholders grew 42% to P2.61 billion amid strong housing demand, exceeding its 2019 bottom line by 30%.

On Wednesday, CLI shares were down by four centavos or 1.43% to finish at P2.75 at the stock exchange. —