CLI: Cebu project sells out in 3 days
Cebu Landmasters Inc. (CLI), a listed property developer in the Visayas and Mindanao, said it sold out in three days its P2.4-billion upscale residential project in Cebu City.
The company said it opened sales last week for its Calle 104, which straddles Ramos and Ranudo Streets, a popular address of prominent families in Cebu.
The said project in Cebu is CLI’S eighth launch this year, bringing the total reservation sales to P13.5 billion for the year so far.
“Calle 104 is a well-designed mixed-use project targeted to prominent families in Cebu. Its outstanding performance is also attributed to its strategic location, which is very close to major hospitals in Cebu City,” company CEO Jose Soberano III said.
“Majority of its buyers are medical professionals, particularly doctors, who choose Calle 104 as their investment of choice.”
Calle 104 is a joint venture project
of CLI and Borromeo Brothers estate Inc. under Cebu Bl-ramos Ventures Inc.
“The sales velocity of the project shows that there is a growing demand for upscale residential developments coinciding with the economic recovery and progress of Cebu City,” Soberano said.
The name of Calle 104 refers to the house number of an iconic home, the Garcia-escaño Mansion on Ranudo Street, adjoining another property on perpendicular Ramos Street.
With 5,530 square meters of footprint, Calle 104 comprises two towers. The 20-storey Ramos Tower, targeted to young professionals, has 325 studio and one-bedroom units on vibrant Ramos Street. The 18-storey Ranudo Tower, meanwhile, has 192 units offering studios up to three-bedroom penthouses up to 104 square meters.
Prices of the units range from P3.5 million for a studio to P23.7 million. The Garcia-escaño mansion has also been restored to serve as a gateway for this tower.
Calle 104 also offers swimming pools, function rooms, a jogging path and gym for its resident.
Projected gross revenues from the project has been pegged at P3 billion, the company said.
The upscale mixed-use development designed by Casas and Architects is set to be completed in late 2026. The project has two distinct towers connected by a retail podium with a gross floor area of 5,000 square meters of lifestyle options including restaurants, clothing and essentials. A 2,300 square meter supermarket is located in the basement, the company said.