CEBU LANDMASTERS BUYS BACOLOD LAND

Cebu Landmasters Inc. (CLI) has purchased a one-hectare property in Bata, Bacolod City from Sta. Clara Estate Inc. for P150 million, using the proceeds from its recent initial public offering. The property will be developed into a master-planned mixed-use project, CLI told the Philippine Stock Exchange. Payment of P127.5 million was made on signing of the deed of absolute sale, the balance to be released 30 days after transfer of the land title to CLI. /