ASEAN KEY DESTINATIONS
Cebu Landmasters to roll out P10.61 billion of projects
Cebu Landmasters Inc. (CLI) is rolling out P10.61 billion worth of projects in the remaining months of the year, on top of the P7.09 billion of programmed projects that have been unveiled in the first half.
The amount of projects to be launched in the Visayas and Mindanao would amount to P17.7 billion this year, Clarissa Mae Cabalda, CLI's investor relations manager, disclosed to the Philippine Stock Exchange on Thursday.
Fourteen of the projects would be rolled out in Cebu, Davao, Iloilo, Bacolod, Sibulan, and Cagayan de Oro, the company said.
"The real estate market in the Visayas and Mindanao continues to thrive," CLI chief operating officer Franco B. Soberano said in a separate statement.
"We are also banking on our expertise and know-how as a homegrown player from VisMin,” Soberano added.
To ensure quality control in after sales property management, the developer said it is no longer hiring third party managers. Instead, CLI created a fully owned subsidiary to handle all property management functions.
Cebu Landmasters Property Management Inc. (CLIPM) will employ 50 people.
"We formed CLIPM to strengthen our commitment and fulfill our promise to nurture our CLI communities even after the turnover of the units," Soberano noted.
CLI shares opened at P5.09 per share on Thursday, unchanged from the closing price on Wednesday.
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