Cebu Landmasters, Xavier-Ateneo in talks over new campus in Cagayan de Oro

Listed property developer Cebu Landmasters Inc. (CLI) on Wednesday said it is in talks to develop the 63.5-hectare Manresa property of Xavier University-Ateneo de Cagayan (XU) in Cagayan de Oro.

The property developer has received a Notice of Interest from XU after the university’s board of trustees picked its masterplan.

CLI proposed to acquire a 14.3-hectare portion of Manresa for an integrated development—commercial, residential, office, and leisure—in the campus town.

The Manresa campus is envisioned to cater to up to 25,000 students, compared with its current campus along Corrales Avenue which accommodated 11,000 students prior to the implementation of the K-12 program.

CLI also intends to acquire a portion of XU’s Corrales campus and convert this into downtown CDO’s central business district.

Such acquisitions, CLI said, will in turn finance the development of the Manresa campus as well as the redesign of the Corrales campus for XU’s School of Medicine, College of Law, and most of its graduate programs.

“Our proposed masterplan is inspired not only by the best campuses here and abroad, but also inspired by our deep roots in the Ateneo. We are highly committed to meet their expectations,” said Jose Soberano III, CLI president and CEO.

“This possible venture with Xavier University will potentially be our second estate project in Mindanao after our Davao Global Township (DGT). It is in line with our thrust to expand our mastery to key VisMin cities by going up the real estate value chain and uplifting entire communities and neighborhoods through our estate projects,” he added.

The DGT is a P33 billion, 22-hectare development in Matina, Davao City, with its first phase scheduled to be completed by the third quarter of 2023.

CLI has 13 completed developments across the Visayas and Mindanao regions—San Jose Maria Village, Villa Casita, Midori Plains, Asia Premier Residences, Base Line Residences, and Park Centrale Tower.

It also has two wholly-owned subsidiaries which include CLI Premier Hotels Intl. Inc. and Cebu Landmasters Property Management Inc.

CLI has said it was eyeing to grow by 72% its income this year and increase revenue by at least 25%. —Jon Viktor Cabuenas/VDS, GMA News