Cebu Landmasters acquires Abaca Resort Mactan

Property developer Cebu Landmasters Inc. (CLI) on Thursday said it has acquired the Abaca Resort Mactan property, which the developer plans to redevelop into a 100-room all-suite complex.

The plan is to complete the resort’s redevelopment, with a footprint of 4,328 square meters by 2023, CLI said.

“CLI and The Abaca Group will create world-class synergies that will allow us to maximize tourism opportunities in Cebu, a booming growth area supported by large-scale infrastructure development projects such as Terminal 2 of the Mactan Cebu International Airport,” said CLI chairman and CEO Jose Soberano III.

Located in the Punta Engano area of Mactan, the Abaca Resort Mactan is a luxury oceanfront property.

The redevelopment’s master plan will be done by a foreign architect, which will include Sky Villas.

“We have been approached by several developers to expand the brand but the thoughtfulness and commitment to quality that Cebu Landmasters brought to the table was undeniable and made the decision easy,” said Abaca Group founder Jason Hyatt.

“Having this unique partnership and opportunity to manage a premier property developed by the region’s premier developer is a significant step towards our vision of breaking out as the country’s top homegrown luxury hotel group,” he said. —Jon Viktor Cabuenas/VDS, GMA News