Cebu Landmasters embarks on P12B Luzon debut

Visayas and Mindanao-focused property developer Cebu Landmasters Inc. (CLI) is expanding its footprint outside its turf, embarking on a P12-billion Luzon debut.

On Wednesday, CLI opened its first regional office in Luzon, a 329-square meter space located in Makati City —a move that would reinforce the VisMin property giant’s plan to become a national developer.

At a media briefing following the opening ceremony for the company’s Makati office, CLI chairman and CEO Jose Soberano III disclosed details on the developer’s Luzon expansion plan.

Soberano said CLI is planning to launch a horizontal house-and-lot residential development in the south Luzon area, particularly in Laguna, Batangas, or Cavite in 2026.

Also next year, the company is planning to build a two-tower mixed-use residential development which would be “something close to Metro Manila.”

“For land acquisition alone, for the two projects, we’re looking at P5 billion [in investments],” Soberano said.

“For the horizontal development’s initial phase… that’d be P1 billion or P2 billion. For the two towers of vertical development, that’d be P5 billion,” he said.

The CLI chairman said the company is already in talks with several property owners for land acquisitions that would be the site of its planned Luzon developments.

For his part, CLI chief operating officer Franco Soberano said the VisMin property firm is setting its foot in Luzon as it sees the island as a “huge market” despite the concentration of property development in the Philippines’ largest island, adding that “there are still many underserved areas in Luzon.”

Since its establishment in 2003, CLI has expanded its business to 130 projects across 17 key cities in the Visayas and Mindanao.

The company is now eyeing a chunk in the Luzon property market.

“This new office symbolizes our readiness to bring the Cebu Landmasters brand to Luzon, leveraging our experience and expertise to serve a broader market,” Soberano said.

—VAL, GMA Integrated News