CLI expands to Eastern Visayas, targets P2-B sales

Published May 13, 2022, 5:46 PM

by Bernie Cahiles-Magkilat

VisMin property developer Cebu Landmasters, Inc. (CLI) targets P2-billion in revenues from its nine-hectare housing project in Ormoc as it ramped up expansion in Eastern Visayas.

In a statement, CLI Chairman and CEO Jose Soberano III said that its recently launched Casa Mira Homes Ormoc, a 685-unit subdivision project on a 9-hectare property with P2 billion sales forecast will as the company accelerates expansion in the Visayas region.

Soberano said that pre-selling activities preceded the launch of the P950 million development offering townhouses and single-detached units with floor areas from 42 sqm – 62 sqm. He said Casa Mira Homes Ormoc is now close to 70 percent sold attesting to the popularity of the listed company’s economic housing brand.

“We are pleased that Casa Mira has facilitated the company’s expansion to untapped markets like Ormoc. At the same time, it has offered prospective families in VisMin a chance to make the big leap to first-time homeownership,” said Soberano.

Casa Mira Homes Ormoc, to be completed in 2023, is the eleventh Casa Mira development in VisMin. The residential brand is designed with generous amenities such as chapels, swimming pools, play areas, basketball and tennis courts and wide open spaces in line with its promise to offer more for the Filipino family.

CLI is set to unveil more new Casa Mira projects in Cebu, Ormoc, Bacolod, Iloilo, Cagayan de Oro, Davao, Dumaguete and Palawan within the year. Prior to Ormoc, Casa Mira recently launched a four-tower residential condominium in Bacolod City offering studio and one-bedroom units.

CLI has a portfolio of 63 residential projects across VisMin offering close to 30,000 units for the high-end, mid-market and economic segments. Total sales value of these projects is Php 73.6 billion with 89% already sold out.

The leading VisMin developer is all set to launch 20 new projects in 2022.