Cebu Landmasters, Inc. (CLI) reported that it has already sold 85 percent of the initial phase of its first foray in Luzon, Casa Mira Towers Palawan.
In a disclosure to the Philippine Stock Excange, the firm said the first phase of its economic housing project in Puerto Princesa, Palawan consists of two towers with 480 units.
The first phase of the P3 billion seven-tower Casa Mira Towers Palawan has so fargenerated reservation sales of P1.2 billion. This brings CLI’s total 2022 reservation sales to P13.5 billion to date.
Projected gross revenues from this seven-tower development is pegged at P6 billion, with phase one set for completion in the fourth quarter of 2025.
“We are very pleased that our first venture in Luzon is a success. This shows that there is indeed a broader market for our bestselling housing brand Casa Mira beyond VisMin,” CLI Chairman Jose Soberano III said.
Soberano observed that Casa Mira Tower Palawan buyers were not only locals, but a majority are Overseas Filipino Workers and professionals from neighboring localities who want to invest in Palawan.
This is a strong indicator of important factors that appeal to investors: the development’s value proposition of giving more and its location being close to tourism sites in Palawan.
Located on a 2.09-hectare property, Casa Mira Towers Palawan offers 20 square-meter studio units and one-bedroom units up to 32 square meters in seven mid-rise towers.
Casa Mira communities offer residents swimming pools, clubhouses and other amenities usually associated with developments with higher price points. Casa Mira Palawan’s total contract price is from P2.3 to P5 million.
“The very high sales take up of Casa Mira Towers Palawan clearly shows that there’s a lot of opportunities in Palawan and we’re looking at how we can further serve the markets in the area,” said Soberano.