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Manila Bulletin devider Business devider The Stock Market devider NTT UD Asia gets antitrust nod for 40% stake in CLI Luzon unit

NTT UD Asia gets antitrust nod for 40% stake in CLI Luzon unit

Published Jan 13, 2026 10:20 am
NTT UD Asia Pte. Ltd., a unit of Japan’s NTT Group, secured antitrust approval to acquire a 40 percent stake in the Luzon-focused subsidiary of Cebu Landmasters Inc. (CLI), clearing the way for the Visayas-Mindanao developer’s primary expansion into Metro Manila and surrounding provinces.
In a disclosure to the Philippine Stock Exchange, CLI said the Philippine Competition Commission (PCC) cleared the proposed subscription by the Singapore-based NTT UD Asia to the voting shares of CLI Luzon Ventures Inc. on Jan. 9.
NTT UD Asia previously committed ₱6 billion for a joint venture to develop a ₱12 billion residential project in Cebu.
CLI Chief Finance Officer Grant Cheng earlier said the firm was earmarking ₱12 billion for its Luzon expansion over a four-year horizon.
The investment strategy allocates ₱5 billion for land acquisition, ₱5 billion for a Metro Manila condominium development, and ₱2 billion for the initial phase of a horizontal housing project in the southern industrial belt.
The developer has already secured its foothold in the capital with the acquisition of a 3.5-hectare property in Pasig City, Executive Vice President and Chief Operating Officer Jose Franco Soberano said.
Despite concerns regarding an oversupply of condominium inventory in Metro Manila, Soberano indicated the company is betting on long-term demand within specific urban districts.
He noted that the firm intends to target middle- to upper-middle-income segments, a demographic in which the company has historically seen high absorption rates in its home markets.
The Pasig development is expected to feature units priced between ₱3 million and ₱7 million, likely under the company’s Garden Series or Casa Mira brands.
Beyond the capital, CLI Chairman and Chief Executive Officer Jose Soberano III said the company is in advanced negotiations for land in the Calabarzon region, which encompasses Batangas and Cavite.
The move into the southern Luzon corridor is driven by an influx of industrial and commercial investments that have heightened demand for worker housing.
Improved infrastructure connecting these provinces to Metro Manila has made the region a primary target for the developer’s first foray outside its traditional stronghold in the central and southern Philippines.

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Cebu Landmasters Inc. NTT UD Asia Pte. Jose Soberano III Jose Franco Soberano Grant Cheng
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