CLI completes P1.2 billion Mesaverte project in CDO

Cebu Landmasters Inc. (CLI), the listed Visayas and Mindanao property developer, has completed the P1.2 billion Mesaverte Residences in Cagayan de Oro City.

Jose Soberano III, CLI chief executive officer said VisMin buyers in general are on the lookout for good value housing.

“We’re happy that the quick takeup of our units affirms we are meeting their needs for residences that are priced right and in strategic city locations.

Moreover, our residences are part of well-managed communities that offer individuals and families personal safety and security they need during these uncertain times,” Soberano said.

CLI has started to turn-over more than half of the development’s 700 units to their owners.

Mesaverte is expected to generate about P2 billion in gross revenue for CLI which posted record reservation sales from housing projects of P7.43 billion in the first half of the year or a growth of 41 percent year-on-year.

Launched in 2016, Mesaverte was CLI’s first project outside Cebu. Offering 20 square meters to 40 sqm studios and one-bedroom units, the first phase of the project sold out in less than a year. This prompted the launch of the second phase the following year.

The three-tower Mesaverte Residences occupies a 8,740 sqm property.

Of the total property development, 60 percent is devoted to open space complimented by generous amenities like a clubhouse, function rooms, swimming pools, fitness gym, children’s playground and a multi-purpose court.

CLI is focused on serving the undiminished demand for affordable and mid-priced housing in VisMin with a total of 14 projects in 2020 worth P19 billion.

The company currently has 70 developments in 15 key VisMin cities across the region.