CLI launches new Cebu condo project

MANILA, Philippines — Cebu Landmasters Inc (CLI), a leading property developer in the Visayas and Mindanao, has launched another condominium project in Mandaue City in Cebu.

The P3-billion Mandtra Residences development is through joint venture firm Cebu Homegrown Developers Inc. and is aimed at meeting the housing needs of a surging segment of upwardly mobile professionals and entrepreneurs in the region.

Mandtra Residences is managed and developed by CLI and offers condo units from 21 square meters to 41 sqm. priced from P2.35 million to P4.17 million.

CLI began pre-selling its first tower in March and was close to 60 percent sold after three weeks, said Jose Soberano III, president and CEO of CLI.

“We want to strengthen our leadership in our home base and this joint venture enables us to have access to high value locations that allow us to offer a new generation of Cebuano entrepreneurs and professionals seeking upgraded living spaces. Our exceptional sales velocity indicates we are indeed meeting a highly felt need,” Soberano said.

Construction of the development is already underway.

Mandtra Residences will have a retail podium, a sky garden, clubhouse with adult and kiddie pools, jogging paths, fitness gym and chapel.

The first tower with a lobby and three passenger elevators has 26 floors with 595 units ranging from studios to one-bedroom units, with selected units of both sizes offering balconies. Moreover, a number of units have been designed so partitions and walls can easily be knocked down and spaces combined. The first tower is set for completion in 2025.

Soberano said there would be other projects from Cebu Homegrown Developers Inc. after Mandtra Residences.

“Our partnership believes in the innate dynamism and abilities of Cebuano entrepreneurs and professionals and hope to meet their aspirations beginning with well-planned residential communities,” he said.