CLI expands footprint in Cebu

MANILA, Philippines — Cebu Landmasters Inc., a leading developer in the Visayas and Mindanao, is further expanding its hotel and office footprint in Cebu.

It broke ground yesterday on its P4 billion mixed-used Masters Tower Cebu, which will boost its hotel and Grade A office portfolio.

Masters Tower Cebu, located at the Cebu Business Park, will house the 195-room Sofitel Cebu City, a luxury hotel that will be a cornerstone of the growing CLI hotel portfolio projected to reach 1,433 rooms by 2025 when Sofitel Cebu City will be completed.

CLI chief executive officer Jose Soberano III is confident that VisMin economic recovery is within view and will happen at an accelerated pace.

“We will be ready in three to four years for the bounce back with a long-awaited five-star hotel and prime office spaces in the iconic Masters Tower Cebu,” he said.

The company is targeting to grow its recurring revenue to contribute 10 percent of total revenue in four to five years. Five-star Sofitel Cebu City will be operated by multinational chain Accor, a world leading hospitality group headquartered in France.

The 192-meter tower will also offer Grade A office space within the city’s business district.

The building is LEED Gold registered and will have eco-efficient features that make it attractive to global and other occupiers that put a premium on sustainability.

The offices will be located from the eighth to the 12th floors while the hotel will be from the 14th to the 32nd floors, which will include an exquisite grand ballroom overlooking Cebu City, all-day dining restaurant, roof deck restaurant and bar, meeting rooms, executive lounge, swimming pool, SoFit gym and spa.

Masters Tower Cebu is designed by Skidmore, Owings and Merrill (SOM), in collaboration with GF Partners and Architects.