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Business

Cebu Landmasters sells 85% of Puerto Princesa project

Iris Gonzales - The Philippine Star

MANILA, Philippines — Cebu Landmasters Inc. (CLI) has successfully sold 85 percent of its economic housing project in Puerto Princesa in less than a week.

CLI chairman and CEO Jose Soberano III said the property developer is very pleased that our first venture in Palawan is a success.

“This shows that there is indeed a broader market for our bestselling housing brand Casa Mira beyond VisMin, and that our company Cebu Landmasters is gaining traction in new areas of expansion,” Soberano said.

The first two towers with 480 units of the P3-billion Casa Mira Towers Palawan generated reservation sales of P1.2 billion. The 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.

The additional reservation in Palawan brought the Cebu developer’s total 2022 reservation sales to P13.5 billion.

Soberano observed that Casa Mira Towers Palawan buyers were not only locals, but a majority are also overseas Filipino workers (OFWs) 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 in 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.

It will be operated by CLI Property Management (CLIPM) to ensure security and efficient services. Casa Mira Towers Palawan is the 15th community to carry the brand, which includes vertical and horizontal developments.

There are close to 18,000 Casa Mira units throughout key cities in Visayas and Mindanao – and growing.

Casa Mira communities offer residents swimming pools, clubhouses and other amenities usually associated with developments with higher price points. Yet they remain affordable.

Casa Mira Palawan’s total contract price is from P2.3 to P5 million.

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CEBU LANDMASTERS INC.

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