CLI braces for economic rebound, boosts portfolio

CEBU, Philippines —  Cebu Landmasters Inc., (CLI) boosted its hotel and Grade A office portfolio in anticipation of a strong economic rebound.

CLI officially broke ground its P4 billion mixed-use Masters Tower at the Cebu Business Park, which will be home to the 195-room Sofitel Cebu City.

The luxury hotel will be a cornerstone of the growing CLI hotel portfolio projected to grow to 1,433 rooms by 2025 when Sofitel Cebu City will be completed. This is in line with the listed company’s strategy to grow its recurring revenue to contribute 10% of total revenue in 4 to 5 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 choicest business district. The building set to be one of Cebu’s tallest is LEED Gold registered and will have eco-efficient features making it attractive to global and other occupiers putting a premium on sustainability. The tower’s exterior evokes Cebu City’s tradition of wood craftsmanship. The delicate, shingled facade is composed of high-performance glass and aluminum forms that are painted to resemble a light, textured wood

“CLI 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,” said CLI chief executive officer Jose Soberano III.

Masters Tower Cebu is designed by Skidmore, Owings and Merrill (SOM), responsible for some of the world’s most technically and environmentally advanced buildings and significant public spaces, in collaboration with GF Partners and Architects, one of the country’s top architectural firms. Sofitel Cebu City’s interiors are designed by Aston Design, a Singapore and Stockholm-based studio known for delivering poetic hospitality interior narratives across a diverse range of typologies – from luxury to lifestyle, urban to resort.

The offices will be located from the 8th to the 12th floors while the hotel will be from the 14th to the 32nd floors. The latter will also include an exquisite Grand Ballroom overlooking Cebu City, all-day dining restaurant, roofdeck restaurant and bar, meeting rooms, executive lounge, swimming pool, SoFit gym and spa.

Masters Tower Cebu is destined to be an iconic landmark set apart by a crown-like structure topping off at 192 meters above sea level and inspired by Cebu City’s standing as the Queen City of the South. It has also been designed to use energy efficiently and responsibly. Each floor will highlight louvers that will reduce solar heat by almost 70 percent while sky gardens on each floor will further enhance the well-being of all its occupants. The hotel’s sky lobby on the 16th floor will feature an atrium that will maximize natural lighting. A roof deck will offer heretofore unseen views of the metropolis.

“We believe Cebu City deserves a landmark like the Masters Tower Cebu,” added Soberano.