LISTED PROPERTY developer Cebu Landmasters, Inc. (CLI) is aiming to launch its first project in Luzon by the second half of this year, a company official said.
The company鈥檚 first Luzon project will feature 2,000 homes spanning 25 hectares, CLI Chief Operating Officer Jose Franco B. Soberano told reporters on Jan. 28.
鈥淲e鈥檙e starting in Bicol, in Naga City. But we鈥檙e still finalizing the property. But hopefully we can launch in the second half of this year鈥 We鈥檙e preparing the design,鈥 he added.
CLI previously said that the first project of its planned Luzon expansion would feature its economic housing brand Casa Mira.
The project鈥檚 construction will begin by the third or fourth quarter, Mr. Soberano said.
The project is expected to be completed after three years, he added.
鈥淲e already mastered what we鈥檙e doing in Visayas and Mindanao. We feel that our brand of real estate can be done (in Luzon). We want to show what we can do,鈥 Mr.鈥塖oberano said.
CLI鈥檚 portfolio consists of residences, offices, hotels and resorts, mixed-use developments, and townships.
On Thursday, CLI shares retreated by one centavo or 0.38% to P2.63 apiece. 鈥 Revin Mikhael D. Ochave
