Cebu Landmasters, a listed housing developer in the Visayas and Mindanao areas, has expanded its landbank in key cities in the region to 1,245,485 sqm, a 36 per cent growth from the 2018 figure, according to BusinessReporter.ph.
The properties will give rise to a range of projects with a projected investment of P50 billion, the company said in a disclosure to the Philippine Stock exchange seen by Business Reporter.
Land acquisitions in 2019 spanned highly strategic properties in seven key VisMin cities and were funded from a combination of internally generated funds and bank financing.
These lots were secured for the development of a mixed-use project in a prominent Cebu City business district location, an office project in the same area, a mixed-use development in Mactan anchored by a hotel, and more residential developments in the cities of Davao, Bacolod, Iloilo, Ormoc, Dumaguete and Bohol further expanding the reach of CLI’s popular mid-market and economic brands that have shown very market-leading take-up rates.
Read Full Story here: Cebu Landmasters Expands Landbank in VisMin by 36%