Cebu Landmaster Inc. (CLI) will be the latest national real estate developer to invest in Bacolod City with its project MesaVirre Garden Residences. The Cebu-based developer recently acquired a P150-million property from Sta. Clara Estate, Inc. for a one-hectare property where it plans to develop MesaVirre Garden Residences, a master planned mixed-use project.
Real Estate Hotspots in VisMin
Cebu Landmasters, Inc. (CLI) has began pouring some P12 billion in investments with its decision to enter the real estate hot spots in the Visayas-Mindanao (VisMin) area. The company sees an opportunity in the record growth in the region. Government data displays high growth rates in the gross domestic products in key cities in VisMin area. In 2016, Metro Davao posted a 10.7 percent growth, Cagayan de Oro 8.7 percent, Iloilo and Bacolod Cities 9 percent, and Metro Cebu 8.4 percent.
This BPO boom in Vis-Min has fueled real estate growth. This favorable investment environment is buoyed up by the projected further growth of the BPO industry from the current 1.7 million to 2.1 million full-time workers by the year 2022.
he global business outsourcing think tank Tholons has declared Metro Cebu, Medtro Davao and Bacolod among Top 100 Super Cities or outsourcing destinations in the world. Iloilo and Dumaguete have also been dubbed as “Next Wave cities” where BPOs are fielding operations in search of new talents.
A significant 33.4 percent of overseas contract workers hail from the Vis-Min and has also driven the growth of the real estate industry in the region. Total remittances rose from USD25.61 billion in 2015 to USD26.9 billion in 2016 and exceeded government growth target.
Tourism growth in the region, with Metro Cebu leading the pack with its average growth rate of 11.58 percent in the past four years, has contributed to the real estate boom in Visayas and Mindanao.
This January 2017 for example, some 122,613 visitors entered the Philippines through the Mactan-Cebu International Airport and 51,939 arrived the Kalibo International Airport. The Department of Tourism in Mindanao expects a maximum tourism growth of 20 percent.
CLI is developing 11 new projects in 2017 alone, in the identified Vis-Min hotspots in Metro Davao, Cagayan de Oro, Iloilo, Bacolod, and Dumaguete. These projects will comprise a mix of residential, offices, commercial and hospitality developments.
MesaVirre Garden Residences
MesaVirre Garden Residences will be the 5th Cebu Landmasters garden series. It is a mixed use condominium residences on a one-hectare property composed of three buildings offering studio and one-bedroom units. Building A will have 16 storeys, Building B 20 storeys, and Building C 17 storeys.
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About Cebu Landmasters Inc.
Cebu Landmasters, Inc. is a Cebu-based company listed at the Philippine Stock Exchange on June 2 where it raised P2.9 billion through the sale of 580 million shares in its maiden listing.
In 2016, the company registered a 41.5 percent rise in revenues to P2.18 billion from P1.54 billion in 2015. Also, the firm currently accounts for the second largest market share or 11 percent of the total supply of residential condominiums in Metro Cebu, only second to real estate giant Ayala Land.
Jose Soberano III, the chairman and chief executive officer of Cebu Landmasters Inc., (CLI) has been chosen by the Cebu Chamber of Commerce and Industry (CCCI) as this year’s Entrepreneur of the Year. Soberano, who left Ayala Land in 2000 to build on what now becomes the number 1 local housing developer in Metro Cebu.