Cebu Landmasters to spend up to P12 billion on Luzon expansion

Cebu Landmasters Inc. (CLI) plans to spend as much as P12 billion on its first two projects in Luzon, chairman and CEO Jose R. Soberano III said.

The company is eyeing Southern Luzon for its first house and lot project and a high-rise condominium within Metro Manila, Soberano said in an interview. Both projects are slated for launch in 2026.

Similar to its projects in the Visayas and Mindanao regions, Soberano said the planned house and lot development in Luzon should be able to accommodate between 5,000 and 10,000 homes across 50 to 100 hectares of land. He added that CLI has received offers from potential joint venture partners for its initial Luzon project.

The company will likely invest 5 billion pesos to acquire the properties for the two projects, with an initial investment of 2 billion pesos needed for the first phase of the house and lot project and 4 billion pesos for the vertical development, Soberano said.

Despite current risks in the property market due to oversupply, Soberano said the company is still keen on penetrating the Luzon market by targeting the end-user market.

As part of its expansion strategy, CLI on Wednesday opened a regional office in Makati City, its first outside the Visayas and Mindanao regions. The 329-square-meter office houses the Manila Sales Office, Investor Relations Office, a showroom, and spaces for training and conferences.

"The opening of our Luzon office marks an important milestone for CLI," Soberano said. "With this new hub, we are poised to bring our expertise and proven track record in real estate development to the Mega Manila market."

Since its establishment in 2003, CLI has developed 130 projects across 17 key cities. Its diverse portfolio includes residential developments, offices, hotels and resorts, co-living and co-working spaces, mixed-use projects, and large-scale townships.