MANILA, Philippines — Cebu Landmasters Inc. (CLI), a listed property developer focused in the Visayas and Mindanao, has generated nearly P3 billion in sales from its second horizontal project in Davao City.
CLI, in a disclosure, said it recorded P2.7 billion in sales after Velmiro Heights Davao was fully sold out in just two days.
“The record-breaking sales performance of Velmiro Heights Davao shows the strong market acceptance of CLI’s projects in Davao,” CLI chairman and CEO Jose Soberano III said.
“The residential projects we launched in the area have been selling out in just a few days or within weeks after market introduction,” he said.
Velmiro Heights Davao offers a total of 362 units on an 11.52-hectare lot in Barangay Magtuod.
The property has single-detached and single-attached Zen-inspired houses on lot sizes ranging from 100 to 258 square meters which are priced from P5.2 million to P11.15 million.
Velmiro Heights Davao is the seventh residential development of CLI’s Velmiro brand, which is part of the listed company’s Garden Series catering to the mid and upper mid-market buyers.
The brand has a total of 2,377 residential units all over Visayas and Mindanao.
In Davao, CLI’s portfolio consists of residential, hotel, mixed-use and township projects.
The company’s maiden 694-unit Mesatierra Garden Residences has been finished, followed by the site development completion of the 23-hectare Davao Global Township.
CLI is poised to start turning over Casa Mira Towers LPU Davao units by the last quarter of the year, along with those from One Paragon Place, the residential component of the mixed-use The Paragon Davao.