Cebu Landmasters, Inc. (CLI) is expanding its economic housing brand to four more cities in the Visayas and Mindanao, after seeing a spike in demand amid the pandemic.
The listed real estate developer told the stock exchange it is launching a Casa Mira community in Dumaguete this month. Casa Mira communities will also be built in Ormoc, Puerto Princesa, and Davao City within the year.
“Many new residential seekers met that need by purchasing Casa Mira homes. As demand in other parts of the region continues to be largely unmet, we’ve made it our mission to roll out more Casa Mira projects in more VisMin cities to fill that gap,” CLI chief executive officer Jose R. Soberano III said in a statement on Friday.
The Casa Mira brand made up for 69% of CLI’s record reservation sales worth P14.23 billion during the height of the health crisis last year, higher than its usual contribution of 30%.
“We believe that an expansive mood and lessons learned from the pandemic–where homes in well-planned communities provided a safe haven–will drive Casa Mira forward for the balance of the year,” Mr. Soberano added.
Casa Mira communities include a clubhouse with multi-purpose halls, a chapel, a swimming pool, a basketball court, and a children’s playground.
There are currently ten Casa Mira communities with a combined development cost of P10.24 billion in in Cebu, Bacolod, Cagayan de Oro, Iloilo, and Negros Oriental.
Cebu Landmasters shares rose by 2.97% at the stock exchange on Friday, closing at P5.5 apiece.
Article and Photo originally posted by Business World last March 5, 2021 6:18pm and written by Keren Concepcion G. Valmonte.
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