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Manila Bulletin devider Business devider The Stock Market devider Cebu Landmasters nets P2.7 billion sales from Davao project

Cebu Landmasters nets P2.7 billion sales from Davao project

Published Jul 4, 2024 05:45 am

VisMin developer Cebu Landmasters, Inc. (CLI) reported that its Velmiro Heights Davao, its second horizontal project in Davao City, sold out in just two days, generating P2.7 billion in sales.

In a disclosure to the Philippine Stock Exchange, the firm said the 362-unit Velmiro Heights Davao is located on an 11.52-hectare lot in Barangay Magtuod and has stunning views, generous spaces, wide road networks, pedestrian circulation, and security.

The property has single-detached and single-attached Zen-inspired houses with lot sizes ranging from 100 to 258 square meters and prices ranging from P5.2 million to P11.15 million.

The gated property has a guardhouse and premier amenities such as a clubhouse with a function hall, swimming pool and kiddie pool, basketball court, fitness gym, children’s playground, natural green reserves, and al fresco dining area.

Velmiro Heights Davao is the seventh residential development of CLI’s Velmiro brand. It is part of the listed company’s Garden Series, catering to mid—and upper-mid-market buyers, and is efficiently designed to maximize space.

The brand has 2,377 residential units all over Visayas and Mindanao.
“The record-breaking sales performance of Velmiro Heights Davao shows the strong market acceptance of CLI’s projects in Davao,” said CLI Chairman and CEO Jose Soberano III.

He added that, “The residential projects we launched in the area have been selling out in just a few days or within weeks after market introduction.”

CLI has residential, hotel, mixed-use, and township projects in Davao. Its maiden 694-unit Mesatierra Garden Residences is already completed. This was followed by the site development completion of the 23-hectare Davao Global Township.

By the last quarter of 2024, CLI will start turning over Casa Mira Towers LPU Davao units along with those from One Paragon Place, the residential component of the mixed-use The Paragon Davao.

The 263-room Citadines Paragon Davao will also open its doors to the public in early 2026.

CLI has 94 residential projects in 17 key cities in VisMin and has delivered more than 16,000 housing units to different markets in the region. Close to 4,600 units are in Davao City.

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Cebu Landmasters Inc. Jose Soberano III
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