Landco to build P5-B mixed-use complex in Cebu

Landco Pacific Corp., the property arm of Metro Pacific Investments, will transform a 200-hectare property in Cebu into a residential and mixed-use complex estimated to cost around P5 billion.

Landco president and chief executive officer Alfred Xerez-Burgos said the development of the project is expected to take place over a period of eight years.

The project, which aims to attract residents from the Visayas and Mindanao, involves the development of top-of-the-line residential units.

Landco is aiming to become a leading player in the real estate industry in the next five years as it seeks to build a track record of highly successful developments, underpinned by a strong financial base and organization.

The company will start construction next year of Hacienda Escudero, which would house tourism-related amenities like hotels, an 18-hole golf course, food and entertainment, themed shopping centers and spas, as well as residential subdivisions and campus districts anchored on the concept of the successful Villa Escudero resort in Quezon province.

Landco develops high-end residential resorts, leisure farms, first-home residential developments, shopping centers and memorial parks. It was founded by Xerez-Burgos in 1990.

Landco has earmarked about P1.6 billion for the construction of four new malls in the provinces following the success of its three malls in Naga, Legaspi and Lucena.

It also spent over P1 billion to expand its 92-hectare resort and leisure estate in Calatagan, Batangas which is being groomed as the Boracay of Luzon.

A first of its kind in the country, the development will feature exclusive seaside home lots, hotel, a commercial center with retail, dining and entertainment outlets, apartment and condominium buildings and recreational structures to draw Metro Manila tourists to Calatagan.

Calatagan already boasts of white sand beaches, historical landmarks, a world-class championship golf course and eco-tourism sites. Landco proposes to complement these existing attractions beginning with a masterplanned tourist hub integrating residential and tourism projects that will serve as a base from which to enjoy Calatagan’s various attractions.

Landco needs P4.3 billion in the next three years to bankroll its expansion. Of this amount, P2.2 billion will come from new equity while the balance of P2.1 billion will come from internally-generated funds.

It also plans to build four malls in key emerging cities in the next five years to add to its three malls in Legaspi, Cabanatuan, and Lucena. Each mall is expected to cost P600 million.

With all these projects in place, Burgos said Landco’s revenues are expected to grow five-fold in five years.

Among its completed projects are the Canyon Woods Residential Resort; Peninsula de Punta Fuego (an exclusive, world-class seaside community along the coast of Nasugbu, Batangas which has since become the benchmark for a seaside residential resort); Leisure Farms in Lemery, Batangas; and Ponderosa Leisure Farms (a flower garden residential development in Silang Cavite).