MANILA, Philippines — Cebu Landmasters Inc. (CLI) is acquiring 14.3 hectares of Xavier University (XU) - Ateneo de Cagayan’s Manresa property in uptown Cagayan de Oro.
Proceeds from the sale will be used to develop a new 21-hectare U Masterson Campus.
The new 21-hectare XU Masterson Campus, named after the late Fr. William Masterson SJ, is envisioned to catalyze development in Northern Mindanao with a sustainable and new normal-ready campus masterplan.
Development of the campus is scheduled to begin in the second quarter of 2022.
“We envision an academically stronger university in this new campus – one that will facilitate learning in the new normal and at the same time produce men and women for others that can make relevant contributions to Mindanao,” said Fr. Mars Tan S.J., president of Xavier University.
CLI chairman and chief executive officer Jose Soberano III said the development would serve as a key catalyst for both the education and economy in the entire region.