Upbeat market pushes Landmasters' projects

CEBU, Philippines - Owing to the upbeat real estate industry in Cebu, Landmasters, Inc. will invest on different housing projects this year, including a commercial building.

CLI, owned by business leader Jose Soberano will open up another residential development in Media Once, Toledo City, and taking advantage of the growing demand for subdivision-housing off the western part of Cebu.

Soberano, announced the opening of the company's 5th village community project in Cebu, to be called San Josemaria Village-Toledo. The upcoming Toledo project is situated in a 3.6 hectare property that will offer a total of 126 houses, with complete amenities such as clubhouse, among others.

Amid the depressing economic outlook, Soberano expressed optimism that building villages in Cebu is still a profitable venture, owing to the dynamic economic movement in the province. The project will be formally launched on March 14, 2009.

CLI's first venture in residential communities was initiated in 2001 with the launching of Villa Ester residences, which was likewise fully sold in less than a year from its launch. This set the stage for the incorporation of Cebu Landmasters, Inc. in September 26, 2003 with the initial venture and introduction of affordable housing projects using the brand name: "San Josemaria Villages."

The company pioneered the first residential subdivision in Balamban, Cebu in 2004. This was followed through with another residential development in Minglanilla, Cebu in 2007.

San Josemaria Village-Balamban is already sold out and a phase 2 development is targeted to be launched in the second semester of this year.

Soberano, who now sits as a trustee of Chamber of Real Estate and Builders Association (CREBA-Cebu) reported that its San Josemaria Village-Minglanilla generated also an encouraging market take up, that housing products had been sold in just a year from its launching in September 2007.

A Phase 2 in San Josemaria Village-Minglanilla is now in the pipeline and is targeted to be launched in the second half of 2009.

The building up of another San Josemaria Village in Talisay City is slated for development within the 3rd quarter of 2009.

In the planning stage is the Asiatown property for a 16-story residential condominium. In addition, a prime residential lot located in El Dorado Subdivision, Banilad, Cebu City will soon be built up to provide metropolitan townhouses.

The company, which is managed by the Soberano, and wife Marose, is keeping its faith in the bullishness of Cebu real estate industry in pouring out investments amid the fragile economic landscape, which pushed some developers to adopt "wait and see" attitude.

With this, Soberano joins few optimistic developers in Cebu to pursue development projects, while the global economy is still struggling.— Ehda M. Dagooc