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P1.8B residential complex breaks ground

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The time capsule for the Cebu Landmasters Inc. latest development, Casa Mira Towers, is lowered by Jose Soberano III, chairman, president and CEO; Bacolod City Mayor Evelio Leonardia; Jose Franco Soberano, chief operating officer (3rd to 5th from left) as Janella Mae Soberano, AVP and head of Corporate Communications and Customer Relations; Joanna Marie Soberano-Bergundthal, senior vice president and marketing director (l-r) look on.*

Bacolod City continues to enjoy high investors’ confidence as major developer in the VisMin area, Cebu Landmasters, Inc., broke ground yesterday morning on its fifth development project dubbed the Casa Mira Towers along Lacson Street in Barangay Bata.

Leonardia led local government officials at the ceremony attended by CLI chairman and president Jose Soberano III, who is also the concurrent chief executive officer.

Also with them were Jose Franco Soberano, CLI’s executive vice president and chief operating officer, and other corporate officials.

The Casa Mira Towers Bacolod is the newest project of CLI in the city comprised of four towers valued at P1.8 billion with a total of 1,446 residential units, company executives said.

The development is in addition to the existing three-tower Mesavirre Garden Residences built in the same master planned complex that also offers commercial spaces, health, fitness and entertainment facilities.

With the Casa Mira Towers, a flagship housing brand of the company, CLI has increased its investments in Bacolod to P8 billion, the younger Soberano, the firm’s COO, disclosed.

They are looking forward to expanding their investments in Bacolod City especially in the housing side because of their confidence in the current administration, he added.

His father, Jose Soberano III, minced no words in expressing his admiration for Leonardia’s administration and leadership.

In his opening remarks, Soberano commended Leonardia for helping CLI to grow “in the beautiful city of Bacolod.”

“Since the time that we started with our first project here, Mayor Bing was already at the helm so we can say that we grew together and probably one of the major reasons why we have grown to such an extent (it is) because of the leadership of Mayor Bing,” the senior Soberano said.

From the start, he continued, “we are happy to be a part of the success that you have created here.”

“We are grateful to the father of the city. You can put that on record that we are part of it. What we have here is really the fruits (of) what the mayor has also been supportive of this,” he said.

The CLI project, he added, will not only generate employment for the local residents but will consequently help increase the LGU’s revenues through the payment of taxes.

“We are going to be an active citizen and a partner of Bacolod City,” Soberano said.

They will also be putting up the Citadels Hotel next year which will add to the grandeur of Bacolod City. They hope this become operational by the third quarter of 2023, he added.

Jose Franco Soberano said the market in Bacolod is strong despite the pandemic because there were buyers. So, they have confidence in investing in the city and that it was the best move.

He said that about 80 percent of the units in their first tower are already sold out when they started a month ago, equivalent to about P1 billion in sales. Their housing project in Brgy. Granada also sold out.


At the sidelines of the ground-breaking event, Leonardia told reporters that the city government is committed to help businesses and investments grow in Bacolod.

“Our vision is for Bacolod to be more livable, more vibrant and more resilient. We want a climate more conducive for business to grow; an environment that is good for them,” the mayor pointed out.

The decision of the CLI to venture into a new project is testimonial of the company’s confidence that Bacolod is where they should put their money.

This is definitely a positive indication for the city, Leonardia added.

The new development project of the CLI augurs well with the city’s economic recovery program that included infrastructure via increased government spending as one of the major components.

If the private sector spends likewise that is a plus. We are for creation of more jobs, more stimulation of the economy, Leonardia said, adding that his administration will resume mounting an aggressive investment promotion program after the COVID pandemic.

“That’s another component of our economic recovery program,” Leonardia said.*


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June 2024

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