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With flagship infrastructure development projects set in the region in line with the Duterte administration’s pump priming of growth outside of Luzon, CLI expects the Vis-Min area to continue to be a booming hub for investment.
CLI has recently filed an application to raise up to P3.8 billion from an initial public offering with the Securities and Exchange Commission to help fund its Vis-Min expansion.
Casa Mira Linao
“Seeing a compelling mix of opportunities posed by record growth in the region, we are broadening our expansion to key rapidly growing cities like Metro Davao, Cagayan de Oro, Iloilo, and Bacolod,” said Jose Soberano III, CLI president and CEO.
The investment of the company and its expansion are aimed to meet the market’s demand in residential and office spaces.
To fill in Cebu’s rising demand for office and residential space as a favored BPO hub, CLI is completing the top-end Baseline HQ office project in a strategic Metro Cebu location.
CLI will soon begin construction of Latitude Corporate Center, destined to be a prestige office address for small and large business and BPO’s in Cebu Business Park.
Vis-Min projects
According to Soberano, CLI is developing 11 new projects in 2017 alone, in the identified Vis-Min hotspots in Metro Davao, Cagayan de Oro, Iloilo, Bacolod, and Dumaguete. These projects will comprise a mix of residential, offices, commercial and hospitality developments.
In 2016, the company registered a 41.5 percent rise in revenues to P2.18 billion from P1.54 billion in 2015. Also, the firm currently accounts for the second largest market share or 11 percent of the total supply of residential condominiums in Metro Cebu, only second to real estate giant Ayala Land.
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