By: Dolly Yasa
BACOLOD City – Cebu Landmasters headed by its chairman, president, and CEO Jose Soberano III unveiled P4.3 billion worth of investments in Bacolod City on Sept 18, 2019.
The development includes a six-tower condominium project and a sprawling commercial complex to complement the 220 plus-room Citadines Hotel.
Soberano said the project eyed to be completed by year 2022 is a partnership with the Capitaine owned by the family of Alec Lustre and the Santa Clara Estate of Negros Occidental Governor Eugenio Jose Lacson.
The property where these are being constructed is owned by the Lacson family.
Soberano told reporters here that with the development works, thousands of locals are being employed and once Citadines Hotel is completed, about 100 to 250 regular staff will also be hired.
Citadines Bacolod will be managed by the internationally acclaimed Ascott Brand and will have a 1,000-seat convention room.
Soberano said the six-tower condominium is already 70 percent booked and will be managed by Cebu Landmasters.
On the other hand, the sprawling two-storey commercial complex that will also be constructed in front of the hotel will be owned and operated by the Sta. Clara Estate.
“It is going to be a cozy, retail, restaurant commercial complex on a 10,000-square meter gross land area,” he added.
It is a good synergy, Soberano said of the tri-partnership.
He said the whole area where the development projects are being constructed is 3.6 hectares.
Cebu Landmasters is the leading developer in the Visayas-Mindanao region with a total of 58 projects in different stages of development located in seven cities in the region.
It has 28 completed projects worth P17 billion.
It was recently named as Best Developer in the Philippine by Property Guru during the Philippines Property Awards 2019.