Cebu Landmasters sells nearly 70% of Casa Mira Prime Ormoc within two weeks of launch

Cebu Landmasters Inc. reported nearly 70% take-up of residential units at its Casa Mira Prime Ormoc project in Leyte within two weeks of its Sept. 25 launch. The listed developer did not disclose unit counts or sales values. The project is part of a second-half pipeline of 11 projects worth an estim

Cebu Landmasters Inc. (CLI) said nearly 70% of the residential inventory at its Casa Mira Prime Ormoc project in Leyte was sold within two weeks of its Sept. 25 launch. In a disclosure to the stock exchange on Tuesday, the listed property developer said the project offers townhouses, single-detached houses, and duplex units priced from P2.7 million to P3.5 million.

CLI did not disclose the number of units sold, the corresponding sales value, or whether the reported take-up rate covered the project’s entire inventory or only units released for sale. The development is located in Barangay Macabug, Ormoc City, and offers units with floor areas ranging from 47 square metres (sq.m.) to 50.04 sq.m.

Chief Executive Officer Jose Franco B. Soberano said the company plans to continue developing residential projects in Ormoc. The company said its Casa Mira residential brand now covers nearly 20,000 units across the Visayas and Mindanao.

The Ormoc project forms part of CLI’s second-half development pipeline, which comprises 11 projects with more than 5,600 residential units and an estimated sales value of P25 billion. The company did not specify how much of the projected sales value had been realised.

Separately, CLI plans to develop a 5.6-hectare property in Tagbilaran City, Bohol, for residential use. The proposed development will include projects under its Velmiro mid-market housing brand and Mirani mid-rise condominium brand. CLI also expects to turn over units at Velmiro Greens Bohol in Dauis by the end of the year.

The company’s second-half pipeline includes Alto Ranudo in Cebu City, which it said was turned over in August.