Cebu Landmasters to build Velmiro housing and first Mirani condo on 5.6-ha Tagbilaran site

Cebu Landmasters is expanding its Bohol residential footprint with a 5.6-hectare mixed-use project in Tagbilaran City. The development will feature mid-market Velmiro housing and the company’s first Mirani condominium in the province, with commercial spaces.

LISTED DEVELOPER Cebu Landmasters Inc. (CLI) is expanding its residential footprint in Bohol with the development of a 5.6-hectare property in Tagbilaran City into a mixed residential community featuring mid-market housing and its first Mirani condominium project in the province.

“Bohol continues to show strong potential, and our performance here gives us confidence to deepen our commitment to the province. With this new development, we can build on what has worked for us in Bohol through another Velmiro housing development while introducing Mirani as a more affordable option for local residents,” CLI President and Chief Executive Officer Jose Franco B. Soberano said in a statement on Tuesday.

CLI said the master plan for the property will include Velmiro, its mid-market housing brand, and its first Mirani development in Bohol. Mirani will be a mid-rise condominium project with commercial spaces serving residents and the surrounding community, the company said.

The expansion follows the sales performance of CLI’s existing developments in Bohol. Turnover is ongoing at the 256-unit Velmiro Greens Bohol in Dauis, with all units scheduled for delivery by yearend. The 1,056-unit Costa Mira Beachtown Panglao, the developer’s resort-oriented residential project, is 98 per cent sold, with all three towers expected to top off within the year, CLI said.

“We see continued opportunities in Bohol, supported by the province’s strategic location, tourism economy, expanding infrastructure, and growing demand for residential and commercial spaces. We aim to contribute to the province’s growth while creating communities that respond to the evolving needs of the market,” Mr Soberano said.

The Tagbilaran project is part of CLI’s second-half launch pipeline of 11 projects representing more than 5,600 units across key markets in the Visayas and Mindanao, with an estimated sales value of P25 billion. The rollout began in late August with the launch of the P2.88-billion Alto Ranudo residential tower in Cebu City after the company secured a conditional license to sell from the Department of Human Settlements and Urban Development.

CLI has also been expanding its hospitality business to build recurring income alongside its core residential operations. In April, its hospitality arm, CLI Hotels & Resorts, launched the P1.99-billion Radisson RED Cebu Mandaue at Astra Centre in Mandaue City, Cebu. The 144-room hotel is the company’s fifth hotel asset, bringing its operational room inventory to 827 out of a planned 1,719 rooms across 10 hotels.