DEVELOPER Cebu Landmasters Inc. (CLI) announced Monday, Sept. 28, 2020, the completion of the three-tower Mesaverte Residences in Cagayan de Oro City.

In a statement, CLI said it has turned over more than half of the Mesaverte’s 700 units to their owners.

This is the first CLI project outside Cebu and the third completed project under the mid-market Garden series.

The company said construction of the three towers, governed strictly by health safety protocols, continued even during the lockdown in Cagayan de Oro as well as in other project sites in the Visayas and Mindanao, where quarantine restrictions were minimal.

With a project cost of P1.2 billion, Mesaverte is seen to generate gross revenues of about P2 billion.

Jose Soberano III, chief executive officer, said the company is focused on meeting the demand for affordable and mid-priced housing in the Visayas and Mindanao.

“We’re happy that the quick takeup of our units affirms we are meeting their needs for residences that are priced right and in strategic city locations. Moreover, our residences are part of well-managed communities that offer individuals and families personal safety and security they need during these uncertain times,” he said.

CLI said it posted record reservation sales from housing projects of P7.43 billion, an increase of 41 percent year-on-year, in the first half of 2020.

The company has a total of 70 developments in 15 cities across the Visayas and Mindanao, including 14 mid-priced housing projects worth P19 billion. (MVI/SunStar Philippines)