HOMEGROWN publicly listed real estate developer Cebu Landmasters Inc. (CLI) told the local bourse Thursday, Sept. 29, 2022 that its Palawan project booked reservation sales of P1.2 billion.

CLI said it sold in less than one week 85 percent the first two towers of Casa Mira Towers Palawan with 480 units.

Casa Mira Towers Palawan is a seven-tower condo project.

The fast sales take up brings the Cebu developer’s total 2022 reservation sales to P13.5 billion to date.

Projected gross revenues from this development is pegged at P6 billion, with phase one set for completion in the fourth quarter of 2025.

“We are very pleased that our first venture in Palawan is a success. This shows that there is indeed a broader market for our bestselling housing brand Casa Mira beyond VisMin, and that our company Cebu Landmasters is gaining traction in new areas of expansion,” said CLI chairman and chief executive officer Jose Soberano III.

Aside from the locals, Soberano observed that majority are overseas Filipino workers and professionals from neighboring localities who want to invest in Palawan.

“This is a strong indicator of important factors that appeal to investors: the development’s value proposition of giving more and its location being close to tourism sites in Palawan,” CLI said.

Located in a 2.09 hectare property, Casa Mira Towers Palawan offers 20 square-meter studio units and one-bedroom units up to 32 square meters in seven mid-rise towers.

There are close to 18,000 Casa Mira units throughout key cities in Visayas and Mindanao – and growing. Casa Mira Towers Palawan will be the 15th community to carry the brand.