CLI, Japan firm to build P6.4B residential condo in Cebu IT Park

Business.
Business.(Business File photo)

CEBU Landmasters Inc. (CLI) announces its first international partnership, signing a joint venture agreement with global Japan-based real estate firm NTT UD Asia Pte. Ltd., which is a subsidiary of NTT Urban Development Corp. (NTTUD) to form CLI NUD Ventures Inc.

For its pioneer project, CLI NUD Ventures, Inc. is looking to develop a P6.4 billion two-tower, Japanese-inspired residential development in the heart of Cebu IT Park.

With just over 500 premium dwelling units, Tower 1 is projected to be launched by the fourth quarter of 2024.

NTTUD is a global real estate firm based in Japan and a subsidiary of the country’s leading telecom provider NTT. NTTUD started its global business in the United Kingdom in 2009 and NTTUD has been proactively expanding its global business by working on mixed development, office and residential projects.

The company’s partnership with CLI is its first in the Philippines. / PR

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