LISTED PROPERTY developer Cebu Landmasters, Inc. (CLI) reported fully selling out its Velmiro Heights horizontal project in Davao City, generating P2.7 billion in sales.
The 362-unit property was fully sold out within two days, CLI said in a statement to the stock exchange on Thursday.
Velmiro Heights Davao represents CLI’s second horizontal project in Davao City and the seventh residential development under the Velmiro brand, which is part of the company’s Garden Series catering to the mid- and upper mid-market segments.
The property comprises single-detached and single-attached houses on lot sizes ranging from 100 to 258 square meters, with prices ranging from P5.2 million to P11.15 million.
The property features single-detached and single-attached houses on lot sizes ranging from 100 to 258 square meters, priced from P5.2 million to P11.15 million.
CLI Chairman and Chief Executive Officer Jose R. Soberano III noted that the sales performance of Velmiro Heights Davao reflects the market’s positive reception of CLI’s projects in Davao.
“The residential projects we launched in the area have been selling out in just a few days or within weeks after market introduction,” he added.
Velmiro Heights Davao offers amenities including a guardhouse, clubhouse with function hall, swimming and kiddie pools, basketball court, fitness gym, children’s playground, natural green reserves, and al fresco dining area.
Under the Velmiro brand, CLI has developed 2,377 residential units across Visayas and Mindanao.
CLI’s portfolio in Davao includes residential, hotel, mixed-use, and township projects.
The company has completed its maiden 694-unit Mesatierra Garden Residences and finished site development for the 23-hectare Davao Global Township.
For the fourth quarter, CLI plans to commence turnover of units at Casa Mira Towers – Lyceum of the Philippines University Davao and One Paragon Place, the residential component of The Paragon Davao. Additionally, the 263-room Citadines Paragon Davao is set to open in early 2026.
CLI oversees 94 residential projects in 17 cities across Visayas and Mindanao, having delivered over 16,000 housing units to various markets in the region, including nearly 4,600 units in Davao City.
On Thursday, CLI shares fell by 0.38% or one centavo, ending at P2.60 per share. — Revin Mikhael D. Ochave
