Cebu Landmasters Inc. (CLI) recently announced the 2021 rollout of its flagship economic housing brand Casa Mira to four more key cities in the Visayas-Mindanao region as the response to the massive demand for safe and secure value housing heightened by the pandemic.
A study from Leechiu Property Consultants disclosed that by 2022, housing backlog is estimated to reach 6.8 million housing units, 44% of which is from the economic segment catered by the Casa Mira brand.
CLI chief executive officer Jose Soberano III observed that the housing backlog in the Visayas Mindanao region became very apparent in 2020 as infections from COVID-19 surged highlighting a need for economic housing in secure and well-planned communities.
He said: “Many new residential seekers met that need by purchasing Casa Mira homes. As demand in other parts of the region continues to be largely unmet, we’ve made it our mission to roll out more Casa Mira projects in more VisMin cities to fill that gap.”
Ten Casa Mira communities with a development cost of P10.24 billion and a total of over 10,000 housing units are currently in five VisMin locations: Cebu, Bacolod, Cagayan de Oro, Iloilo and Sibulan, Negros Oriental.
New developments will be launched in Dumaguete this month and in other key cities in VisMin in the next few months particularly in Ormoc, Puerto Princesa and Davao City.
At the height of the pandemic in 2020, Vismin residents purchased in record numbers CLI’s Casa Mira housing units priced from Php 1.6 M. They altogether accounted for 69% of CLI’s reservation sales of P14.23 billion, the firm’s highest to date. This robust sales figure indicates the level of revenue CLI will be recording in the future of which Casa Mira has always been a significant contributor with 30% share.
“We believe that an expansive mood and lessons learned from the pandemic–where homes in well-planned communities provided a safe haven–will drive Casa Mira forward for the balance of the year,” says Soberano.
Through Casa Mira, CLI has maintained the largest residential market share in Visayas and Mindanao by upgrading the lifestyle of its residents with generous community amenities usually packaged with higher-priced developments. Thus, Casa Mira townhouses with floor areas from 40 sqm. to 62 sqm. or residential condominium units with floor areas from 20 sqm. to 36 sqm. are perceived to offer great value.
Casa Mira communities also offer more value to the buyers by providing more open spaces and more amenities such as a clubhouse with multi-purpose halls, chapel, swimming pool, basketball court and children’s playground. Casa Mira is also envisioned to be a complete community with retail spaces inside the subdivisions where residents can purchase their basic necessities.
Casa Mira homes have been warmly received in every city, even in Dumaguete where it was recently launched. Casa Mira Home Dumaguete offers a gated and well-planned community located near a transport hub, schools and churches; and has 586 townhouse units a short walk away from a community clubhouse, swimming pool, multi-purpose court, and play area.
As much as 60% of the development’s 6.1 hectares in phase 1 has been earmarked as open space allowing residents breathing and leisure space. Moreover, the community is protected by a 24-hour security system and enjoys professional property management services offered by a CLI affiliate.
“We envision each Casa Mira project to provide the most ideal community for the average Filipino Family. It’s a place where families can grow and live their best lives,” explained Soberano.
Casa Mira projects have won various awards. Casa Mira South in Cebu was named Best Housing Development in the province by PropertyGuru Philippines Property Awards 2018. The same development was named as the Best House of the Year in the Visayas and Mindanao during the Outlook Awards 2018 by Lamudi. In 2019, Lamudi named Casa Mira Towers in Labangon as the Best Affordable Condo of the Year.
The brand’s rapid expansion from its first developments in Cebu, to Negros Oriental, to Cagayan de Oro and Bacolod in the past seven years attests to its ability to meet its promise “to give more to the Filipino family.”
With the rapid development of CLI, the stockholders of the company have approved the 123% stock dividends during the special stockholders’ meeting. The purpose is to strengthen the capital base of the listed company that now has more than P50 billion total assets, and to prepare the firm for any significant equity raising opportunities. The aforementioned stock dividends will be sourced from the increase in authorized capital stock of CLI upon approval of the Securities and Exchange Commission.