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4 Cebu developers reap PropertyGuru awards

Artist's perspective of the proposed Davao Global Township, the first township project of Cebu Landmasters, Inc. (File Photo)

Cebu Landmasters, Inc. (CLI) earned the highest honor at the 7th Annual PropertyGuru Philippines Property Awards as it was named Best Developer, besting top property development companies in the country.

CLI received four other awards, including Best High End Condo Development in Cebu for 38 Park Avenue.

CLI also received a Special Recognition in CSR, a Highly Commended award for Casa Mira Towers Labangon under the Best Affordable Condo Development (Cebu) category, and a Highly Commended award for MesaTierra Garden Residences under the Best Mid-End Condo Development (Davao) category.

Three other Cebu developers also reaped awards.

RFK Holdings, Inc. won the Best Affordable Condo Development in Cebu for its BLOQ Residences, besting other nominees CLI (Casa Mira Labangon) and ABC Prime, Inc. (proposed ARC Towers).

It also received the Highly Commended award for Best Boutique Developer, which was won by Manila-based Torre Lorenzo Development Corporation.

Grand Land, Inc., property unit of the Gaisano Grand Group, won the Best Mid-End Condo Development in Davao for its Amani Grand Citygate Davao.

It also received a Highly Commended award for The Grand Citygate Davao under the Best Mixed Use Development category as well as a Special Recognition in Corporate Social Responsibility (CSR).

ABC Prime won the Best Condo Architectural Design in Cebu for its proposed ARC Towers along N. Bacalso Avenue.

It also received a Highly Commended award for ARC Towers under the Best Affordable Condo Development in Cebu.

University of the Philippines (UP) Cebu, with the support of the Department of Science and Technology Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD), received a Special Recognition in Digital Innovation for FireCheck, an urban fire hazard mapping and fire spread modelling project.

The annual awards, presented by global brand Kohler during an exclusive gala dinner and ceremony on July 5, 2019, bestowed 39 competitive awards and special honors after a rigorous and independent selection process, supervised site visits and deliberations.

CLI is the first winner of the Best Developer title to hail from Cebu. The company and other winners of the major categories will represent the Philippines in the PropertyGuru Asia Property Awards grand finals in Bangkok, Thailand in November.

“We are deeply honored to be awarded as the country’s top developer,” CLI CEO Jose R. Soberano III said in a statement. “This would not have been possible without the efforts of our team and the support of our customers and industry partners. This validates the strength of our growing position as the leading player in the Visayas and Mindanao Region. We look forward to more milestones.”

Pedrito “Jun” Capistrano, CLI vice president for engineering, received the award on behalf of the company.

“We’re just a 15-year-old company and relatively new in the real estate industry. We are overwhelmed to have received these honors,” he said.

CLI listed on the Philippine Stock Exchange in June 2017 after an initial public offering that raised over P2.15 billion.

The company reported a 72% increase in consolidated net income to P2.17 billion in 2018. Consolidated revenues also jumped 72% to P6.76 billion while net income attributable to CLI increased 30% to P1.67 billion.

Read: Cebu developer eyes higher spending, bigger profits

CLI earlier said it plans to spend up to P13 billion and launch P25 billion worth of projects in the Visayas and Mindanao this year. The company is undertaking its first township project, the proposed Davao Global Township in Davao City.

CLI shares closed at P5.12 apiece on July 9, 2019, a 2.4% increase from its IPO price of P5 per share. (Ventures Cebu)

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