Cebu Landmasters, Inc. (CLI) has entered Bohol with the recent launch of Velmiro Greens residential development in Dauis town on Panglao Island.
The developer said this project will rise on a 3.6-hectare property in Dauis and is expected to bring in P900 million in revenues.
It will be a gated community with 204 housing units, townhouse or single detached of 60 to 100 square meters, and will have a multi-level clubhouse with function rooms, swimming pool, fitness gym, basketball court and playground.
It will be the fourth project under the Velmiro brand, which is targeted towards the middle-income market, the company said in a statement issued on March 3, 2020.
Other Velmiro developments are in Cebu, Cagayan de Oro and Bacolod cities.
The Velmiro brand is associated with generous open spaces with landscaped parks, a swimming pool, multi-level clubhouse with functions rooms, fitness gym, basketball court, playground and surrounded by landscaped parks.
“Our buyers feel they are getting great value for their money and this has resulted in good takeup rates across all our Velmiro projects,” CLI president and CEO Jose Soberano III said.
CLI said it expects to complete the development in 2023.
The mid-market segment accounted for 37% of the company’s total sales in 2019. (Ventures Cebu)