Property developer Cebu Landmasters, Inc. (CLI) said it sold out its latest mixed-use project in Cebu City in just three days.
In its disclosure, CLI said it expects to earn gross revenues of P3 billion from the project. This brought its total reservation sales for 2022 to over P13.5 billion.
Calle 104, which has a project cost of P2.4 billion, is a high end mixed-use project that will rise on Ramos and Ranudo Streets in Cebu City.
The name refers to the house number of the well-known Garcia-Escaño Mansion on Ranudo Street, which adjoins another property on Ramos Street. Ranudo is a side street perpendicular to Ramos.
With a 5,530 square meter footprint, Calle 104 will have two towers that will be linked through a podium which will feature restaurants and retail outlets.
A 2,300 sqm. supermarket will be located in the basement for the convenience of residents, while the restored Garcia-Escaño Mansion will serve as the gateway to the two towers.
A 20-story building will rise along Ramos Street. Dubbed as Ramos Tower at Calle 104, it will have 325 studio and one-bedroom units designed for young professionals.
On Ranudo St., an 18-story building to be called Ranudo Tower at Calle 104 will have 192 units, from studio to three-bedroom penthouses of up to 104 sq.m. per unit.
This is the eighth project launched by CLI this year in the Visayas and Mindanao.
“Calle 104 is a well-designed mixed-use project targeted to prominent families in Cebu. Its outstanding performance is also attributed to its strategic location, which is very close to major hospitals in Cebu City,” CLI chief executive officer Jose R. Soberano III said in a statement.
"Majority of its buyers are medical professionals, particularly doctors, who choose Calle 104 as their investment of choice," he added.
He said the impressive response to the project "shows that there is a growing demand for upscale residential developments" in Cebu City.
Calle 104 is a joint venture project of CLI and Borromeo Brothers Estate, Inc. under Cebu BL-Ramos Ventures, Inc.
The development was designed by Casas + Architects. It will be completed in the last quarter of 2026. (MVI/Ventures Cebu)