The family-owned Montesclaros Group of companies has entered the Cebu market with the launch of its condominium and hotel project along B. Rodriguez St. in Barangay Calamba.
The company undertaking the Cebu project is M. Montesclaros Development Corporation, the real estate unit of M. Montesclaros Holdings, Inc.
Aside from the condo and hotel, which will be called Double M Towers, the company will also launch subdivision projects in Cebu.
The family is among the biggest contractors of government infrastructure projects in Northern Mindanao.
They also own and operate livestock and horse breeding farms, a group of restaurants and a business hotel in Bukidnon.
M. Montesclaros Enterprises, Inc. (MMEI), the construction and engineering unit of the group, was listed as the 4th biggest government contractor under the Duterte administration in a September 4, 2018 report by the Philippine Center for Investigative Journalism (PCIJ).
MMEI was awarded infrastructure projects worth P6.358 billion from July 2016 to December 2017, the report said.
The company holds a Triple-A general engineering license from the Philippine Contractors Accreditation Board (PCAB), a license granted to contractors with net worth of at least P180 million and who can undertake roads, highways, railways and bridges, among others.
The family, through M Montesclaros Hospitality Corp., operates a business hotel called Double M Hotel in Valencia City, Bukidnon.
The family also runs a group of restaurants, which started with the popular Bukidnon Roadhouse Cafe. Other brands are Tirso’s Deli and Roasters, Tisa Steaks and Chops, and Totsy’s Cakes and Pastries.
The group's real estate company recently launched economic townhouse projects in Bukidnon.
In Cebu, reports said Double M Towers will consist of a residential condominium tower and a hotel. (Ventures Cebu)