CLI Sells Out Cebu Condo Dev't In 3 Days

Leading developer in Visayas and Mindanao Cebu Landmasters, Inc. (CLI) sold out in a record three days an upscale residential project nestled in a prime location in Cebu City just last week.

Photo Insert: The 20-storey Ramos Tower at Calle 104, which targets young professionals, has 325 studio and one-bedroom units on vibrant Ramos Street.

The sales of the PHP2.4 billion for Calle 104, which straddles Ramos and Ranudo Streets is a popular address of prominent families in Cebu. The high-end project in Cebu is CLI’s eighth launch this year across VisMin, bringing the total 2022 reservation sales to over P13.5 billion.

“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,” says CLI chief executive officer Jose Soberano III.

“Majority of its buyers are medical professionals, particularly doctors, who choose Calle 104 as their investment of choice.” Calle 104 is a joint venture project of CLI and Borromeo Brothers Estate, Inc. under Cebu BL-Ramos Ventures Inc.

Soberano added: “The sales velocity of the project shows that there is a growing demand for upscale residential developments coinciding with the economic recovery and progress of Cebu City."

The name of Calle 104 refers to the house number of an iconic home, the Garcia-Escaño Mansion on Ranudo Street, adjoining another property on perpendicular Ramos Street. With 5,530 sqm. footprint, Calle 104 comprises 2 Towers.

The 20-storey Ramos Tower at Calle 104, which targets young professionals, has 325 studio and one-bedroom units on vibrant Ramos Street, while the 18-storey Ranudo Tower at Calle 104 has 192 units offering studios up to three-bedroom penthouses up to 104 sqm.

Prices of the units range from PHP3.5 million for a studio to PHP23.7 million. The Garcia-Escaño mansion has also been restored to serve as a gateway for this tower. Calle 104 also offers swimming pools, function rooms, a jogging path, and gym for its resident Projected gross revenues from the project has been pegged at PHP3 billion.

The upscale mixed-use development designed by Casas + Architects to be completed in Q4 2026 has two distinct towers connected by a retail podium with a gross floor area of 5,000 sqm. of lifestyle options including restaurants, clothing, and essentials. There is also a 2,300 sqm. supermarket located in the basement for the convenience of residents.

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