Cebu Landmasters leads a joint venture with four other realty firms to form El Camino Developers Cebu, Inc., a 1.17-hectare mixed-use urban park concept that includes a high-rise residential condo, an office tower, and a retail boulevard with a central park strategically situated at the Cebu IT Park.
The four other realty firms are Gothong Southern Properties headed by its CEO and chair Bob Gothong, Acrissor Development Corp. headed by Darren Deen, RKD Property Holdings headed by Ricaredo King, and 12 Sika led by Hector Almario.
Joe Soberano, chair and chief executive officer of Cebu Landmasters, declared that over PhP5 billion has been allotted for the total project cost which is scheduled to start construction by early 2017.
“Over 70 percent of the entire area will be allotted for retail and open spaces. Phase One consists of the 40-storey residential condominium with nearly 600 residential units inclusive of an urban garden and underground parking,” he stated in a press gathering held at the Cebu City Marriott Hotel.
Phase Two will feature the office tower with commercial and retail amenities. Estimated date of completion is 2021.
The El Camino project marks the third such building headed by Cebu Landmasters. The two others are the Park Centrale and the Asia Premier Residences.
In another related project, Cebu Landmasters has partnered with the Borromeo Bros. Estate Inc. under BL CBP Ventures, Inc. for the construction of the Latitude Corporate Center, an upscale office building situated at the Cebu Business Park, or CBP.
As a Grade A office building, the 24-storey Latitude Corporate Center stands to become the tallest office building within the entire park. Among its amenities are eight high-speed elevators, a sky lounge, garden deck, five-level podium parking, and a two-level retail area.
The office spaces are divided as follows: Executive (small, 51 to 105 square meters), Enterprise (medium, 150 to 320 square meters) and the BPO (large, 2,000 square meters.)
An important highlight is the eco-friendly design that is registered with BERDE (Building for Ecologically Responsive Design Excellence) green building rating system, a Philippine version of LEED (Leadership in Energy and Environmental Design.)
Soberano stated that businesses would benefit from its green features while caring for the environment. The building’s assets and its prestigious location at the CBP together with over 150 local and foreign companies assure the investor of a stellar advantage.
The Ayala Center Cebu mall is easily the most well-known entity at the CBP with over 500 outlets. Other nearby neighbors is the Cebu City Marriott Hotel, Cebu Sports Club, Keppel Building, Ayala- FGU, Apple One Towers, among others.
He added that the building will be registered with the Philippine Export Zone Authority
(PEZA) and will be fully equipped with Property Management Services closely monitored by Cebu Landmasters itself.
By RICHARD RAMOS