Cebu Landmasters sells out second Davao horizontal project

Property developer Cebu Landmasters Inc. (CLI) sold out its second horizontal project in Davao in two days.

In a statement to the Philippine Stock Exchange on Thursday, the listed company said its 362-unit Velmiro Heights Davao generated P2.7 billion in sales.  This is the company’s second horizontal project in Davao City and the seventh residential development of the Velmiro brand, which has a total of 2,377 residential units all over Visayas and Mindanao.

The property is located on an 11.52-hectare lot in Barangay Magtuod and features single-detached and single-attached Zen-inspired houses on lot sizes ranging from 100 to 258 square meters, priced from P5.2 million to P11.15 million.

“The record-breaking sales performance of Velmiro Heights Davao shows the strong market acceptance of CLI’s projects in Davao,” CLI chairman and chief executive officer Jose Soberano III said.

“The residential projects we launched in the area have been selling out in just a few days or within weeks after market introduction,” he added.

CLI will be turning over in the last quarter of the year the Casa Mira Towers LPU Davao units along with those from One Paragon Place, the residential component of the mixed-use The Paragon Davao. Likewise, it is expected to open in early 2026 its 263-room Citadines Paragon Davao.

The company plans on expanding to Luzon soon.