CEBU Landmasters Inc. (CLI), together with The Ascott Limited (Ascott), signed its third Serviced Residence Management Agreement for “lyf Cebu City”, a 153-room serviced residence targeting the booming local and foreign millennial market in Cebu City.
“lyf” is the latest brand from Ascott Limited, designed to cater to the increasing number of millennial and millennial-minded travelers. “lyf” signifies a new way of living and collaborating as a community.
“lyf Cebu City” will promote collaboration and connection in a community. It will have spaces where residents and guests will do workshops, cook home-made meals, and socialize with other residents. With the setup of the areas, lyf Cebu City will target technopreneurs, millennials working in start-ups, and individuals from other fields.
The residence will offer a range of apartment designs from 16 to 60 square meters in the third tower of CLI’s Base Line Center project, Base Line Prestige, which is expecting completion in 2018. It has 351 units, of which 88 percent have already been presold. The project is now in its second phase.
“The growth potential offered by tourism is very promising and we are happy to be teaming up for the third time with The Ascott Limited in this project set to introduce new industry benchmarks,” said CLI Chairman and CEO Jose R. Soberano III.
Soberano III added, “Cebu Landmasters is committed to bringing the latest to our Vis-Min markets, especially the influential and flourishing millennial generation, and to the other markets where hospitality continues to be in demand.”
Attending the contract signing event were Soberano, The Ascott Limited Regional General Manager to the Philippines Arthur Gindap and CLI COO Jose Franco Soberano.
Gindap said that the Ascott partnered with CLI “for its credibility”. He also mentioned that CLI has a deep understanding and knowledge of the real estate industry and a strong foothold in the Visayas and Mindanao.
The project is due to be completed in 2021.