Cebu Landmasters Inc. (CLI) chief executive officer Jose Soberano III and Borromeo Brothers Estate Inc. (BBEI) managing director Jose Daniel Borromeo confirm another joint venture project to be launched this year. /Irene R. Sino Cruz
CEBU CITY, Philippines – Cebu Landmasters Inc. (CLI) and Borromeo Brothers Estate Inc. (BBEI) are eyeing another real estate project that is set to be announced in the middle or the 3rd quarter this year.
CLI chief executive officer Jose Soberano III bared their plans of another project during the topping off of Latitude Corporate Center. The 24-storey building is the first joint venture project of the two companies through the BL BCP Ventures.
BBEI managing director John Daniel Borromeo confirmed this during an interview, adding that this will be located ‘somewhere in Cebu.’
The two executives, however, did not give out any more details, except to say that it will be something different.
Soberano explained that they feel confident over the prospects of their projects because they see bright prospects in the real estate industry.
In fact, he disclosed that there’s a long list of companies wanting to lease space in Latitude Corporate Center. These are composed mostly of information technology and business process outsourcing companies, Soberano said.
He said they are investing around P1.5 billion for the Latitude Corporate Center structure alone. The property where the building is composed of two parcels of lot, one owned by BBEI and the other by CLI.
The topping off of Latitude Corporate Center was held Wednesday morning and led by the CLI CEO Soberano, Borromeo, CLI chief operating officer Jose Franco Soberano, BEI president Bernadette Gallego and other executives of the two companies.
Cebu Landmasters Inc. (CLI) chief executive officer Jose Soberano III led the topping off of Latitude Corporate Center. /Irene Sino Cruz
According to a company statement, all of Latitude’s sellable units, representing 20 percent of total floor space have been sold. The remaining 80 percent are leasable spaces.
“This 83-unit corporate building can accommodate companies looking for small, medium or large office spaces with unit sizes ranging from 60 up to 2,000 square meters,” says Jonel Borromeo.
Latitude Corporate Center is an eco-friendly structure, having acquired a Building for Ecologically Responsive Design Excellence (BERDE) certification. BERDE is the country’s voluntary green building rating system developed by the Philippine Green Building Council.
“It will be the first BERDE certified building in Cebu Business Park with its 20 percent green space, a plaza with green sanctuary, a green sky lounge at the 14th floor, and garden deck at the 17th floor,” Jose Franco Soberano said.
The high-rise building is an additional project for CLI’s recurring business, next to the Park Centrale at the Cebu IT Park and Base Line Center in Juana Osmeña Street, Cebu City. It is located at a 3,000-square-meter property beside the Pag-ibig Fund-WT Corporate Tower. /dcb