Cebu Landmasters Inc. (CLI) expects to generate P5.3 billion from its latest project, Mivela Garden Residences condominium in Metro Cebu.
The development has generated overwhelming interest as it is 80 percent sold out after three weeks of selling.
The four-tower Mivela Garden Residences will be built for P2 billion and is the third of CLI’s garden series residential projects in Cebu and its sixth in the Visayas-Mindanao area.
CLI said with the project, it expects to meet the expected P12.5-billion worth of reservations sales for this year.
The development features a total of 1,536 units, catering to mostly individuals and starter families with its mix of studio and one-bedroom units. The project sits on a 1.26-hectare area in the prominent Banilad area in Cebu City where most of the hotels and large shopping malls are located.