C03985-2021

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 8, 2021
2. SEC Identification Number
CS200321240
3. BIR Tax Identification No.
227-599-320-000
4. Exact name of issuer as specified in its charter
CEBU LANDMASTERS, INC
5. Province, country or other jurisdiction of incorporation
CEBU CITY, CEBU, PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10TH FLOOR, PARK CENTRALE, B2 L3, JOSE MA. DEL MAR ST., CEBU IT PARK, APAS, CEBU CITY Postal Code 6000
8. Issuer's telephone number, including area code
(032) 2314914
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES 1,552,400,000
11. Indicate the item numbers reported herein
OTHER ITEMS

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Cebu Landmasters, Inc.CLI

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Cebu Landmasters tops off Php 3.5 billion premier residential tower in Cebu IT Park
Background/Description of the Disclosure

Leading developer in VisMin Cebu Landmasters Inc. (CLI) and joint venture partner El Camino Developers Inc recently topped off its Php 3.5 billion high-end tower, 38 Park Avenue, nestled right at the heart of the Cebu IT Park, envisioned to be among the most preferred residential locations in Cebu.

The 38-storey tower with a sales value of Php 5.5 billion is already 96% sold, showing the market’s positive response for this project. 38 Park Avenue has successfully topped off despite lockdowns due to the pandemic as construction continued following strict compliance to health and safety protocols including Covid-19 testing. This was also driven by financial support to these third-party construction workers through weekly allowances on top of daily wages during the height of the pandemic.

38 Park Avenue is the first phase of the three-phased mixed-use development within a 1.2-hectare property in the highest valued location in Metro Cebu. Set to start turnover by Q4 2021, the development offers upscale residential units and a lifestyle center within The Plaza, a generous park space with retail area. The next phases are currently under the planning stage.

The mixed-use development is inspired by New York City’s high-end residential towers and is developed and managed by CLI in partnership with El Camino Developers Inc., a consortium of five homegrown property companies composed of Gothong Southern Properties, Acrissor Development Corp., 12Sika Holdings Corp, RKP Property Holdings Inc. and Cebu Landmasters.

38 Park Avenue offers 764 units with 459 studio units, 230 one-bedroom units, 56 two-bedroom units, 11 three-bedroom units and eight penthouse units. All units have been laid out around a soaring atrium that infuses light and energy to the entire development, according to top architectural firm Aidea Philippines and international design consultant Callison RTKL.

CLI chief operating officer Franco Soberano says: “38 Park Avenue’s distinct sustainable design, its generous mixed-use masterplan and premium location within the Cebu IT Park ensure that it will offer a new residential option not only for Cebuanos, but also for business and leisure travelers from other global markets. The Cebu property market remains to be one of the bright spots in the region with sustained demand and highly resilient property values.”

The project anticipates the quick recovery of Cebu and the rest of the Visayas and Mindanao with the return of greater global mobility. COVID cases in Cebu have been relatively well managed with medical facilities able to accommodate patients affected by the pandemic.

In the past two years, CLI has emerged as the leading residential developer in the Visayas and Mindanao, present in 15 key cities in the region. Soberano pointed out that premium residential offerings in the heart of Cebu’s highly active business district have also been in demand.

38 Park Avenue is set to feature a Sky Club on the 26th and 28th floors, 8 elevators, a Grand Atrium, 3-level basement parking, 2 high ceiling lobbies – with one each in the East and in the West Wing. The project also has a fitness gym, lounge areas, swimming pool, multi-function hall.

The project ensures safety and convenience through its other services including 24-hour security, CCTV system, 100% backup power, fire detection and property management services.

38 Park Avenue was awarded as the Best High-End Condominium Development in Cebu for 2019 by the 7th Annual Property Guru Philippines Property Awards. ###
Other Relevant Information

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Filed on behalf by:
Name Clarissa Mae Cabalda
Designation Corfin/Investor Relations Manager