CEBU Landmasters Inc. (CLI) said Friday that it had partnered with Xavier University to develop a P120-million access road aimed at improving urban connectivity between uptown and downtown Cagayan de Oro City.
The Mindanao and Visayas-based developer told the bourse that it and Xavier U, as the school is also known, would develop the 2-kilometer-long, 10-meter-wide Manresa access road, which would have two vehicle lanes with a provision for a bike lane.
The road will link Masterson Avenue to Balulang Road, providing a faster route to the Macasandig Bridge.
The partners jointly contributed the land for the access road, with Cebu Landmasters to fully fund construction of the project.
A concrete-pouring ceremony was held on Friday to launch construction, with the road targeted for completion by the fourth quarter of 2027.
Once completed, the road is expected to ease traffic congestion, shorten travel times and improve daily mobility for residents, students, workers and businesses in Cagayan de Oro.
The access road is also envisioned to support economic activity in the area in line with the city’s long-term urban growth plans.
The Manresa access road will traverse Manresa Town, Cebu Landmasters’ 14.6-hectare integrated university township, providing seamless connection to Xavier U’s Masterson campus.
The township is designed with open green spaces, wide roads and sustainable features, and is located near 28 hectares of protected forest.
“Manresa Town is built to shape the future of uptown CDO,” Cebu Landmasters Chairman and CEO Jose Soberano III said.
“By creating a sustainable, connected and vibrant community for students, educators and residents, it supports Cagayan de Oro City’s growth and enhances the quality of life for everyone who lives and works here,” he added.
The company also said that its first residential project in Manresa Town, One Manresa Place, generated P4 billion in sales within two days of its launch and was now 99-percent sold.
Cebu Landmasters said it currently had more than 130 projects across 18 key cities in the Visayas and Mindanao and was preparing to launch its first project in Luzon.
The company’s shares ended Friday unchanged at P2.47 each.
