CEBU Landmasters Inc. said Monday that it was expanding its presence in Luzon through a renewed partnership with Japanese property company NTT UD Asia Pte. Ltd.
The collaboration, to be undertaken via CLI Luzon Ventures Inc., will develop a Japanese-inspired residential and retail mixed-use condominium in Pasig City.
NTT UD Asia is a unit of NTT Urban Development, a real estate company within Japan’s NTT Group.
The project marks Cebu Landmasters’ and NTT UD’s second joint venture in the Philippines following the 2024 development of The Wave Towers at the Cebu IT Park.
Set for launch by the end of this year, the multi-phase development will consist of eight towers and feature efficient space planning, sustainable design and curated amenities aimed at enhancing livability and long-term value.
CLI Chairman and CEO Jose Soberano III said the project underscored the company's ambition to grow as a national developer while bringing Japanese-inspired standards to the National Capital Region market.
“Building on the success of our first collaboration in Cebu, this Luzon project reflects the trust between our organizations and our shared commitment to quality, discipline, execution strengths, together with Japanese-inspired design and development standards, into the highly competitive NCR market,” Soberano said.
NTT UD President and CEO Kou Ikeda expressed confidence in the partnership, noting that Cebu Landmasters' experience and customer-focused approach aligned with the Japan-based firm’s vision for community-centric developments.
“We have been deeply moved by CLI’s extensive experience, their genuine care for their customers, employees, and partners, as well as their appreciation [of] Japanese culture through our first project in Cebu,” Ikeda said.
“We are very excited to take on a new challenge together in a new area through this project. Leveraging the expertise we have cultivated in Japan and overseas, NTT UD will continue to bring fresh perspectives and work together with CLI to create developments that are closely connected to the lives of local communities."
Cebu Landmasters shares slipped P0.02, or 0.80 percent, to close at P2.48 each on Monday.
