Cebu Landmasters Signs Joint Venture With YHES Inc., and Agreement with The Ascott Limited
Cebu Landmasters seals joint venture agreement with Davao’s leading businessmen, enters into second agreement with The Ascott Limited.
Last Friday, November 10, 2017, Cebu Landmasters Inc. (CLI), the number one local real estate developer in Metro Cebu signed a new joint venture – YHES (Yuson Huang Excellence Soberano) Inc. to launch the upcoming mixed-use project in Davao which will include residential, condotel, retail, commercial center and convention facilities. The joint venture partners are CLI represented by CEO Jose Soberano Ill, Yuson Strategic Holdings Inc. represented by Frederick Yuson, and Davao Filandia Realty Corporation represented by Jason V. Huang.
”Davao City is my hometown and I am honored to partner with Jason Huang and Cebu-based real estate giant CLI in developing what will become one of Davao’s biggest landmark,” said Yuson Strategic Holding President and CEO Frederick Yuson.
“I am very excited to be part of this new joint venture. This latest project will stand in a 1.9-hectare land along McArthur Highway in Matina, Davao City,” said Davao Filandia Realty Corp. President and CEO Jason Huang. The said property is owned by Yuson and Huang. Both Davao business moguls own several companies in Davao and are members of the known Villa-Abrille Clan in Davao.
This is the second joint project of CLI with Yuson after the MesaTierra Garden Residences located in E. Jacinto Street, Davao City which was under the Yuson Excellence Soberano (YES) Incorporated joint venture agreement.
Service Management Agreement with The Ascott Limited
CLI also entered into Service Management Agreement with The Ascott Limited for Citadines Riverside Davao. Contract was sealed on Friday, November 10, during the joint venture signing of the YHES, Inc. partners.
”We are very happy to partner with CLI in its second Citadines and The Ascott Limited’s first in Davao. CLl’s first Citadines is in Baseline Center and also The Ascott Limited’s first in Cebu City,” emphasized Arthur G. Gindap, The Ascott Limited’s Regional General Manager for Philippines and Thailand.
Cebu Landmasters Inc. Chairman and CEO Jose R. Soberano lll said that, ”Together with our joint venture and management partners, we are committed to bring a modern and comfortable city lifestyle to Davao City, providing Davaoenos everything they need in one venue.”
Citadines Riverside Davao is an international serviced residence that offers short and long-stay guests with spacious apartments and personalized services through an Ascott Host – personal concierge of guests staying in the property where they can coordinate their needs even prior to their stay in the property. Aside from this, the usual housekeeping, heightened security and amenities are also provided.
