Cebu Landmasters Inc (CLI), a developer best known for projects in the Visayas and Mindanao, said it has expanded its partnership with Japan’s NTT Urban Development group to build a large residential and retail mixed-use condominium project in Metro Manila, marking its latest push into the country’s most competitive property market.
CLI said it will develop the project in Luzon through its unit CLI Luzon Ventures Inc in partnership with NTT UD Asia Pte. Ltd., a subsidiary of Japan-based NTT Urban Development Corporation. The planned development will be located along a major thoroughfare in Pasig City within the National Capital Region (NCR), the company said.
The project is expected to be launched by the end of 2026 and will be developed in multiple phases. CLI described it as a Japanese-inspired, multi-tower residential and retail mixed-use condominium complex, with an eight-tower masterplan featuring “efficient space planning,” sustainable design elements and curated amenities and community areas.
The follow-on partnership builds on the companies’ first international joint venture in the Philippines, launched in 2024 in Cebu IT Park through The Wave Towers, a two-tower condominium development, CLI said.
“This partnership with NTT UD Asia is a defining step in Cebu Landmasters’ growth as a national developer,” CLI chairman and CEO Jose Soberano III said, adding that the Luzon project would bring the company’s execution model and market knowledge to NCR while drawing on Japanese-inspired design standards.
NTT Urban Development President and CEO Kou Ikeda said the group plans to leverage expertise built in Japan and overseas to develop projects closely connected to local communities, while expanding in the Philippines alongside CLI.
For CLI, the new Metro Manila project broadens its geographic footprint beyond its traditional stronghold in secondary cities, where it has built a reputation for mid-market residential and mixed-use developments. The move also tests CLI’s ability to scale in NCR, where competition is intense and buyers have become more price- and financing-sensitive amid higher borrowing costs and a growing supply pipeline across key business districts.
NTT Urban Development, a subsidiary of NTT, Inc., has been expanding internationally across residential, office and mixed-use projects. CLI, founded in 2003, said it has delivered more than 132 projects across 18 cities, spanning residential, office, hotel, mixed-use and township developments.
Business News Asia
