By Maya Padillo and Lovely Carillo
Cebu Landmasters (CLI) signed last Friday a Service Management Agreement with The Ascott Limited for Citadines Riverside Davao which will soon be constructed along Matina.
CLI also signed on the same day a new joint venture agreement with Yuson Huang Excellence Soberano, Inc (YHES) for their upcoming mixed-use project in the city.
Citadines Riverside Davao is an international service residence that will provide spacious apart-ments and personalized services for short and long-term staying guests through an Ascott Host. The host will be the guests’ personal concierge while staying in the property.
The Ascott Limited is the world’s largest inter-national serviced residence and has been around 32 years. It has 69,000 apartment units in over 500 properties globally in 125 cities.
“We are very happy to partner with CLI in its second Citadines and The Ascott Limited’s first in Davao,” said Arthur Gindap, Ascott Limited Regional General Manager for Philippines and Thailand.
CLI Chair and CEO Jose Soberano III said they are committed to bringing a modern and comfortable city lifestyle to the city.
CLI and its partner Yuson Commercial Investments, Inc. recently held the groundbreaking ceremony of MesaTierra Garden Residences along Jacinto Extension, its first project in the city. Both companies formed a joint venture known as Yuson Excellence, Inc. (YES) for the project.
While MesaTierra Garden Residences is a 22-story condominium with a total of 694 units and 259 parking spots, the latest development between the CLI and YHES will include residential, condotel, retail, commercial center and convention facilities.
Gindap told media on Friday that signing starts entry not only in Davao but in Mindanao region as well.
“In a nutshell we offer spacious apartments com-plete with the convenience of our homes. We are your home away from home for extended stay guests,” Gindap said.
Gindap said their growth in Visayas and Mindanao has been already mapped out. He said the company has set its sight in opening properties in Davao City. He said the company would like to be in key cities in Mindanao.
“Because we know that today Mindanao is a prime area for business with a growing number of local investors and tourists,” he said.
The Ascott Limited condotel in Citadines will house roughly around 250 units wherein 125 units will be available for investors to buy that will be managed by the hotel.
Gindap said Ascott will cater to the younger, traveler and probably one that has a small family and corporate oriented market.
“The Ascott Limited caters to young professio-nals that have hectic schedules who wanted hassle free lifestyle. The way the company runs the business is they offer lower capital and operating cost because of our efficiency in designs and the services a little more limited than the hotel because the guests stay longer,” he said.
Gindap is optimistic that they will have such market in Davao.
The signing, which also marks Ascott’s second partnership with CLI, was held during the joint venture (JV) signing of the YHES (Yuson Huang Excellence Soberano) Inc partners for their third project Citadines Riverside Davao that will soon rise in a 1.9-hectare property owned by Yuson and Huang along McArthur Highway.
Eyed to become one of Davao’s biggest landmark, Citadines will be composed of a four-tower residential, a condotel, a retail, a commercial and convention facilities.
For the project compo-nents, Soberano said the project will be implemented by phases: Phase 1 will be the construction of the hotel, retail, and the convention facility and the second phase will be the rest of the four residential condo-minium buildings.
“Spread around the condominium buildings are the retail component,” he said.
The first building of the residential building will house 400 units and the condotel (hotel) will have 250 rooms wherein 125 will be open to investors.
Citadines Riverside Davao is targeted to open by 2020.