Listed property developer Cebu Landmasters Inc (CLI) is banking on the growth of Bacolod City’s tourism and business process outsourcing (BPO) industries for the success of its new serviced residences development in the city. CLI recently signed a management deal with The Ascott Limited to develop the first hotel in Bacolod City carrying an international brand. Citadines Bacolod, a 200-room serviced residence, will start construction before the last quarter of this year with a target opening scheduled for 2021. It will be CLI’s fourth project with the world’s leading serviced residences operator, and is expected to boost the Cebu-based developer’s hotel portfolio to a total of 969 rooms. With growth in BPO and other commercial sectors forecast, CLI president Jose Soberano III also noted that the property will be able cater to the developing meetings, incentives, conventions, and events (MICE) market in Bacolod. He said the company expects the property to be the leading provider of accommodation in the area when it opens.
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