Cebu Landmasters Inc. (CLI) has announced its first international joint venture with NTT UD Asia Pte. Ltd. (NTTUDA), a subsidiary of Japan’s NTT Urban Development Corporation (NTTUD). This partnership, forming CLI NUD Ventures, Inc., will develop a Php 6.4 billion Japanese-inspired residential project in Cebu IT Park.
NTT Urban Development CEO Hiroshi Tsujigami and CLI Chairman and CEO Jose Soberano III celebrated the partnership at CLI’s headquarters in Cebu IT Park. Soberano expressed excitement about this collaboration, highlighting it as a testament to CLI’s adherence to international standards.
Tsujigami noted, “This partnership allows us to participate in our first project in the Philippines, combining our international expertise with CLI’s extensive local experience to enhance our offerings.”
The project will feature two residential towers with over 500 premium units, with Tower 1 launching in Q4 2024. This venture marks NTTUDA’s first project in the Philippines and CLI’s first international joint venture.
NTTUD, a global real estate firm and subsidiary of Japan’s leading telecom provider NTT, has been expanding internationally since 2009. CLI, founded in 2003, has grown into a multi-billion-peso public company with over 100 projects across 16 cities in the Visayas and Mindanao, and plans to expand to Luzon.
This joint venture between CLI and NTTUDA represents a significant milestone in CLI’s growth and its commitment to delivering high-quality, internationally recognized property developments in the Philippines.
