CLI NUD Ventures, Inc., a joint venture between Cebu Landmasters Inc. (CLI) and Japan-based real estate firm NTT UD Asia Pte. Ltd. (NTTUDA) is looking to develop a P 6.4B two-tower, Japanese-inspired residential development in the heart of Cebu IT Park.
CLI said it recently signing its first international joint venture agreement with global (NTTUDA), which is a subsidiary to form CLI NUD Ventures, Inc.
Both parties held a ceremony to celebrate the establishment of this partnership at the listed company’s headquarters in Park Centrale Tower in Cebu IT Park.
“We are excited about this new venture, especially since this marks CLI’s first joint venture partnership with a well-renowned foreign business group. This is a testament that CLI is meeting international standards – especially Japanese, reflecting our hard work and commitment to the markets we serve,” CLI chairman and chief executive officer Jose Soberano III said.
For its pioneer project, CLI NUD Ventures, Inc. will offer 500 premium dwelling units, with the Tower 1 projected to be launched by last quarter of 2024.
NTTUD is a global real estate firm based in Japan and a subsidiary of the country’s leading telecom provider, NTT. NTTUD started its global business in the United Kingdom in 2009 and NTTUD has been proactively expanding its global business by working on mixed development, office and residential projects. T
Meanwhile, CLI has expanded exponentially by venturing into offices, hotels and resorts, mixed-use, retail and townships. In the past 20 years, it has evolved into a multi-billion-peso public company with more than 100 projects in various categories and different stages of development across 16 key cities across Visayas and Mindanao.