Cebu Landmasters Inc. (CLI) has expanded its footprint in Davao, recently topping off a 263-room hotel and the 26-storey residential tower of the P3-billion The Paragon Davao, a joint venture with YHES Inc.
CLI chairman and CEO Jose Soberano III said the completion of The Paragon Davao comes as Southern Mindanao fully opens up to travel and as business and leisure activities resume.
“It will serve as a natural catalyst for economic growth in the area,” Soberano said.
The project, located in Matina along Davao City’s famous MacArthur Highway, is envisioned to be a lifestyle and convention destination.
With over 80,000 square meters in floor area, the Paragon Davao is rising proudly above Davao’s skyline as one of the largest mixed-use developments in the city.
Fred Yuson, president of YHES Inc., the joint venture between CLI and the Villa-Abrille clan, highlights that the hotel and residential tower will be complemented by a convention center and close to 8,000 sqm of food and retail area.
“The Paragon Davao will be a lively destination for locals as well as a destination or venue for meetings, incentives, conventions and exhibitions (MICE) that will draw business travelers from other parts of the country,” said Yuson.
One Paragon Place is the property’s residential tower with 554 units and is expected to start turnover in the fourth quarter of the year. It was named as the Best Condo Development in 2021 by PropertyGuru Philippine Property Awards.
Part of The Paragon Davao is an international hotel, Citadines Paragon Davao, which in turn, is set to open its doors in 2024 and will feature well-appointed hotel rooms and serviced residences. It is CLI’s fourth hotel in partnership with The Ascott Limited and is expected to help boost the listed company’s hotel revenues.
The 2.9-hectare The Paragon Davao will also include The Paragon Davao Convention Center with a grand ballroom that can accommodate up to 2,500 guests. It also has event and meeting rooms and pre-function areas.
The project will also include a lifestyle mall, which will feature a range of retail, food and beverage outlets. The Paragon Davao Lifestyle Mall will have 4,398 square meters of gross leasable area and will feature a range of retail, food and beverage outlets.
The mixed-used estate is masterplanned by CallisonRTKL in collaboration with top Philippine architectural firm RMDA.
Moving forward, Cebu Landmasters is expected to soon launch horizontal projects in Davao City.