More than P18 billion worth of investments is being allotted by the Pueblo De Oro Development Corporation — the property development arm of the Luchangco-led ICCP Group — for more housing projects in key locations in the country, including Cagayan de Oro, Batangas and Cebu.
Pueblo de Oro Chairman Guillermo D. Luchangco presents the Masterson Mile North Towers project during the CDO Investment Forum at EDSA Shangri-La last October.
Pueblo De Oro said the investments were decided as they strategically positioned themselves to capitalize on the ongoing resurgence of the real estate market.
“As these regions undergo economic revitalization and grapple with the persistent housing backlog, Pueblo de Oro anticipates a surge in demand for both residential and commercial properties. The company’s foresight aligns with its dedication to meeting the evolving needs of the market,” the company said in a statement.
Pueblo de Oro revealed plans to spend about P13.5 billion in new projects in Cagayan de Oro, including the Masterson Mile North Towers, the city’s premier high-rise condominium project during the Cagayan de Oro Investment Forum held at the EDSA Shangri-La in Mandaluyong last October.
Pueblo de Oro Chairman Guillermo D. Luchangco presents the Masterson Mile North Towers project during the CDO Investment Forum at EDSA Shangri-La last October. (Oro-TIPC)
Renowned international architects Gensler and Associates from Singapore and Casas+Architects will bring their expertise into shaping the iconic Masterson Mile Towers.
Composed of five buildings spanning 22 to 27 floors, the development marks a significant milestone for Cagayan de Oro’s real estate landscape.
In a meeting with the Oro Chamber some two years ago, Guillermo D. Luchangco, Chairman and Chief Executive Officer of Pueblo de Oro Development Corporation (PDO), shared his vision for making Uptown Cagayan de Oro the city’s new Makati.
“Many of you will recall that in the 1950s, Makati was just a barren field, with the old Nielson tower which previously served as an airport terminal, one small apartment building along Ayala Avenue, then Rizal Theater and a supermarket. But look at it now! Rizal Theater has been transformed into the Shangri-la Hotel, Ayala Avenue is full of high-rise buildings, and land in the area is worth around P1 million per square meter!” he noted.
Southridge Development Project
“Now look at Cagayan de Oro’s uptown area and Masterson Avenue. When I first visited here, it was a barren field. Today, it is a booming location, with SM Mall on its north side, and the new Gaisano Mall on its southern rim. SM will be developing a five-hectare condo area close to its mall, as well as expanding the mall itself. Cebu Landmasters and Portofino are also in the uptown locale. And Pueblo de Oro township sits in the middle of all this!”
In addition to the Masterson Mile North Towers, PDO also disclosed plans to break ground for a 31-hectare Southridge Development at the crossroads of the new Laguindingan- Pueblo de Oro Diversion Road. Dubbed Southridge, the new development would emulate the vitality of California’s Silicon Valley in the San Francisco Bay area.
In the near future, Luchangco said Pueblo de Oro Township would not be merely building more of the same types of structures.
“Just like when I started our project years ago, and told a group of prominent Kagay-anons that I would give their city a township that they could be proud of, even if they traveled to the cities of Europe, Pueblo will now go beyond the current types of developments you see dotted around the city and build bigger, better and/or more state of the art projects!” he disclosed.
Besides further raising the city’s profile a cut above the rest of the present level of its property developments, and increasing its footprint as a unique destination point, Luchangco foresees how this would result in greater economic benefit to the city and increase revenues for the local government.
During the latest Philippines Cities and Municipalities Competitiveness Index, Cagayan de Oro City ranked as the 7th Overall Most Competitive Highly Urbanized City in 2023, improving one rank higher than the previous year. The city was 2nd in Resiliency, 5th in Innovation, 7th in Government Efficiency, 7th Most Improved Highly Urbanized City and 8th in Infrastructure.
By 2025, Metro Cagayan de Oro is expected to become the Philippines fourth metropolitan center based on projected population growth and role as a major gateway and transshipment hub in the region.
Beyond Cagayan de Oro, Pueblo de Oro is expanding its footprint in Batangas, strategically positioning itself 90 kilometers south of Metro Manila.
In the province of Cebu, Pueblo de Oro is committing P1.2 billion to PDO Townhomes Carcar, an economic housing community slated for launch in October 2024. The townhouse project will be part of a planned integrated township development.
Following the success of Pueblo de Oro Townscapes Malvar township, the company ventures into two new projects in Lipa City and Batangas City, with estimated project costs of P1.8 billion and P1.7 billion, respectively.
Both Pueblo de Oro Courtyards Lipa and Pueblo de Oro Westwoods Heights Batangas City target the middle-income market, offering single detached and single attached houses.