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Nov 17, 2017 @ 11:47

Cebu Landmasters, Ascott to build Citadines Hotel in Davao


A joint venture between Cebu Landmasters Inc. and two Davao-based property firms has tapped Ascott Ltd. for its mixed-use project, where a Citadines hotel will be located.

CLI said YHES (Yuson Huang Excellence Soberano) Inc. entered into a technical advisory and service management agreement with Ascott for Citadines Riverside Davao, an international service residence that offers short and long-stay guests with spacious apartments and personalised service.

Ascott is one of the leading international service residence owner-operators and has established presence in America, Asia Pacific, Europe, and the Middle East.

Apart from the hotel, the mixed-use project will feature a residential condominium, retail arcade and convention area. It is estimated to cost at least P3 billion.

Slated to be operational by 2021, the first phase will consist of a hotel with 250 units, 175 of which will be sold to the market, a residential condo bearing 400 units, a boutique retail and convention facility. The second phase will comprise four condominiums.

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