A total of 443 property units of listed firm Cebu Landmasters Inc. (CLI) have been cleared by the Securities and Exchange Commission (SEC) to be placed under rental pool agreements.
In a press release on Thursday, the SEC said its Commission En Banc approved the registration statements of CLI Premier Hotel International, Inc. covering 180 rental units, as well as 263 units under YHES Premier Hotel Inc., subject to compliance with remaining requirements.
CLI Premier is a subsidiary of CLI, while YHES Premier is a subsidiary of Yuson Huang Excellence Soberano, Inc., in which CLI holds a 50-percent ownership stake.
Under the agreement, CLI Premier Hotel will offer 132 studio executive units, 47 one-bedroom units, and one two-bedroom serviced residential unit at its Citadines Cebu City project, which has been operational since September 2019.
Meanwhile, YHES Premier Hotel will offer 180 studio units, 73 one-bedroom units, and 10 two-bedroom serviced residential units for its Citadines Paragon Davao project, which is scheduled to begin operations in the second half of 2026.
The SEC said the agreements “were registered through the streamlined process for Securing and Expanding Capital in Real Estate Non-Traditional Securities (SEC RENT), under SEC Memorandum Circular No. 12, Series of 2024.”
Under these agreements, property developers or owners will offer the units under a clause requiring buyers to contribute them to a rental pool managed and operated by the property owner or a third-party operator.
Buyers, in turn, will be entitled to a share of the property’s profits based on the agreement and will be eligible to stay up to 10 nights annually with complimentary breakfast.
CLI WEBSITE PHOTO