CLI-MAC joint venture to develop P1-B Cebu condo

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LISTED Visayas-Mindanao property developer Cebu Landmasters Inc. (CLI) plans to develop a 24-story residential condominium in Cebu City as part of its new joint venture (JV) agreement with Martinez Agricultural Corp. (MAC).

CLI told the stock exchange last week that the JV with MAC plans to develop a mixed-use development in midtown Cebu, with CLI taking the controlling stake of 60 percent and MAC the remaining 40 percent.

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