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LOOK: Cebu Landmasters' 'iconic' luxury tower to house Sofitel Cebu City

Even as the coronavirus pandemic batters the tourism industry, property developer Cebu Landmasters is moving ahead with constructing a P4-billion tower in Cebu City which will boast the first 5-star hotel there.

Masters Tower Cebu, set to be completed in 2025, will offer prime office space and retail space, as well as Sofitel Cebu City.

The tower will rise on a 2,840-square-meter property at the Cebu Business Park.

Image from Cebu Landmasters

Designed by Skidmore, Owings & Merrill and GF & Partners Architects, the 172-meter tower will feature a crown-like structure to reflect Cebu's nickname of the "Queen City of the South."

The 14th to 32nd floors will house the luxury hotel with 195 guest rooms, a grand ballroom, 2 restaurants, and other amenities found in a 5-star hotel.

Sofitel Cebu City will be operated by French multinational hotel chain Accor.

Image from Cebu Landmasters

"We are optimistic that the hospitality industry will bounce back particularly in the Visayas and Mindanao where there is high potential for more international hotel players and tourism demands for quality hospitality experiences," said Jose Soberano III, Cebu Landmasters chief executive officer.

Groundbreaking of Masters Tower Cebu is slated for the 2nd quarter of 2021.

Shares of Cebu Landmasters closed higher by 2.5% on Friday, February 19. (READ: How a family business became Cebu's top local developer) – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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