Manila: A total of 443 units of properties of listed firm Cebu Landmasters Inc. (CLI) have been given a go signal by the Securities and Exchange Commission (SEC) to be placed under rental pool agreements. SEC, in a press release on Thursday, said its Commission En Banc approved the registration statements of CLI Premier Hotel International, Inc. for 180 rental units, and the 263 units under YHES Premier Hotel Inc., subject to compliance with remaining requirements.

According to Philippines News Agency, CLI Premier is a subsidiary of CLI, while YHES Premier is a subsidiary of Yuson Huang Excellence Soberano, Inc., of which CLI has 50 percent ownership. Under the agreement, CLI Premier Hotel will offer 132 studio executive units, 47 one-bedroom units, and one two-bedroom service residential unit in its Citadines Cebu City project, which has been operational since September 2019.

While YHES Premier Hotel, with an offer of 180 studio units, 73 one-bedroom units, and 10 two-bedroom service residential units for its Citadines Paragon Davao project, is scheduled to start operations by the second half of 2026. 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, the property developers or owners will offer the units on a clause that the buyers will contribute the units to a rental pool managed and operated by the property owner or a third-party operator. The buyers, in turn, will be entitled to the profits of the property depending on the agreement, and are eligible to stay for 10 nights with breakfast for free annually.