Any difference buying a CLOA certicated land?

A property ad tells this:
"- The land is still with Certificate of Land Ownership Award (CLOA) granted by the Department of Agrarian Reform. Still for application of Land Title. "

I wonder if such land can be used for a developing project I have in mind.
Is it easier/harder/impossible to buy and get title for a company (with foreigner as minority owner) when it's land with CLOA certificate?
If so - what's the difference concerning geting title, when it's CLOA, compared to the common just tax paper situation?
Roughly estimated time to get title? (The developing in question can't start before all documents are ready.)

(The land will be used to develop a FARMING project, so it's still useful for the Department of Agrarian Reform, I asume, although it's an uncommon type of project.
Some of the profit will be used to Help-to-self-help work/business projects for poor Filipins, but this make no difference concerning this law question, because it isn't in the rules for the company, it's only a minority owner wanting to be nice to nice people