CLI posts P14.2-B reservation sales; eyes 15 residential projects

CLI posts P14.2-B reservation sales; eyes 15 residential projects

MANILA – Cebu Landmasters, Inc. (CLI), a leading developer in Visayas and Mindanao, disclosed record reservation sales of PHP14.25 billion in 2020, a 12.4-percent growth from the previous year’s PHP12.67 billion, amid the coronavirus.

The figure represents 5,300 units sold across key cities in the region.

“Despite the many challenges posed by the pandemic in 2020, our sales figures indicate strong revenue streams ahead and an upward growth trajectory. We found many opportunities amidst the crisis that contributed to our performance,” CLI executive vice-president and chief operating officer Franco Soberano said in a statement Tuesday.

Soberano foresees even greater opportunities in 2021 as the global and local economies recover and consumer confidence is further bolstered by a low-interest rate environment favoring Filipino home buyers.

“Covid-19 (coronavirus disease 2019) realigned spending priorities and stressed the importance of homeownership as a means of securing the future,” he said.

In 2021, Cebu Landmasters intends to push its growth momentum with a supply pipeline of 8,000 units in 15 residential projects valued at PHP17 billion. These units will be located in Cebu, Ormoc, Bacolod, Iloilo, Cagayan de Oro, and Davao.

CLI will use properties in its current landbank for 15 new projects this year. Plans have already been drawn up for those developments.

“We will launch the projects as soon as external factors allow and hope to further contribute to the shared goal of economic recovery,” Soberano said.

Contrary to industry trends, CLI showed positive performance amidst nationwide lockdown with 69 percent of the company’s 2020 sales attributed to its economic brand Casa Mira; 19 percent to its mid-market Garden Series; and 10 percent to high-end Premier Masters.

In 2020, CLI launched nine new projects worth PHP11.4 billion accounting for 4,300 units in fresh inventory.

As the pandemic took its toll, demand for CLI homes heightened which led to wipe out existing inventory. This prompted the firm to intently pursue by midyear the rollout of new projects in Bohol, Iloilo, Dumaguete and Davao. By year-end, 70.6 percent of the company’s new inventory had been sold.

In terms of geographic reach, CLI strengthened its presence outside of its home base, Cebu.

As of the end of December, 54 percent of sales came from other VisMin capitals, namely: Iloilo, 17 percent; Davao, 13 percent; Cagayan de Oro and Bacolod, 10 percent, respectively; Dumaguete and Bohol, 6 percent. Cebu took 46 percent. (PNA)

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