CLI’s reservation sales up 16% in 2021 to P16.5B

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PROPERTY developer Cebu Landmasters Inc. (CLI) has announced a “record-breaking” reservation sale of P16.5 billion for 2021, up 16 percent from P14.25 billion in 2020.

The listed firm said it launched 3,865 units in 10 projects worth P18 billion, more than the eight projects launched in 2020 worth P11.5 billion.

CLI chairman and chief executive officer Jose Soberano III told the local bourse Thursday, January 13, 2022, that the company has rapidly expanded since its listing in June 2017 and has now more than doubled its P7.7 billion sales takeup during that year.

By yearend 2021, the company’s completed projects were 96 percent sold while developments still under construction were 86 percent taken up. Even newly launched projects moved briskly and were 70 percent sold.

Altogether, CLI’s portfolio is 85 percent sold across different project stages.

The company said its new project Costa Mira Beachtown Mactan, which offers 659 units valued at P3 billion, accounted for 17 percent of overall sales and was already 92 percent sold just a month after its market debut.

In terms of market category, CLI’s economic housing brand Casa Mira accounted for 41 percent followed by the high-end Premier Masters at 31 percent and the mid-market Garden Series at 27 percent.

“CLI launched more economic housing projects as affordable quality housing was in demand throughout the pandemic,” said Soberano. “We started to unveil higher-end projects when the economy began to open and recover.”

Cebu projects take up the majority of CLI’s sales, accounting for 48 percent, followed by Iloilo at 17 percent and Cagayan de Oro City at 13 percent. The rest comes from Davao, Ormoc, Bacolod and Bohol.

CLI commits to be at the forefront in meeting the housing demand in the Visayas and Mindanao (VisMin).

It said it has fresh inventory to be released this year to optimize CLI’s current landbank of 100 hectares valued at P12 billion. In addition to the 40 hectares acquired in 2021, more properties are under negotiation, the company said.

In the aftermath of Typhoon Odette (Rai), which struck some parts of the Visayas and Mindanao, the company offered P30 million worth of free roof repair for homes in CLI communities whose roofs were damaged by the strong category 5 winds.

It also collaborated with local government units to provide food, drinking water and other relief goods to the larger communities that host its projects.

“We are a VisMin firm. Thus, we are committed to assist Cebu and surrounding provinces get back on track. We are confident that, as in the past, our concerted efforts will pave the way for recovery,” said Soberano.

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