PROPERTY developer Cebu Landmasters Inc. (CLI) disclosed a 14 percent hike in reservation sales year on-year to P18.8 billion driven by a robust VisMin market.

A high 73 percent of sales were from newly launched developments with the rest coming from persistent demand for ongoing projects.

Since its initial public offering year in 2017, cumulative reservation sales of the company have reached almost P80 billion.

Among the market segments, mid-market residential projects surged by 95 percent year-on-year to P8.83 billion and accounted for 47 percent of total reservation sales in 2022.

CLI economic housing brand Casa Mira followed with 39 percent.

The listed company launched close to 5,000 units in 16 projects worth P28.4 billion in 2022 and were 74 percent sold by the end of the year. (PR)