CEBU Landmasters Inc. (CLI) reported a record-high 61 percent reservation sales growth of P4.6 billion in the first half of 2018 due to strong demand for its projects.
The figure is 65 percent of the company’s target of P7 billion for the entire year and already surpasses its full-year 2017 reservations sales performance.
“Our VisMin expansion is on the right track. With our fast turnaround strategy at work across VisMin, we are able to generate more inventory and move very efficiently from acquisition to sales and construction. This has allowed us to grow our reservation sales very strongly,” said CLI chief executive officer Jose Soberano III.
Casa Mira South in Cebu, CLI’s economic brand that sells units for up to P1.6 million each, contributed 11.2 percent to the total first-half reservation sales.
Other developments that boosted sales were MesaVirre Garden Residences, CLI’s first project in Bacolod that sold out within a month after launch; Baseline Center, a premier mixed-use development located in the heart of Cebu City, is 80 percent sold; and 38 Park Avenue, a premier residential project in Cebu IT Park, is also now 80 percent sold.
Soberano said CLI will launch “fresh inventory” in the coming weeks to support its sales goal. These new projects will be located in Cebu, Davao, Cagayan de Oro, Iloilo, Bacolod and Bohol.
The developer said the second phase of MesaVirre Garden Residences is underway to cater to a growing number of interested buyers who were not able to purchase Phase 1.
MesaVirre Bacolod was launched early this year, along with Casa Mira Coast in Sibulan, Negros Oriental. It is also preparing to launch its newest mixed-use project, Astra Centre in Mandaue City.
CLI also launched two hotels this year: Radisson Red in Astra Centre in Mandaue City and Citadines Bacolod, a serviced residence in partnership with The Ascott Limited that complements its MesaVirre Garden Residences. (PR)