CEBU Landmasters Inc. (CLI) recorded P8.54 billion in reservation sales in 2018, breaking the P7-billion target set for the year by 22 percent. The year-end reservation tally has exceeded the previous year’s P4.58 billion by 86 percent.
In a disclosure to the Philippine Stock Exchange, the company said the reported amount is net of the joint-venture partners’ share. Accounting for the full sales, value is expected to reach a record P9.76 billion.
Jose Soberano III, president and chief executive officer, said, “The year 2018 was a year of expansion to other key areas of VisMin, fortifying CLI’s leadership in property development of the region.”
CLI reported that 57 percent of the booked sales came from various Cebu projects. Projects in other Visayas and Mindanao cities such as Cagayan de Oro contributed 16 percent, while the Bacolod and Dumaguete properties accounted for 15 percent and 11 percent, respectively.
Soberano said the sales were driven by the company’s new launches: Baseline Prestige, One Astra Place and Casa Mira Towers, in Cebu, and MesaVirre Garden Residences in Bacolod.
CLI also reported that 36 percent of its sales this year was from its high-end Premier series. The mid-market Garden series and economic brand Casa Mira accounted for 34 percent and 30 percent, respectively. (PR)