CEBU Landmasters Inc. (CLI) announced Monday, Feb. 3, 2020, it recorded reservation sales of P12.67 billion in 2019, a 31 percent increase from the P9.6 billion posted in 2018.
The full-year reservation sales surpassed the firm’s P12.5 billion target owing to the strong take- up of key projects mostly in its home base Cebu City which contributed 58 percent of the booked sales. Davao City accounted for 15 percent; Cagayan de Oro, 13 percent; Bacolod, 12 percent; and Dumaguete, two percent.
“Reservation sales is an indication of future revenue and with the robust sales performance of our projects, we are again anticipating outstanding financial results from CLI,” said CLI chairman and chief executive officer Jose Soberano III.
CLI exceeded market expectations particularly in Cebu City with Mivela Garden Residences, a mid-market residential condominium in the prime location of Banilad, which sold 80 percent of available inventory in less than a month. The strong take-up prodded the firm to launch its fourth and last tower ahead of schedule.
Warmly received
CLI’s Garden Series was also warmly received in the cities of Bacolod and Cagayan de Oro. The brand aimed towards the mid-market accounted for 37 percent of total sales. CLI’s high-end Premier Masters residential brand took a 30 percent share of the sales while the economic housing brand Casa Mira contributed 29 percent. Office condominiums and socialized housing accounted for the remaining balance.
CLI’s P18 billion project launches in 2019 were Davao Global Township—Phase 1, One Paragon Place and Citadines Paragon Davao in Davao City; Citadines Bacolod City, Casa Mira Bacolod, Velmiro Plains Bacolod and Building C of MesaVirre Garden Residences in Bacolod City; Casa Mira Towers CDO in Cagayan de Oro; Mivela Garden Residences, One Astra Place Tower 2, and Casa Mira Towers Mandaue; and Pinamalayan socialized housing in Mindoro.
2020 direction
In 2020, CLI will be drawing from its current landbank of 1,245,485 square meters to roll out more projects in new locations such as Iloilo, Bohol and Ormoc.
Soberano explains “CLI is also exploring new locations and tapping new markets as we eye land in areas such as Tacloban, General Santos, Roxas City, Boracay and even Palawan.”
CLI is building up to 200,000 square meters of gross leasable area and expanding its hospitality portfolio to more than 1,600 rooms in the next two to three years.
“CLI will continue to grow and fortify its presence in VisMin, deliver a diversified range of products aimed towards filling the needs in other major growth centers of the region, and keep our excellent financial performance,” Soberano said. (PR)