CEBU

CLI accounts for 12% of over 80K inventory in VisMin

LISTED firm Cebu Landmasters Inc. (CLI) has been named the leading residential developer in the Visayas and Mindanao (VisMin) in 2020 in terms of building condominium and subdivision projects.

A market study of Santos Knight Frank (SKF) disclosed that CLI accounted for 18,683 units or 12 percent of the available 86,126 units in the VisMin, pulling ahead of developers operating nationwide based on third quarter 2020 data.

Its closest rivals were Sta. Lucia Realty and Development and Camella Homes, at 11,897 units and 11,768 units, respectively.

The SKF study also revealed that the most saleable VisMin projects were by CLI which exhibited an absorption rate of 83 percent and sales takeup of 210 units a month, the company told the local bourse Monday, Feb. 8, 2021.

CLI recently announced record reservation sales of P14.25 billion in 2020, accounting for 5,300 units sold across key cities in the region despite the coronavirus pandemic conditions.

“The high sales velocity of our projects even at the height of the lockdowns in key cities verifies a deeply felt need, especially among the VisMin economic and mid-income earners, to own their own homes. We intend to continue fulfilling this need in 2021 with 8,000 more units in 15 residential projects in Cebu, Ormoc, Bacolod, Iloilo, Cagayan de Oro and Davao,” said Franco Soberano, executive vice president and chief operating officer of CLI.

A market study by Leechiu Property Consultants said the VisMin housing backlog would be at 2.85 million houses by 2022 with an average annual demand of 475,000 new housing units.

Of this number, 200,000 middle and economic housing units are needed per year. But, the study said, only a handful of the current top 10 VisMin developers in 2020 are likely to maximize opportunities provided by the mid- and economic income segment in 2021 and beyond. A number of these developers extended project completion and turnover dates due to the coronavirus pandemic.

CLI launched nine new projects in 2020 alone with 4,300 units in Bohol, Iloilo, Dumaguete and Davao.

Last year, the group also boosted its digital capabilities to satisfy intensifying buyer inquiries. It digitized end-to-end transactions through various channels which showcase all of the company’s developments throughout the VisMin. A buyer can now select an available property in any of the 15 CLI cities in the region, check on construction progress, get real-time response to queries, and join events, among many others — all online. (KOC)


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