Cebu Landmasters: 14% reservation sales growth

As of the third quarter of the year 2020, CEBU LANDMASTERS, Inc. (CLI) has reported a double-digit growth in reservation sales despite the Covid pandemic economic slowdown,

The Cebu-based property developer has recorded P10.5-billion reservation sales from January to September, up 14% from the same period last year.

With P3.1 billion sales in the third quarter of 2020, CLI have just outdone its overall sales performance in 2019 which was at P12.67 billion reservation sales.

Jose Franco B. Soberano, CLI vice-president and chief operating officer said, “Demand for CLI housing has remained strong despite the pandemic. And we attribute this to our focus in meeting the needs of our buyers in each of the fifteen key VisMin cities we serve in terms of product, service and pricing, and making use of our wide sales and construction networks throughout the region.”

Casa Mira, CLI’s economic housing brand, accounts for 62% reservation sales of the take-up during the nine months. Some 24% came from CLI’s mid-market brand Garden Series.

Cebu Landmasters’ Inc. focuses mainly in Visayas and Mindanao and with sales of 48% coming from in Cebu, 21% in Iloilo, 13% in Cagayan de Oro and 12% in Bacolod.

“We are always mindful of finding and serving the market segments where real estate demand is strongest. And our goal is to always remain close and fulfill the needs of our customers no matter the circumstance,” Mr. Soberano shared.

With five launched projects this year with a combined value of P5.5 billion, CLI continues to expand to other ares like Iloilo and Bohol.

The company is targeting to launch P19.4-billion worth of projects this year, equivalent to 14 new projects by yearend, to boost its inventory that has been down to about P10 billion as of June.Shares in the company at the stock exchange closed flat at P4.62 apiece on Thursday

This article was first published at bworldonline.com.