CLI reservation sales rise on robust housing demand

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Regional property developer Cebu Landmasters Inc. (CLI) said it recorded reservation sales of P16.5 billion last year, 16 percent higher than the previous year’s P14.25 billion.

The company said it had sustained demand for housing in its geographic scope by launching 3,865 units in 10 projects worth P18 billion, more than the eight projects launched in 2020 worth P11.5 billion.

CLI Chairman and CEO Jose Soberano III said the company has expanded its projects since its listing in June 2017 and has now more than doubled its P7.7-billion sales that year.

“CLI launched more economic housing projects as affordable quality housing was in demand throughout the pandemic. We started to unveil higher-end projects when the economy began to open and recover,” Soberano said.  By year-end 2021, the company’s completed projects were 96 percent sold-out while developments still under construction were 86 percent taken up.

Newly launched projects were immediately sold out 70 percent. Altogether, CLI’s portfolio is 85 percent sold out across different project stages.

CLI’s new offerings include beachfront condominium communities highlighting resort living. The first in a projected series is Costa Mira Beachtown Mactan offering 659 units valued at P3 billion.

The integrated beachfront community accounted for 17 percent of overall sales and was already 92 percent sold just a month after its market debut.

In terms of market category, CLI’s economic housing brand Casa Mira accounted for 41 percent; followed by the high-end Premier Masters at 31 percent; and the mid-market Garden Series at 27 percent.

Majority of the sales take up still comes from projects in Cebu accounting for 48 percent; followed by Iloilo, 17 percent; and Cagayan de Oro, 13 percent. The rest comes from Davao, Ormoc, Bacolod and Bohol.

The company said it is ready to meet the sustained housing demand in the Visayas and Mindanao with fresh inventory to be released in 2022 to optimize CLI’s current landbank of 100 hectares valued at P12 billion.

Last year, it added some 40 hectares in its landbank and more properties are under negotiation.

Following the aftermath of Typhoon Odette, CLI is focused on assisting its stakeholders: employees, homeowners and communities in Cebu and the Visayas and Mindanao where it operates.

The firm offered emergency loans and free supplies for its employees; provided temporary coverings and secured power and water supply for its homeowners while clearing the roads in its properties; and offered P30 million worth of free roof repair for homes in CLI communities whose roofs were damaged by the strong category five winds.