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CLI eyes strong VisMin presence in economic and mid-market segments

Cebu Landmasters introduced phase 3 of the close to 12-hectare Casa Mira Linao in Talisay City, Cebu. Eight of the nine projects launched by CLI in 2020 are Casa Mira communities.

DESPITE the overall gloomy economic scenario brought about by the pandemic, Cebu Landmasters Inc. (CLI) remains bullish in 2021 with 25 projects in the pipeline with 15 focused on economic and mid-market residential segments in the Visayas-Mindanao (VisMin) region.

Jose Soberano III, president, chairman and CEO of CLI said these projects are collectively valued at P19 billion and reflects the company’s goal of making a strong presence in the two market segments. Moreover,  CLI allotted P12 billion for its capital expenditure for the year.

Cebu Landmasters continues to expand its footprint in the Visayas and Mindanao. This photo is an architect’s perspective of Casa Mira Homes Dumaguete, which was successfully launched last year among nine other projects despite the pandemic.

At the same time, Soberano is confident CLI will finish all ongoing residential and other projects totaling 33 including mixed-use developments, hotels and townships.

As of the first quarter of 2021, CLI posted a 25-percent year-on-year increase in net income attributable to CLI shareholders from P572 million to P714 million. A strong sales performance boosted consolidated net income to 12 percent.

Furthermore, CLI is targeting a 15-percent to 20-percent increase in revenues from the P8.3 billion in consolidated revenues it registered in 2020.  “Our 2021 projects will expand our VisMin footprint to cities like Ormoc, Bohol, Bacolod, Dumaguete, Iloilo and other key cities in the region while further strengthening our market share in Cebu and Cagayan de Oro where we have established a strong presence,” according to Soberano.

Even at the height of Covid-19, CLI maintained its lofty position in the Visayas-Mindanao maintained its work force and even increased its headcount to over 600 employees by the end of the year.

“2020 was a very challenging year. But we at CLI chose to look at opportunities and focus on the brighter side when we could,” Soberano pointed out.

Building the company’s digital infrastructure early on the pandemic proved to be an advantage as it enabled CLI to connect with its clients in the local and overseas enabling them to select units all the way to making reservation payments. Furthermore, the online platforms and flexible payment terms were largely responsible for the company’s record reservation sales of P14.25 billion in 2020.

Project planning likewise continued even during lockdown periods with CLI personnel in the key cities of VisMin followed up on the close to 30 permits and other requirements needed to launch a project.

Thus, CLI was able to launch three of the 25 projects in Q1 2021 with more in the pipeline.

“We have deep roots in VisMin. We are homegrown and make the most of this unique advantage and expertise,” said Soberano.

Meanwhile, CLI sees a lot of opportunities for growth in the VisMin area where the housing backlog has been estimated at 800,000 units a year. Industry studies estimate that only 200,000 units are produced annually.

“We truly look forward to a better year. We hope to see even stronger buyer confidence as the vaccines continue to rollout,” he said.

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