Cebu Landmasters Inc. (CLI), a property developer focused on the Visayas-Mindanao market, said its reservation sales in 2022 rose 14 percent year-on-year to P18.8 billion.
The company said about three quarters of sales were from newly launched developments while the rest were from ongoing projects.
Since its initial public offering in 2017, cumulative reservation sales of the company have reached almost P80 billion.
Among the market segments, mid-market residential projects surged by 95 percent year-on-year to P8.83 billion and accounted for 47 percent of total reservation sales in 2022. CLI economic housing brand Casa Mira followed with 39 percent.
“Our numbers tell us that Cebu Landmasters made the most of the post-pandemic growth surge and we are very grateful. The new residential units that we launched were immediately absorbed by the market as shown by our record high sales velocity. Several of our new projects were sold out in a matter of days,” company executive vice president and COO Jose Franco Soberano said.
“We foresee an even more productive 2023 as we bring our residential brands to more and new areas in the VisMin region. We are also further expanding our portfolio by opening more hotels, launching more mixed-use and townships, and by introducing new product lines.”
The company launched close to 5,000 units in 16 projects worth P28.4 billion last year and were 74 percent sold by the end of the year. Sales velocity of these launches hit peak levels with most developments fully taken up within days, the company said.
The East Village in Davao Global Township sold out in four days; Calle 104 in Cebu City was all taken up in three days, while CLI’s entry to the Palawan market, Casa Mira Towers Palawan, was fully sold in less than a week.
For ongoing projects, 97 percent of the company’s completed projects have been taken up while projects under development and construction are 91 percent sold. Overall take-up rate of the company’s projects in all stages of development registered at 91 percent.
Cebu Landmasters is set to launch 17 residential projects as it continues to expand in new areas in the Visayas and Mindanao.
