CLI reservation sales up 86% to P8.54B in 2018
Credit to Author: ANGELICA BALLESTEROS, TMT| Date: Mon, 14 Jan 2019 16:15:37 +0000
CEBU Landmasters, Inc. (CLI) said on Monday it generated P8.54 billion in reservation sales for full-year 2018, exceeding the P4.58 billion it registered in 2017 by 86 percent.
In a regulatory filing, the Cebu province-based real-estate developer said the latest amount also surpassed its P7-billion target for 2018 by 22 percent.
The sales were driven by new launches under Cebu Landmasters’ brands Baseline Prestige, One Astra Place and Casa Mira Towers in Cebu; and MesaVirre Garden Residences in Bacolod City, Negros Occidental province.
Fifty-seven percent of total sales were attributed to Cebu projects, while developments in the cities of Cagayan de Oro in Misamis Oriental province, Bacolod, and Dumaguete in Negros Oriental province accounted for 16 percent, 15 percent and 11 percent, respectively.
“The year 2018 was a year of expansion to other key areas of [the] Visayas and Mindanao, fortifying CLI’s leadership in [the] property development of the region,” Cebu Landmasters President and Chief Executive Officer Jose Soberano 3rd said in the filing.
According to the listed company, 36 percent of its sales came from its high-end brand Premier series, while the mid-market Garden series and Casa Mira accounted for 34 percent and 30 percent, respectively.
“We will continue bringing our developments to even more Filipinos in [the] Visayas and Mindanao,” Soberano said, adding that his firm would focus on projects in Iloilo and Bohol provinces, as well as the cities of Ormoc in Leyte province, General Santos City and Davao, this year.
He also said Cebu Landmasters would also diversify its portfolio by expanding to hotels and township projects.
Incorporated and registered with the Securities and Exchange Commission on Sept. 26, 2003, Cebu Landmasters caters to the high-end, mid-market, economic and socialized housing segments of the market.
It has more than a dozen completed developments, including San Jose Maria Village, Villa Casita, Midori Plains, Asia Premier Residences, Base Line Residences, and Park Centrale Tower.
Shares of Cebu Landmasters shed 7 centavos or 1.62 percent to close at P4.26 each on Monday.
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