Listed developer Cebu Landmasters, Inc. (CLI) on Thursday, Jan. 13, 2022, said it made reservation sales of P16.5 billion for 2021, 16% more than the P14.25 billion in 2020.
In a statement, the company said it launched 10 projects worth P18 billion, more than the eight projects launched in 2020 worth P11.5 billion.
The 10 new projects consist initially of 3,865 housing units.
Among its new projects is the P3 billion Costa Mira Beachtown Mactan, an integrated beachfront condominium community with 659 units.
This project accounted for 17% of overall sales and was 92% sold in just a month after its market debut, according to CLI chairman and chief executive officer Jose R. Soberano III.
Casa Mira, CLI’s economic housing brand, contributed 41% of the sales, followed by the high-end Premier Masters at 31%, and the mid-market Garden Series at 27%.
“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.
Projects in Cebu accounted for 48% while those in Iloilo contributed 17% and Cagayan de Oro, 13%. The balance came from projects in Davao, Ormoc, Bacolod and Bohol.
As of end-2021, CLI’s completed projects were 96% sold while those under construction were 86% sold.
The company said it acquired properties with a total area of 40 hectares in 2021. Negotiations are ongoing for the acquisition of more properties.
CLI has a current landbank of 100 has. valued at P12 billion. (MTVI/Ventures Cebu)