Developer Cebu Landmasters, Inc. (CLI) said its reservation sales from January to September 2021 increased by 13% year-on-year to P11.8 billion despite the coronavirus disease (COVID-19) pandemic.
Seven projects were launched during the period and most of these are 90% to 100% sold out, the company said in a statement Monday, Oct. 11, 2021.
Its economic brand Casa Mira accounted for 50% of the sales, followed by the mid-market Garden Series with 33%, and the high-end Premier Masters with 17%.
“We see our sales momentum further picking up speed in the fourth quarter as we launch more residential projects in VisMin for our buyers who are predominantly end-users. Thus, it is foreseen that the company will exceed its sales target for the year,” said CEO Jose Soberano III.
“Demand for mid and economic homes in VisMin continues to be strong despite the extended economic effects of the pandemic and we are optimistic take-up will further improve as recovery takes place,” he added.
Aside from its residential and commercial projects, CLI is also embarking on three major township developments, namely, the Davao Global Township in Davao City, the proposed MingMori Techno Business Park in Minglanilla in Cebu, and the Manresa Town in Cagayan de Oro City.
Land development of the 22-hectare Davao Global Township is almost complete.
Reclamation of 100 hectares of foreshore land in Minglanilla, to be undertaken by subsidiary MingMori Development Corp., will begin in the first quarter of 2022. The bidding and awarding of contracts to suppliers is scheduled in the last quarter of 2021.
CLI will also develop a 14.4 hectare university township to be called Manresa Town in Cagayan de Oro City and the adjoining Xavier University Masterson Campus, which has been named the campus of the future. (Ventures Cebu)