Cebu Landmasters posts record H1 sales

MANILA, Philippines — Cebu Landmasters Inc. (CLI), a property firm focused on the Visayas and Mindanao region, posted a record-high reservation sales growth of 61 percent in the first half  to P4.6 billion.

CLI chief executive officer Jose Soberano III said strong demand for projects boosted the company’s reservation sales, which already account for 65 percent of CLI’s P7 billion target  for the year.

 “Our VisMin expansion is on the right track. With our fast turnaround strategy at work across VisMin, we are able to generate more inventory and move very efficiently from acquisition to sales and construction. This has allowed us to grow our reservation sales very strongly,” he said.

The company’s Casa Mira South in Cebu, its  economic brand that sells units for up to P1.6 million each, contributed 11.2 percent to the total first half reservation sales.

The company’s MesaVirre Garden Residences, CLI’s first project in Bacolod that sold out within a month after launch and Baseline Center, a premier mixed-use development located at the heart of Cebu City, which is already 80 percent sold, also contributed to the strong growth.

Another project is 38 Park Avenue, a premier residential project at Cebu IT Park, which is now also 80 percent sold.

The company will be launching new projects in Cebu, Davao, Cagayan de Oro, Iloilo, Bacolod and Bohol.

The second phase of MesaVirre Garden Residences is underway to cater to a growing number of interested buyers who were not able to purchase Phase 1. MesaVirre Bacolod was launched early this year, along with Casa Mira Coast in Sibulan, Negros Oriental. It is also preparing to launch it’s newest mixed-use project, Astra Centre in Mandaue City, the company said.  

Aside from residential projects, CLI also launched two hotels this year, namely Radisson Red in Astra Centre in Mandaue City and Citadines Bacolod, a serviced residence in partnership with The Ascott Ltd. that complements its MesaVirre Garden Residences.

CLI now has a portfolio of 969 hotel rooms from its five projects.

These are the 180-room Citadines Cebu City, which is targeted for completion this year; the 263-room Citadines Paragon Davao set to open by 2021; lyf Cebu City, a 180-room hotel that will be operational in 2022; Radisson Red in AS Fortuna in Mandaue City, Cebu with 146 rooms; and Citadines Bacolod, which will have 200 rooms.