CLI reservation sales up 14% in first nine months

CEBU, Philippines —  Despite the economic uncertainty and difficulties brought about by the pandemic, Cebu Landmasters Inc. (CLI) recorded P10.5 billion reservation sales in the first nine months of 2020.

The P10.5 billion reservation sales is a 14 percent increase compared to the performance recorded in the same period last year, announced CLI Executive Vice President and chief operating officer Franco Soberano.

The publicly-listed company said the surprising growth amid crisis was due to the sustained demand for real estate products, particularly residential units.

“Demand for CLI housing has remained strong despite the pandemic. And, we attribute this to our focus in meeting the needs of our buyers in each of the fifteen key VisMin cities we serve in terms of product, service and pricing, and making use of our wide sales and construction networks throughout the region,” said Soberano.

CLI is on pace to surpass its 2019 sales performance in spite of the challenges brought about by the 2020 pandemic.

The listed company registered P3.1 billion reservation sales in the third quarter of 2020.

CLI homes from P1.5 million to P3 million that carry the popular economic brand Casa Mira accounted for 62 percent of the 9-month take-up. This was followed by the company’s mid-market Garden Series units at 24 percent.

Focused on economic and mid-range markets in the Visayas and Mindanao, CLI attributed 48 percent of sales to its projects in Cebu; 21 percent, to Iloilo; 13 percent, to Cagayan de Oro; 12 percent, to Bacolod.

In the first nine months of the year, the listed company launched five projects worth Php 5.5 billion ensuring sustained growth by also expanding to Iloilo and Bohol, which are new CLI locations. CLI’s Casa Mira developments have been exceeding sales targets.

CLI has sold 68 percent of Casa Mira Iloilo’s 1,188 units. Casa Mira Towers CDO and a new phase of Casa Mira South in Cebu sold out within weeks after their public offerings.

Velmiro Greens Bohol, launched early this year, is also 86 percent sold. Velmiro communities appeal to mid-market buyers and have house-and-lot units ranging from P3.1 to P4 million.

Even before the onset of the pandemic, CLI had been digitizing its sales platform to ensure strong connectivity to both buyers and agents. During the lockdown period, it launched its Buy-A-Home Microsite, providing sales partners quick access to new project inventories and promotions. The company responded more efficiently to buyer inquiries over social media through the CLI Facebook chatbot.

It also maintained strong ties with buyers through the CLI Masters Portal, an app through which homeowners can track their payment status, learn the latest promos, and be updated with CLI’s projects.

With an average price of P2.6 million per unit, Cebu Landmasters has sold 4,000 units to date, making it the largest residential developer in the Visayas and Mindanao. “We are always mindful of finding and serving the market segments where real estate demand is strongest. And our goal is to always remain close and fulfill the needs of our customers no matter the circumstance,” added Soberano.