CEBU Landmasters Inc. (CLI), which focuses on the Visayas and Mindanao areas, ended last year with record-high reservation sales.

In a disclosure on Thursday, the listed property firm said its reservation sales climbed 16 percent to P16.5 billion last year from P14.25 billion year on year.

CLI launched 10 projects worth P18 billion in 2021, higher than the eight projects worth P11.5 billion it introduced in the previous year.

The company’s economic housing brand, Casa Mira, accounted for the majority of sales at 41 percent, while its high-end Premier Masters contributed 31 percent and its mid-market Garden Series at 27 percent.

“CLI launched more economic housing projects as affordable quality housing was in demand throughout the pandemic,” Jose Soberano 3rd, CLI chairman and chief executive officer, explained.

Cebu remained as CLI’s top market as it accounted for 48 percent of the sales, followed by Iloilo at 17 percent and Cagayan de Oro at 13 percent.

The rest of the demand came from Davao, Ormoc, Bacolod and Bohol.

Meanwhile, CLI noted that its portfolio is 85-percent sold out across different project stages as of end-2021.

“The company is at the forefront to meet the sustained housing demand in VisMin (Visayas and Mindanao) with fresh inventory to be released in 2022 to optimize CLI’s current landbank,” CLI said.

The company’s present landbank of 100 hectares is valued at P12 billion.

CLI posted a 23 percent higher parent net income of P1.85 billion in the first nine months of last year from P1.5 billion in the same period in 2020.

Published in The Manila Times