November 23, 2017 | MANILA, PHILIPPINES

Cebu Landmasters says H1 reservation sales close to entire 2016 level

NEWLY-LISTED Cebu Landmasters, Inc. (CLI) said reservation sales in the first half have reached a level that’s close to what it booked for the full year of 2016, signalling “strong demand” for properties in the Visayas and Mindanao regions.

In a statement issued Friday, the Cebu-based property developer said it booked P2.87 billion in reservation sales in a matter of six months. Last year, it took the company 12 months to hit P2.94 billion in terms of units good as almost sold.

“We are very pleased to report our strong reservation sales performance for the first half of 2017... This is a testament to the strong demand for CLI’s diverse range of real estate offerings in Vis-Min which encompass the high-end, mid-market, and economic residential products along with our growing commercial and hospitality portfolio,” CLI President & Chief Executive Officer Jose R. Soberano III was quoted as saying in a statement.

The company’s new developments include 38 Park Avenue in Cebu IT Park, 60% of its available units already sold. Eighty percent of the total number units at its 22-storey MesaTierra Garden Residences Condominium in Davao City had been sold, just two months after its launch in March this year.

CLI has also recently launched Casa Mira South economic housing project in Naga, Cebu.

“Capitalizing on its well-designed projects, the company is confident that the outstanding sales performance in the 1st half will continue to be seen until the end of the year,” the company said.

CLI listed its shares on the main board of the Philippine Stock Exchange last June 2. The company has allocated the net proceeds from its P2.9-billion maiden offer for speeding up its expansion in the Visayas-Mindanao region.

This year, CLI is set to launch seven or eight more projects.

Shares in CLI added eight centavos or 1.53% to close at P5.31 each on Friday.