Property developer Cebu Landmasters Inc. said Thursday reservation sales in 2021 reached P16.5 billion, up 16 percent from P14.25 billion in 2020 on sustained demand for housing projects.
CLI said in a disclosure to the stock exchange it launched 3,865 units in 2021 with total sales value of P18 billion. By end-2021, the company’s completed projects were 96-percent sold-out while developments under construction were 86-percent taken up.
Newly launched projects moved briskly and were 70-percent sold out.
CLI’s portfolio is 85-percent sold-out across different project stages. In terms of market category, CLI’s economic housing brand Casa Mira accounted for 41 percent of launches while the remainder were accounted for by high-end, mid-level and economic housing brands.
“CLI launched more economic housing projects as affordable quality housing was in demand throughout the pandemic. We started to unveil higher-end projects when the economy began to open and recover,” CLI chairman and chief executive Jose Soberano III said.