Property developer Cebu Landmasters Inc. said Tuesday it booked P18.88 billion in reservation sales last year, up 14 percent from 2021 on continued strong demand for house-and-lot developments.
CLI said in a stock exchange filing about 73 percent of reservation sales came from newly-launched developments, with the rest coming from ongoing projects.
It said among the market segments, mid-market residential projects surged 95 percent year-on-year to P8.83 billion and accounted for 47 percent of total reservation sales in 2022. CLI’s economic housing brand Casa Mira followed with 39 percent.
“Our numbers tell us that Cebu Landmasters made the most of the post-pandemic growth surge, and we are very grateful. The new residential units that we launched were immediately absorbed by the market as shown by our record-high sales velocity. Several of our new projects were sold out in a matter of days,” CLI executive vice-president and chief operating office Jose Franco Soberano said.
CLI launched close to 5,000 units across 16 projects with total sales value of P28.4 billion in 2022. Jenniffer B. Austria