SunStar
+ February 08, 2021 LISTED firm Cebu Landmasters Inc. (CLI) has been named the leading residential developer in the Visayas and Mindanao (VisMin) in 2020 in terms of building condominium and subdivision projects.
A market study of Santos Knight Frank (SKF) disclosed that CLI accounted for 18,683 units or 12 percent of the available 86,126 units in the VisMin, pulling ahead of developers operating nationwide based on third quarter 2020 data.
Its closest rivals were Sta. Lucia Realty and Development and Camella Homes, at 11,897 units and 11,768 units, respectively.
The SKF study also revealed that the most saleable VisMin projects were by CLI which exhibited an absorption rate of 83 percent and sales takeup of 210 units a month, the company told the local bourse Monday, Feb. 8, 2021.
Published January 14, 2021, 5:30 AM
Despite the pandemic, VisMin developer Cebu Landmasters, Inc. (CLI) is ramping up project launches this year after posting record reservation sales in 2020.
In a disclosure to the Philippine Stock Exchange, CLI said it intends to push its growth momentum in 2021 with a supply pipeline of 8,000 units in 15 residential projects valued at P17 billion.
These units will be located in Cebu, Ormoc, Bacolod, Iloilo, CDO and Davao. CLI will use properties in its current landbank for its new projects in 2021.
“Despite the many challenges posed by the pandemic in 2020, our sales figures indicate strong revenue streams ahead and an upward growth trajectory. We found many opportunities amidst the crisis that contributed to our performance,”said CLI Executive Vice-President and Chief Operating Officer Franco Soberano.
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