Cebu Landmasters posts record Php 11.8 billion in 9-month reservation sales, up by 13%

*Cebu Landmasters’ newly launched Php 2.3 billion premier residential tower Terranza Residences in Iloilo City is now more than 70% sold.*

Leading developer in VisMin Cebu Landmasters Inc. (CLI) posted a 13% growth in reservation sales year- on-year to P11.8 billion for the first nine months of 2021. Most of the seven projects launched during the period are now 90% to 100% sold out.

The lion’s share of those projects remains concentrated in Cebu which accounted for 38%; followed by Iloilo, 21%; Cagayan de Oro, 17%. The remaining come from projects in Davao, Bacolod, Dumaguete, Ormoc and Bohol.

In terms of market segment, CLI economic brand Casa Mira garnered 50% of the sales; followed by the mid-market Garden Series with 33%; and the high-end Premier Masters, 17 percent.

“We see our sales momentum further picking up speed in the fourth quarter as we launch more residential projects in VisMin for our buyers who are predominantly end-users. Thus, it is foreseen that the company will exceed its sales target for the year,” said Jose Soberano III, CEO.

“Demand for mid and economic homes in VisMin continues to be strong despite the extended economic effects of the pandemic and we are optimistic take-up will further improve as recovery takes place.”

Soberano further pointed out that CLI has maintained close connections with its clients through effective digital channels that offered virtual tours and user-friendly and convenient online sales platforms. To further enhance its connections to the customer, the firm opened new satellite sales offices bringing the total number to eight across VisMin.

The listed company looks forward to further expanding its township developments which will provide a stream of projects over the long term. The largest of these is the 100-hectare Minglanilla project in Cebu which was issued by the Philippine Reclamation Authority in early October a Notice to Proceed. This paves the way for the establishment of a techno-business hub with a fully integrated port facility.

The township development will have residential, commercial, industrial, civic and recreational components.

In August, CLI increased its stake in the MingMori Development Corporation, the technohub developer, to 80%. This strengthens its position as the developer and project manager of this ambitious township. The bidding and awarding of contracts to suppliers is scheduled in the last quarter of 2021. Actual reclamation is expected to begin in the first quarter of 2022.

CLI is also set to start work on its 14.4 hectare university township Manresa Town in Cagayan de Oro and the adjoining Xavier University Masterson Campus, which has been named the campus of the future. Meanwhile, it has almost completed the land development of the 22-hectare Davao Global Township.

Soberano disclosed that CLI is pursuing more land acquisitions and estate development projects. “We continue to pursue projects in anticipation of VisMin’s strong recovery and opportunities to move this region forward,” he said.