Cli reservation sales rise in H1

Cebu Landmasters Inc. (CLI) registered reservation sales of P6.2 billion in the first half, up 29 percent year-on-year.

The growth was driven by P3.4 billion in sales of over 1,500 housing units from April to June despite the quarantine.

“The pandemic is making buyers realize the necessity to live in safe and secure communities. It serves as an added push for families to buy their much-needed home, and they see that CLI’s housing brands fulfill their requirements particularly our economic and mid-income communities,” said Jose Soberano, chief executive officer of CLI.

CLI aims to fill significant housing backlog gaps in the Visayas and Mindanao areas.

Leechiu Property Consultants, one of the country’s top real estate services firms, projected that Visayas and Mindanao housing backlogs would be at 2.85 million houses by 2022 with an average of 475,000 new housing units adding up to the increasing demand annually. The study also showed that 44 percent of the backlog is for economic housing and a total of 200,000 units are needed per year.

CLI also recently boosted its digital capabilities to sustain buyer interest.

The company likewise stretched the payment terms, making product offers more attractive for buyers and easy for their pockets especially during this challenging time.

Monthly equity with the promo now ranges from P4,400 to P9,900 for economic housing, from P5,200 to P13,800 for midmarket, and from P7,200 to P14,700 for high-end.

Several of CLI’s housing projects are located in cities that allowed construction works to continue such as Cagayan de Oro, Dumaguete, Bacolod, and certain areas within the province of Cebu as these places were not as badly affected by COVID-19 as Luzon.