CLI records 86% rise in reser­va­tion sales in 2018

Business World - - Corporate News - Vin­cent Mariel P. Galang

CEBU Land­mas­ters, Inc. (CLI) saw its reser­va­tion sales surge 86% in 2018, as it launched new projects in the Visayas and Min­danao.

In a dis­clo­sure to the stock ex­change, the listed prop­erty de­vel­oper said reser­va­tion sales, which serve as a mea­sure for fu­ture rev­enue to be rec­og­nized, reached P8.54 bil­lion as of end-2018, higher than the pre­vi­ous year’s recorded tally of P4.58 bil­lion.

CLI was also able to ex­ceed its P7­bil­lion tar­get for 2018 by 22%.

“The year ended even stronger than what we ex­pected. The year 2018 was a year of ex­pan­sion to other key ar­eas of VisMin for­ti­fy­ing CLI’s lead­er­ship in prop­erty de­vel­op­ment of the re­gion,” Jose R. Sober­ano III, CLI pres­i­dent and chief ex­ec­u­tive of­fi­cer, said in a state­ment.

Mr. Sober­ano said the com­pany recorded ro­bust sales of newly launched projects such as Base­line Pres­tige, One As­tra Place, and Casa Mira Tow­ers, which are lo­cated in Cebu, and Me­saVirre Gar­den Res­i­dences in Ba­colod.

The bulk or 57% of the booked sales came from Cebu projects, while sales of Ca­gayan de Oro projects ac­counted for 16%. The rest of the sales came from Ba­colod and Du­maguete projects.

By hous­ing seg­ment, CLI said its high-end Premier se­ries ac­counted for 36% of sales, fol­lowed by the mid­mar­ket Gar­den se­ries (34%), and Casa Mira (30%).

This 2019, the com­pany plans to con­tinue ex­pand­ing out­side of Cebu, par­tic­u­larly Iloilo, Bo­hol, Or­moc, Gen­eral San­tos, and Davao.

CLI also plans to de­velop town­ships and ho­tels in the fu­ture.

“Our strat­egy is prov­ing ef­fec­tive and, given the strength of the prop­erty mar­ket, we will con­tinue bring­ing our de­vel­op­ments to even more Filipinos in the Visayas-Min­danao re­gion,” Mr. Sober­ano said.

Shares in CLI slipped by P0.07 or 1.62% to close at P4.26 per piece at the stock ex­change on Mon­day. —

ROBIN­SONS Su­per­mar­ket opened at Base Line Cen­ter in Cebu City last De­cem­ber 2018.

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