CLI posts P12-B in reservation sales

CEBU Landmasters Inc. (CLI), the leading housing developer in the Visayas and Mindanao region, announced today its 2019 reservation sales of P12.67 billion, a 31% increase from the P9.6 billion posted in 2018.

The full-year reservation sales surpassed the firm’s P12.5 billion target owing to the strong take up of key projects mostly in its home base Cebu City which contributed 58% of the booked sales. Davao City accounted for 15%; Cagayan de Oro, 13%; Bacolod, 12%; and Dumaguete, 2%.

“Reservation sales is an indication of future revIN

enue and with the robust sales performance of our projects, we are again anticipating outstanding financial results from CLI,” says CLI chairman and chief executive officer Jose Soberano III. CLI exceeded market expectations particularly in Cebu City with Mivela Garden Residences, a mid- market residential condominium in the prime location of Banilad, which sold 80% of available inventory in less than a month. The strong take up prodded the firm to launch its fourth and last tower ahead of schedule.