CLI reser­va­tion sales up 86% at P8.54 B in 2018

The Freeman - - BUSINESS - — Carlo S. Loren­ciana

Listed prop­erty firm Cebu Land­mas­ters Inc. said yes­ter­day it recorded an P8.54-bil­lion reser­va­tion sales in 2018, mainly boosted by its Cebu projects.

In a dis­clo­sure to the Philip­pine Stock Ex­change, the com­pany said it sur­passed its P7-bil­lion tar­get for the year by 22%. The 2018 reser­va­tion fig­ure has ex­ceeded the pre­vi­ous year's P4.58 bil­lion by 86%.

CLI said the re­ported amount is net of the jointven­ture part­ners' share. Full sales value is ex­pected to reach a record P9.76 bil­lion.

“This 2019, we will ex­pand fur­ther out of our Cebu home base to Iloilo, Bo­hol, Or­moc,

Gen­san and Davao,” com­pany CEO Jose Sober­ano III said. “And to fur­ther diver­sify our port­fo­lio ex­pand­ing to town­ships and ho­tels.”

“The year ended even stronger than what we ex­pected,” he said.

Last year, the prop­erty com­pany was on an ex­pan­sion mode to other key ar­eas in Visayas and Min­danao.

CLI re­ported that 57% of the booked sales came from var­i­ous Cebu projects. While projects in other VisMin cities such as Ca­gayan de Oro con­trib­uted 16%, while the Ba­colod and Du­maguete prop­er­ties ac­counted for 15% and 11%, re­spec­tively.

Ro­bust sales were driven by the com­pany's new launches: Base­line Pres­tige, One As­tra Place and Casa Mira Tow­ers in Cebu; as well as Me­saVirre Gar­den Res­i­dences in Ba­colod.

“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,” Sober­ano said.

Shares of the com­pany were down 1.15% to P4.28 apiece in early trad­ing yes­ter­day.

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