Cebu Landmasters posts record reservation sales in H1

Cebu Landmasters Inc. (CLI), the leading Visayas-Mindanao-based developer, will launch fresh inventory in the coming weeks after posting record-high reservation sales in the first six months this year.

In a disclosure to the stock exchange Monday, CLI said the new projects will be pursued in Cebu, Davao, Cagayan de Oro, Iloilo, Bacolod and Bohol.

The property developer said the second phase of residential project, MesaVirre Garden Residences in Bacolod City is already underway.

It is also preparing to launch its newest mixed-use project, the Astra Centre in Mandaue City also in Cebu.

CLI reported a record-high 61-percent reservation sales growth totaling P4.6 billion in the January-to-June period due to strong demand of its projects.

This was 65 percent of the company’s target of P7 billion for the year and already surpassed its full-year 2017 reservations sales performance.

“Our Visayas – Mindanao expansion is on the right track. With our fast turnaround strategy at work across VisMin, we are able to generate more inventory and move very efficiently from acquisition to sales and construction. This has allowed us to grow our reservation sales very strongly,” said CLI chief executive officer Jose Soberano III.