Cebu Landmasters Inc. (CLI), the leading VisMin-based developer, reports a record-high 61% reservation sales growth of P4.6 billion in the first half of 2018 due to strong demand of its projects. The figure is 65% of the company’s target of 7B for the entire year and already surpasses its full-year 2017 reservations sales performance.
“Our VisMin 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.
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| Phase 1 of Base Line Center (BLC) is set to be completed before the year ends. Phase 2 construction has started. BLC is the first of many mixed-use projects rolled out by CLI, followed by 38 Park Avenue, Astra Centre, MesaVirre Garden Residences and The Paragon Davao |
Casa Mira South in Cebu, CLI’s economic brand that sells units for up to P1.6 million each, contributed 11.2 percent to the total 1H reservation sales.
Other developments that boosted sales were MesaVirre Garden Residences, CLI’s first project in Bacolod that sold out within a month after launch; Baseline Center, a premier mixed-use development located at the heart of Cebu City, is 80 percent sold out; and 38 Park Avenue, a premier residential project at Cebu IT Park, is also now 80 percent sold out.
Soberano said CLI will launch "fresh inventory" in the coming weeks to support its sales goal. Specifically, the new projects will be located in Cebu, Davao, Cagayan de Oro, Iloilo, Bacolod and Bohol. The developer said the second phase of MesaVirre Garden Residences is underway to cater to a growing number of interested buyers who were not able to purchase Phase 1. MesaVirre Bacolod was launched early this year, along with Casa Mira Coast in Sibulan, Negros Oriental. It is also preparing to launch it’s newest mixed-use project, Astra Centre in Mandaue City.
CLI also launched two hotels this year: Radisson Red in Astra Centre in Mandaue City and Citadines Bacolod, a serviced residence in partnership with The Ascott Limited that compliments its MesaVirre Garden Residences.
To date, the developer has a portfolio of 969 hotel rooms from its five projects. These are the 180-room Citadines Cebu City in Base Line Center to be completed this year; the 263-room Citadines Paragon Davao set to open by 2021; lyf Cebu City, a 180-room hotel in Base Line Prestige that will be operational in 2022; Radisson Red in AS Fortuna in Mandaue City, Cebu with 146 rooms; and Citadines Bacolod, which will have 200 rooms.
CLI was recently awarded by BCI Asia as one of the top 10 developers in the Philippines – the only one from the Visayas and Mindanao region. The developer was also named by Santos Knight Frank as the leading local developer in VisMin in a 2017 property market study.
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