Cebu Landmasters set to exceed P4B sales target
Soberano-led Cebu Landmasters Inc. (CLI) saw its reservation sales jump by more than a quarter to P3.66 billion in the nine moths ending September this year, driven by projects in key Visayas and Mindanao cities.
CLI president and CEO Jose Soberano said the company was on track to surpass its 2017 reservation sales target of P4 billion on robust take up projects in Cebu, Davao and Cagayan de Oro.
Combined reservation sales of mid-market garden series residential condominiums in Davao and Cagayan de Oro reached P1.26 billion while the high-end 38 Park Avenue at the Cebu IT Park, generated over P815 million.
On the other hand, phase 1 of economic housing project Casa Mira South in Cebu contributed P577 million while phases 1 and 2 of mid-end condo Mivesa Garden Residences in Cebu accounted for P526 million.
A significant part of the projected reservation sales will come from new residential launches and CLI’s highly popular economic housing brand named Casa Mira, Soberano said.
CLI recently acquired for P170 million a 14-hectare property in Granada, Bacolod, using proceeds from its initial public offering. The property will be developed into 1,200 Casa Mira townhouse units.