Cebu property developer’s H1 reservation sales hit P2.87B

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REAL estate developer Cebu Landmasters, Inc. (CLI) said Friday its reservation sales for the first half of this year had almost equalled its full-year 2016 sales on the back of strong take-up across its various projects.

Cebu Landmasters said it booked P2.87 billion in reservation sales for the first six months of this year, just 2 percent shy of the P2.9 billion reported figure for full-year 2016.

“We are very pleased to report our strong reservation sales performance for the first half of 2017,” President and Chief Executive Officer Jose Soberano 3rd told the Philippine Stock Exchange.

“This is a testament to the strong demand for CLI’s diverse range of real estate offerings in Vis-Min (Visayas-Mindanao), which encompasses the high-end, mid-market, and economic residential products along with our growing commercial and hospitality portfolio,” he added.


The company reported strong demand for its projects in the pipeline such as 38 Park Avenue at the Cebu IT Park, MesaTierra in Davao, and Casa Mira South economic housing project in Naga, Cebu.

The company launched in March its New York-inspired 38 Park Avenue project which costs P1.8 billion. Groundbreaking was done in June.

Upon its launch, Cebu Landmasters said 38 Park Avenue was already 60 percent sold.

MesaTierra, a 22-story residential condominium at the center of Davao City, has sold over 80 percent of its inventory since launching in March this year, the company said.

“Capitalizing on its well-designed projects, the company is confident that the outstanding sales performance in the first half will continue to be seen until the end of the year,” it said.

Cebu Landmasters is a newly listed property developer based in Cebu City, with projects in the Visayas and Mindanao.

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