Regional property developer Cebu Landmasters Inc. on Thursday reported generating P2.7 billion from its 362-unit Velmiro Heights Davao project that sold out in only two days.
“The record-breaking sales performance shows the strong market acceptance of CLI’s projects in Davao,” Jose Soberano III, company chairman, said.
Velmiro Heights Davao is the seventh residential development under the Velmiro brand and part of the Garden Series catering to the mid and upper mid-market. It has 2,377 residential units all over Visayas and Mindanao.
CLI has 94 residential projects in 17 key cities in VisMin and has delivered over 16,000 housing units to different markets in the region. Close to 4,600 units are in Davao City. CLI will soon expand to Luzon.
The company earlier reported first-quarter income rising 15 percent this year to P978 million from P847 million a year ago on higher sales of its products.
Revenues rose 31 percent to P6.23 billion from P4.77 billion, driven by robust growth across the listed company’s business segments.
Reservation sales reached P7.18 billion.
Its Casa Mira Homes project in Butuan also sold out in just a month and generated sales of P2.6 billion. It claims a 93 percent sell-out status across all its projects in different stages of development.
