Cebu Landmasters Inc., a leading property developer in the Visayas and Mindanao, said Tuesday it saw a 14 percent year-on-year increase in reservation sales for 2022 to P18.8 billion on the back of the strong real estate market in central and southern Philippines.
It said newly-launched projects accounted for 73 percent of reservation sales.
Since listing on the Philippine Stock Exchange in 2017, Cebu Landmasters’ cumulative reservation sales had reached almost P80 billion.
The company said mid-market residential projects surged by 95 percent year-on-year to P8.83 billion and accounted for 47 percent of total reservation sales in 2022. Its economic housing brand Casa Mira followed with 39 percent.
Cebu Landmasters launched close to 5,000 units in 16 projects worth P28.4 billion in 2022 and were 74 percent sold by the end of the year. Sales velocity of these launches hit peak levels with most developments fully taken up within days. The East Village in Davao Global Township sold out in four days. Calle 104 in Cebu City was all taken up in three days, while CLI’s entry to the Palawan market Casa Mira Towers Palawan was fully sold in less than a week.
For ongoing projects, 97 percent of CLI’s completed projects have been taken up while projects under development and construction are 91 percent sold. Overall take-up rate of the company’s projects in all stages of development registered at 91 percent.
