Virus fails to restrain Cebu Landmasters as sales grow 14%

The Visayas and Mindanao-focused property developer Cebu Landmasters Inc. (CLI) has sold 14 percent more houses at end-September compared to the same period last year, transcending challenges arising from the COVID-19 pandemic.

As end-user demand for affordable homes remained robust despite lockdown restrictions, CLI sees itself on track to surpass its 2019 full-year sales performance.

As of end-September, CLI has already posted P10.5 billion in reservation sales, of which P3.1 billion was generated in the third quarter.

“[We] attribute this to our focus in meeting the needs of our buyers in each of the 15 key VisMin (Visayas-Mindanao) cities we serve in terms of product, service and pricing, and making use of our wide sales and construction networks,” CLI executive vice president and chief operating officer Franco Soberano said.

During the period in review, CLI launched five projects worth P5.5 billion. The company also entered new markets like Iloilo and Bohol.

Focused on VisMin’s economic and mid-range markets, CLI attributed 48 percent of sales to its projects in Cebu, 21 percent in Iloilo, 13 percent in Cagayan de Oro, 12 percent in Bacolod.

With an average price of P2.6 million per unit, CLI has sold 4,000 units to date, making it VisMin’s largest residential developer.

CLI’s Casa Mira developments have been exceeding sales targets. It has sold 68 percent of Casa Mira Iloilo’s 1,188 units. Casa Mira Towers Cagayan de Oro and a new phase of Casa Mira South in Cebu, meanwhile, sold out within weeks after their public offerings.

“We are always mindful of finding and serving the market segments where real estate demand is strongest. And our goal is to always remain close and fulfill the needs of our customers no matter the circumstance,” Soberano said.

Even before the onset of the pandemic, CLI had been digitizing its sales platform to ensure strong connectivity with both buyers and agents.

During the lockdown period, it launched a “Buy-A-Home” microsite to provide sales partners quick access to new project inventories and promotions. It also responded more efficiently to buyer inquiries over social media and maintained strong ties with buyers through the CLI Masters Portal, an app through which homeowners can track their payment status and be updated with CLI’s projects.

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Article and Photo originally posted by Inquirer last October 23, 2020 5:16am and written by Doris Dumlao-Abadilla.