Cebu Landmasters, Inc. (CLI) said it hopes to achieve P23 billion worth of reservation sales this year, reflecting robust market demand.
Reservation sales represent the total value of units reserved by buyers.
“We had P20 billion worth of reservation sales last year. We’re targeting, hopefully, P23 billion,” CLI Chief Operating Officer Jose Franco B. Soberano said on Money Talks with Cathy Yang on One News on Wednesday.
“We’re quite bullish. It might be counterintuitive for us, but we’re really running out of inventory.”
Mr. Soberano cited CLI’s residential project in Cagayan de Oro, One Manresa Place, which generated P4 billion in sales in two days. The tower, located within the 14.6-hectare Manresa Town, is nearly 90% sold.
“Cagayan de Oro is such a strong magnet of the Northern Mindanao region. There’s a lot of purchasing power there. So, the right value-for-money product needs to be brought to the market,” Mr. Soberano said.
The company accounted for 19.3% of the overall residential market in the Visayas and Mindanao, according to industry data.
“We can expect a strong acceleration in projects this year. Definitely, we’re gearing up to do so.”
Mr. Soberano earlier said the company plans to launch 10 to 12 projects this year with a total sales value of P36 billion.
CLI on Tuesday reported an 8% increase in its attributable net income to P3.01 billion in 2024 from P2.8 billion a year prior, amid increased demand in its projects.
The property developer earlier said it is allocating P15 billion for capital expenditures this year.
CLI shares climbed by 0.4% or one centavo to P2.52 apiece on Wednesday. — Beatriz Marie D. Cruz
