CLI posts 41% jump in reservation sales | Inquirer Business
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CLI posts 41% jump in reservation sales

/ 04:40 AM August 15, 2020

The Soberano family’s Cebu Landmasters Inc. (CLI) said real estate prospects remained strong in the Visayas and Minda­nao despite a slowdown in the broader economy caused by the COVID-19 pandemic.

The company said reservation sales, an indication of future revenue, jumped 41 percent to P7.44 billion in the first semester of 2020. This was mainly from its Casa Mira brand.

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CLI remained resilient even as mid-income housing, partly reliant on sales to overseas Filipinos, took a hit during the crisis.

While profits sank 7 percent to P792 million in the first semester, the builder was on track to meet its full-year earnings targets, company chair and CEO Jose Soberano III said.

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He added that projects will proceed in the second half of the year as buyers said they would continue with their purchases.

“The pandemic has made many see that owning a home in a safe and secure community is a good way to secure their family’s future,” Soberano said in a statement.

The company has 14 projects this year valued at P19 billion. —MIGUEL R. CAMUS

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TAGS: Cebu Landmasters Inc., CLI
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