Soberano family-led Cebu Landmasters Inc. (CLI) generated P2.7 billion in sales from selling all the units in its latest horizontal project in Davao City.
The Visayas and Mindanao-focused developer on Thursday said there was high demand for its Velmiro Heights Davao project, with all 362 units sold in two days.
“The record-breaking sales performance of Velmiro Heights Davao shows the strong market acceptance of CLI’s projects in Davao,” CLI chair and CEO Jose Soberano III said in a statement.
“The residential projects we launched in the area have been selling out in just a few days or within weeks after market introduction,” Soberano added.
CLI’s second horizontal development in Davao will sit within an 11.52-hectare lot in Barangay Magtuod.
Units range from 100 to 258 square meters each and are worth up to P11.15 million.
READ: CLI sets P27.65-B expansion cache
According to CLI, the Davao project is also its seventh under the Velmiro brand, which is part of the listed firm’s Garden Series developments that cater to mid and upper mid-market buyers. There are around 2,300 Velmiro residential units across Visayas and Mindanao.
CLI expects to start turning over units in another Davao-based project, Casa Mira Towers LPU Davao, by the last quarter of the year.
The 263-room Citadines Paragon Davao, meanwhile, will open in early 2026, according to the developer.
Currently, CLI has 94 projects—equivalent to more than 16,000 housing units—across 17 cities in the Visayas and Mindanao. Nearly 4,600 units are in Davao City alone.
Last month, CLI launched another Citadines hotel in the Visayas, this time in Bacolod City, as the real estate company aimed to expand its hospitality business outside Cebu City.
READ: CLI opens first hotel outside Cebu City
According to the company, the P2-billion Citadines Bacolod is currently the largest international hotel in the city on Negros Island.
It is also CLI’s fourth operational hotel project and first outside Cebu.
CLI booked record revenues, up by 31 percent to P6.2 billion, in the first three months of the year due to strong sales in its residential and hotel segments.
Net income likewise climbed by 15 percent to P978 million.
CLI, which was established in 2003, plans to launch 11 projects worth P27.65 billion this year.
The developer previously said it was seeing strong interest from landowners in Cavite province and Metro Manila, pushing forward its planned Luzon debut this year.