CLI’s 9-month housing sales up 14% despite pandemic

Mid-market project Velmiro Greens Bohol, launched early this year, is now 86% sold out.

Visayas and Mindanao-focused property developer Cebu Landmasters Inc. has sold 14 percent more houses in the first nine months compared to last year when the coronavirus (COVID19) pandemic was not yet in the picture.

As such, CLI sees itself on track to surpass its 2019 sales performance in spite of the challenges brought about by the COVID19 pandemic.

For the first nine months, CLI posted P10.5 billion in reservation sales, of which P3.1 billion was generated in the third quarter.

“Demand for CLI housing has remained strong despite the pandemic. And, we attribute this to our focus in meeting the needs of our buyers in each of the 15 key VisMin cities we serve in terms of product, service and pricing, and making use of our wide sales and construction networks throughout the region,” CLI executive vice president and chief operating officer Franco Soberano said.

In the first nine months, CLI launched five projects worth P5.5 billion, bringing fresh inventory to ensure its growth. The company also entered new markets like Iloilo and Bohol.

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

With an average price of P2.6 million per unit, CLI has sold 4,000 units to date, making it the largest residential developer in Visayas and Mindanao.

“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,” said Soberano.

Even before the onset of the pandemic, CLI had been digitizing its sales platform to ensure strong connectivity to both buyers and agents. During the lockdown period, it launched its “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, learn the latest promos, and be updated with CLI’s projects.