Philippine property developer's H1 housing sales up 20% despite lockdown constraints

CLI founder, president and CEO Jose Soberano with wife Marose (EVP and treasurer) and son Franco (SVP and COO). - PI/ANN

MANILA (Philippine Daily Inquirer/ANN): Despite constraints from coronavirus-triggered lockdown measures starting mid-March, property developer Cebu Landmasters Inc (CLI) saw a 20 per cent year-on-year growth in first semester reservation sales, seen as an affirmation of resilient demand in the Visayas-Mindanao area.

CLI disclosed to the Philippine Stock Exchange on Wednesday that it had sold P3.4 billion worth of homes or over 1,500 housing units for economic and mid-market buyers from April to June despite a national lockdown. This brought first semester reservation sales to P6.2 billion compared to P5.2 billion in the same period last year.