CLI reports robust 2020 performance, optimistic for 2021
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Cebu Landmasters posted 12% growth for 2020 despite the Pandemic, announces more projects this year
2020 was a challenging year for most businesses as the Pandemic has disrupted consumer spending and confidence led by community quarantine restrictions to slow down the spread of the virus. The real estate industry wasn’t spared. But despite the challenges, Cebu Landmasters Inc. has posted robust sales take-up of P14.2 Billion for 2020.
Homegrown Developer CLI even launched 9 projects last year in key cities in the Visayas, Mindanao area which includes residential, offices, hotels, mixed-use, and township projects. CLI COO Mr. Franco Soberano also reported a 12% YOY growth backed by sustained housing demand. This includes a consolidated topline performance of P8.3 Billion with over P20 Billion in unrealized revenue, and a parent net income of P1.85 Billion for FY 2020.
And to further cement its leadership in the VisMin area, the company is expected to launch 15 residential projects worth P19 Billion and the reclamation of a 100-hectare techno-business Hub in Minglanilla Cebu this 2021. With these developments, CLI’s growth trajectory is expected at 15-20% upside.
