Cebu Landmasters leads Industry with 25 projects for 2021
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Despite challenges in the Real Estate Industry amidst the Pandemic, Cebu Landmasters Inc. launches 25 projects for 2021
Leading VisMin developer Cebu Landmasters Inc. (CLI) has set aside P12 billion in capital expenditures to finance 25 projects for 2021 – 15 of which target the economic and mid-market residential segments in the region and are collectively valued at Php 19 Billion, according to Jose Soberano III, CLI chairman, president and CEO at the firm’s annual stockholders meeting in Cebu City.
CLI is setting its sights on a 15%-20% increase in revenues from the P8.3 billion in consolidated revenues it registered in 2020, closely matching 2019’s P8.5 billion. Parent NIAT in 2020 was at P1.85 billion. “Our 2021 projects will expand our VisMin footprint to cities like Ormoc, Bohol, Bacolod, Dumaguete, Iloilo and other key cities in the region while further strengthening our market share in Cebu and Cagayan de Oro where we have established a strong presence,” according to Soberano.
Even at the height of COVID 19, CLI maintained its position that VisMin – where COVID cases have been relatively low – would easily bounce back economically from the pandemic. It avoided layoffs, maintained its workforce and even increased its headcount to over 600 employees by the end of the year, said Soberano. “2020 was a very challenging year. But we at CLI chose to look at opportunities and focus on the brighter side when we could.” He cited the firm’s heavy investment early on during the pandemic in establishing a strong digital presence that would allow clients here and abroad to select units all the way to making reservation payments. Its online platforms and flexible payment terms were largely responsible for the company’s record reservation sales of P14.25 billion in 2020.
“We have deep roots in VisMin. We are homegrown and make the most of this unique advantage and expertise,” said Soberano.
