NextGen Day

CEBU CITY, Philippines – According to a Cebu-based real estate company, the increase in sales and sustained housing demand is an indicator of recovery from the coronavirus disease 2019 (Covid-19) pandemic.

The recovery of the property industry from the effects of the pandemic is visible in Cebu Landmasters Inc. (CLI) chairwoman and chief executive officer Jose Soberano III’s income performance, which effectively soared over its 2019 pre-pandemic bottom line by 30%.

In 2021, the publicly traded property firm reported a record net income attributable to shareholders of PHP2.61 billion, up 42 percent from PHP1.85 billion in 2020.

Soberano stated that the company’s performance in 2021 “puts us in a position to take up where we left off pre-Covid” and demonstrates that the industry is on track to long-term recovery.

He noted that “strong housing demand in the Visayas and Mindanao, particularly in the economic and mid-income categories,” has pushed the company’s sales to a new high of PHP16.5 billion in 2021, up 16 percent from the previous year.

By the end of 2021, Soberano added, work would be in full gear across all of their project sites in 16 key Visayas and Mindanao cities, with catch-up procedures in place to compensate for quarantine delays.

Masters Tower Cebu, which will generate 10,500 square meters of gross leasable area and include 195 rooms from the Sofitel Cebu City, is a big investment that is currently on track.

The 125-room Abaca Resort Mactan, a premium hotel planned to be among Cebu’s finest hotel destinations, is another anchor project, coming at a time when the tourism industry is likewise looking to revive post-pandemic.

CLI now operates one hotel and has seven more brands in various phases of development. By 2025, CLI will have added 1,775 keys to its growing hospitality portfolio.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---