{"id":330451,"date":"2024-11-18T15:08:21","date_gmt":"2024-11-18T07:08:21","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330451"},"modified":"2024-11-18T15:08:24","modified_gmt":"2024-11-18T07:08:24","slug":"trade-the-news-cli-to-push-metro-manila-entry-despite-oversupply","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-cli-to-push-metro-manila-entry-despite-oversupply\/","title":{"rendered":"Trade the News: CLI to push Metro Manila entry despite oversupply"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Cebu Landmasters, Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>CLI<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 4.53<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Cebu Landmasters, Inc. (CLI) is still pushing through with its planned entry into the Luzon market despite the oversupply of condominium units in Metro Manila, a company official said.<\/p>\n\n\n\n

\u201cWe\u2019re definitely still on with our Luzon expansion. This includes one horizontal development in the Cavite area and potentially a condo development in Metro Manila,\u201d CLI Chief Operating Officer (COO) Jose Franco B. Soberano said in a virtual briefing last week.<\/p>\n\n\n\n

\u201cIf we do acquire land, we\u2019re looking at launching in 2026. We are expecting this Metro Manila oversupply to correct,\u201d he added.<\/p>\n\n\n\n

Last month, Leechiu Property Consultants said there is an oversupply of condominium units in Metro Manila worth 29 months, equivalent to 67,600 units across 510 buildings, due to high interest rates and the change in homebuyers\u2019 preferences.<\/p>\n\n\n\n

Quezon City and Ortigas (plus fringe areas) have the most unsold condominium units at 18,000 and 13,500, respectively.<\/p>\n\n\n\n

Despite the oversupply, Mr. Soberano said that CLI is banking on demand from the middle class for the planned Luzon developments.<\/p>\n\n\n\n

\u201cOur market is just too strong, and we will see that shining through with our emerging middle class and people entering the workforce,\u201d he said.<\/p>\n\n\n\n

\u201cFor condo development, we\u2019re really looking at good value-for-money sites. When it comes to housing, we are very confident. We are looking at more than 20 hectares or 2,000 units,\u201d he added.<\/p>\n\n\n\n

CLI is expecting to launch two additional projects for the remainder of 2024. These include the two-tower upper mid-market project The North Grove at Pristina Town in Cebu with over 1,000 units, and the first three towers in the 14.3-hectare Manresa Town township in Cagayan de Oro.<\/p>\n\n\n\n

For the first nine months, CLI recorded a 7% increase in its net income to P2.3 billion, led by the core business and recurring income streams.<\/p>\n\n\n\n

Revenue climbed by 9.2% to P14.1 billion as property sales grew by 8.7% to P13.8 billion on strong demand across residential, mid-market, and economic housing segments, along with commercial lot sales.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330451","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330451"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330451\/revisions"}],"predecessor-version":[{"id":330454,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330451\/revisions\/330454"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}