CLI CEO Jose Soberano III: Looking forward to survive and thrive in a new normal

CEBU, Philippines —  Cebu-based property developer, Cebu Landmasters Inc. (CLI), is building up its preparations to take advantage of the opportunities brought about by the new normal business environment.

“This is a good time to plan when things are not too busy to do some serious execution of the plans when clear opportunities come along, but in both instances, hard work is paramount,” CLI president and chief executive officer (CEO) Jose “Joe” Soberano III said responding on the threat of the pandemic to the economy.

Just like other committed and serious players in business, Soberano is leading his company to grasp the realities of a new normal—not resisting but blend and thrive with it.

“It’s business as usual for CLI, or should I say more appropriately, business unusual. We face uncertain times not knowing when this pandemic will end but we should recognize things that we can control and put them into motion and overcome the difficulties,” he said.

The publicly-listed company sees the opportunity of building and selling affordable homes and condos as it was addressing a need for individuals and families.

“We continue to pursue these goals as aggressively and as best as we can,” he added.

Significantly, Soberano is directing his growing firm to utilize this strange time to review and strengthen the organization and its processes, “so that they become even more relied upon when better times come.”

Recently, Soberano announced that the company is determined to pursue 27 projects that are currently in the pipeline, despite COVID-19 distractions.

Fourteen of the total planned projects are to be laid down in 2020, two of which will be formally launched towards the second half of this year. The company already launched two of these projects earlier.

CLI maintains a bullish posture on the demand side for residential products, as this is confirmed by its P2 billion sales take-up generated for the months of April and May 2020, at the height of Enhanced Community Quarantine (ECQ).

According to Soberano, the projects that will be pursued by the company post-covid are largely on residential, both condominium and house and lot packages.

These projects are spread in different parts of Visayas and Mindanao, where CLI is making strong presence.

These 14 residential projects are seen to generate an approximate value of P19.4 billion.

The 13 remaining planned projects that will be started next year, are mixed-use or hospitality related investments.

However, Soberano admitted that the company is on high calculated risk posture, depending how the recovery will turn out starting 2021 especially in tourism, and leasing businesses.

“CLI is moving forward with both prudence and conviction. We will still be launching over 13 projects this year, especially in key segments with sustained demand including economic vertical and horizontal housing. The VisMin will recover faster, as restrictions have eased sooner with strong measures in place. There is sustained demand amid a low supply environment in key VisMin cities, as evidenced by our P2 billion sales takeup over April to May. As we are quick to adapt to this new normal and catch-up to 100 percent site operations. We are aiming to achieve a full-year guidance that will closely match the 2019 levels,” he added.