Prominent VisMin property developer Cebu Landmasters Inc (CLI) reported a 13% increase in first-half net income to 2.49 billion pesos ($44.6 million), driven by strong sales momentum and faster project completions across the Visayas and Mindanao regions.
The Cebu-based company, which focuses on developing affordable housing in the Philippines’ secondary cities, said consolidated revenues rose 5% to 11.87 billion pesos in the six months ended June 30.
Real estate sales remained the primary revenue driver, while the company’s diversification efforts showed strong gains with hotel operations income surging 132% and leasing revenues advancing 53%.
“Our strong performance in the first half of the year reflects the disciplined execution of our growth strategy,” Chairman and Chief Executive Jose Soberano III said in a statement.
The company’s reservation and estate sales reached 14.3 billion pesos, up 3% from a year earlier, with flagship projects achieving high sell-out rates.
One Manresa Place, launched earlier this year, sold over 90% of its units and generated more than 5 billion pesos in sales within two weeks of launch.
CLI’s total assets stood at 125 billion pesos by June, supported by ongoing project development and strategic land acquisitions.
The company operates 127 developments, including 105 property-for-sale projects and income-generating assets comprising 10 hotels and six offices.
Looking ahead, CLI plans to launch 12 new projects worth 29 billion pesos in the second half, targeting key markets including Cebu, Davao, General Santos, Ormoc, and Palawan.
The company also signaled expansion beyond its traditional Visayas-Mindanao stronghold, with Chief Operating Officer Jose Franco Soberano saying CLI is “actively scaling up our Luzon operations in preparation for our first project launch in the region by 2026.”
CLI shares have gained approximately 8% year-to-date on the Philippine Stock Exchange.
CebuBusinessNews.ph 2025
