LISTED Cebu Landmasters, Inc. (CLI) said it will launch 12 projects worth P29 billion in the second half of the year.
The planned projects consist of residential, mixed-use, and hotel properties in areas like Cebu, Davao, General Santos, Ormoc, and Palawan, CLI said in a regulatory filing on Wednesday.
CLI will launch seven new projects in Metro Cebu, Palawan, the Davao Region, and South Mindanao in the third quarter, it said.
In the fourth quarter, CLI targets to launch five residential developments in Metro Cebu, Northern Cebu, and Eastern Visayas.
“We’re encouraged by the sellout success of our earlier launches, which reflects strong, sustained demand across our VisMin markets. This momentum supports our robust launch calendar for the second half, aligned with CLI’s confidence in the region’s resilience and our commitment to serving diverse housing needs across price segments,” CLI Chief Operating Officer Jose Franco B. Soberano said.
“At the same time, we are actively scaling up our Luzon operations in preparation for our first project launch in the region by 2026,” he added.
For the first half, CLI saw a 13% increase in consolidated net income to P2.49 billion as consolidated revenue went up by 5% to P11.87 billion.
The growth was attributed to sustained sales momentum, improved revenue recognition, and faster project completions across the region.
“The robust reception of our recent launches — marked by strong take-up and early buyer engagement — demonstrates the sustained real demand in our markets and reinforces the sound fundamentals behind our long-term growth strategy,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said.
Reservation and estate sales improved by 3% to P14.3 billion driven by the flagship economic housing brand Casa Mira along with the Garden Series.
As of end-June, CLI’s total assets stood at P125 billion led by ongoing project build-up and strategic land acquisitions.
CLI has 127 developments with 105 property-for-sale projects and an expanding list of income-generating properties, including ten hotels and six offices.
On Wednesday, CLI shares fell by 1.2% or three centavos to P2.47 per share. — Revin Mikhael D. Ochave