Cebu Landmasters, Inc. Delivered More than 16,000 Housing Units in 2023, Earmarked P27.65 Billion for Pipeline Projects in 2024

Leading developer in VisMin Cebu Landmasters, Inc. (CLI) reported steady expansion as of 2023, having completed 16,282 residential units. CLI has continuously provided value to its shareholders while sustaining its development and profitability. Since its IPO, the company has distributed P2.5 billion in dividends, with an additional P0.18 per share announced and paid this year.

“Over the years, CLI emerged as a resilient and agile organization, able to surpass crises and headwinds,” CLI chairman and CEO Jose Soberano III said during the company’s hybrid annual stockholders meeting on June 4 in Citadines Cebu City. “Starting with one housing project in a Balamban, Cebu, CLI now has 119 projects spread all over the Philippines by the end of 2023, while our net income grew 24% CAGR in 7 years from P 778 million to P3.58 billion,” Soberano highlighted.

With the introduction of ten projects valued at P18.7 billion, including the recently launched Mirani brand with affordable housing units priced between P1.90 million and P2.90 million, CLI maintains its market leadership in 2023. With 93% of all projects sold out, the company reported an exceptional sales result, surpassing P20.6 billion in reservation sales.

The publicly traded company also added three hotels to its portfolio, bringing its total number of room keys to over 1,500. Six more hotel projects are currently in the works. With this steadfast investment in our tourism sector, CLI is positioned to strengthen its current projects where value synergies are generated, boost future revenue growth, and enhance our cash flow profile.

In order to meet the demand, CLI had to utilize its oversubscription option in its follow-on offering of preferred shares, which it raised over P4.28 billion for last April. Through CLI NUD Ventures Inc., the firm also announced its first worldwide cooperation with the Japanese mega conglomerate NTT, demonstrating how CLI is adhering to international standards in its developments.

CLI's dedication to community-building projects via the Cebu Landmasters Foundation, Inc. (CLFI) continues to be a top focus. By working with local government agencies to offer socialized housing and integrated support to informal settlers through CLFI, the company demonstrates its commitment to reducing the housing backlog and improving the lives of partner communities. Additionally, CLFI implemented programs for its beneficiary farmers, offering them chances for a living and collaborating with them on environmental projects.

"We will foster stronger partnerships with local communities and form more strategic alliances, creating mutually beneficial relationships that support sustainable growth and development across the country," said Soberano.

In 2023, CLI allocated a total of P12.89 billion toward capital projects, of which 81.7% went toward project development and 6% toward land acquisition. To finish delivering on our sold units, an extra P14.5 billion is set aside for capital expenditures in 2024, with a consistent emphasis on project development and completion. Additionally, CLI has set aside P27.65 billion in 2024 for pipeline projects in the Gensan and Butuan growth zones, as well as its first project in Luzon.