Cebu Landmasters Secures P3 Billion Sustainability-Linked Notes to Fund Growth and Social Impact

Cebu Landmasters’ flagship economic housing brand, Casa Mira, now spans 18 communities— both vertical and horizontal—across key cities in the Visayas and Mindanao, delivering nearly 20,000 housing units and solidifying the company's footprint in high-growth markets. Featured above is an aerial view of Casa Mira South, a thriving residential development located in Naga and San Fernando, Cebu.

Listed property developer Cebu Landmasters, Inc. (CLI), known for its stronghold in growth markets in Visayas and Mindanao, recently inked a P3 billion sustainability-linked notes (SLN) facility agreement with top institutional investors. This further reinforces its position as a trusted and forward-looking real estate developer in the region. 

BPI Capital Corporation acted as Sole Arranger and Bookrunner for the transaction, while BPI Wealth will be acting as Facility Agent and Paying Agent for the sustainability-linked notes.

These qualified buyers include, among others, BPI Asset Management and Trust Corporation (“BPI Wealth”) in its capacity as trustee or investment manager for various noteholders, Sun Life Investment Management and Trust Corporation (“SLIMTC”) acting as Investment Manager on behalf of its clients.

The notes have tenors of seven and ten years from initial issue date. The proceeds will be used for real estate development and general corporate purposes aligned with CLI's sustainability linked framework, a roadmap that integrates environmental and social commitments into its financing goals.

“We are honored by the continued trust of leading financial institutions who share our long-term vision,” said Grant Cheng, Chief Financial Officer of Cebu Landmasters, expressing gratitude for the strong institutional backing. “This transaction not only provides us with vital capital for growth but also validates our strategy of pursuing inclusive, sustainable development in fast growing regions. It’s a powerful signal that the market is ready to embrace high-potential names beyond the usual circles, allowing us to pursue growth and innovation with renewed momentum.”

This latest issuance builds on CLI’s track record of tapping capital markets to support its expansion. It follows the company’s Php 5-billion sustainability-linked bond issued earlier this year, another evidence of strong investor interest in the company’s scalable and purpose-driven growth. In recent years, CLI has launched multiple financing instruments including bonds and preferred shares, cementing its reputation for transparency and disciplined financial management. 

The notes will contribute directly to CLI’s target of delivering 16,000 affordable housing units by 2029, effectively doubling the company’s total output since its founding. This ambition reflects CLI’s mission to address the country’s housing backlog, particularly in underserved growth corridors across Visayas and Mindanao.

Luis Antonio Zialcita, Chief Investment Officer of BPI Wealth, commented: “Our participation in this initiative reflects our belief in the strength of CLI’s vision and our confidence in the long-term value it can deliver. We look forward to playing a continued role in empowering growth stories that align with our values and long-term goals” 

SLIMTC President Mike Enriquez adds “We are proud to be part of this sustainable finance transaction as we continue to look for investment opportunities that benefit our clients and the country. This transaction provided a unique opportunity for us to directly support social development initiatives – in this case, affordable housing for Filipinos nationwide.”

Since its IPO in 2017, CLI has tapped the capital markets multiple times to support its expansion: from its first bond in 2022 to its preferred share issuance in 2024, and its first sustainability-linked bond in 2025.

This SLN issuance reflects a continued trajectory of disciplined yet ambitious growth, grounded on the company’s strong balance sheet, market leadership in VisMin, and commitment to sustainability. 

With solid financials, consistent market leadership in VisMin, and a robust development pipeline, CLI continues to be one of the Philippines’ most resilient and progressive developers. This latest fundraising milestone not only enhances its liquidity but also reinforces its mission of delivering real estate that is both economically and socially transformative.