ADVERTISEMENT
Manila Bulletin devider Business devider CLI posts record profit

CLI posts record profit

Published Apr 7, 2022 01:47 pm

VisMin developer Cebu Landmasters, Inc. (CLI) reported a 42 percent growth in attributable net income to a record P2.61 billion last year from the P1.85 billion earned in 2020.

In a disclosure to the Philippine Stock Exchange, the firm said that its 2021 results has surpassed its 2019 pre-pandemic bottomline by 30 percent.

76736

CLI Chairman and CEO Jose Soberano III said that the company’s 2021 performance exceeded its targets for the year and “puts us in a position to pick up from where we left off pre-COVID.” In 2019, CLI’s net income amounted to P2 billion.

Revenues grew 35 percent to P11.16 billion last year from 2020’s P8.3 billion, driven by significant construction accomplishments and robust sales, which have further resulted in a P25 billion or 23 percent increase in unrecognized revenue for future recognition.

Sales also hit a record P16.5 billion in 2021, 16 perent more than the previous year. This was on account of solid housing demand in the Visayas and Mindanao particularly in the economic and mid-income segments.

CLI’s 10 residential launches generated Php 18 billion in sales value.

Its economic housing brand Casa Mira generated the highest sales performance, taking 41 percent of total sales in 2021. This was followed by mid-market developments at 27 percent and high-end projects at 31 percent.

Beyond economic housing, CLI projects that fared well were Terranza Residences in Iloilo City, 82 percent sold by end-2021; and CLI’s first resort living complex Costa Mira Beachtown Mactan, 92 percent sold out within a week from launch.

By the end of 2021, construction was in full-swing across all project sites in 16 key cities in VisMin and catch-up measures had been put in place to compensate for delays caused by quarantine restrictions.

A major investment now progressing as planned is Masters Tower Cebu which will generate 10,500 sqm. of GLA and also incorporates Sofitel Cebu City’s 195 rooms.

Another anchor project is the 125-room Abaca Resort Mactan, a luxury hotel designed to be among Cebu’s premier hotel destinations.

CLI has 1 operating hotel with 7 other brands under different stages of construction. This will deliver a total of 1,775 keys to CLI’s growing hospitality portfolio by 2025.

Meanwhile, rentals have increased by 35 percent year-on-year following the completion of and signing of new leases in Latitude Corporate Center in Cebu Business Park. Overall, GLA has doubled to 29,000 sqm. and will be expanded over 50,000 sqm. upon completion of a number of projects within two years.

To ensure its growth momentum, CLI acquired 41 hectares in 2021, bringing the total landbank to over 100 hectares worth P12 billion. Another 70 hectares are in the last stages of negotiations.

In 2022, it has 21 projects in the pipeline for launching including a new site in Palawan. CLI kicked off the first quarter of 2022 with The East Village at Davao Global Township (DGT) and began construction of Casa Mira Towers Bacolod.

Related Tags

Cebu Landmasters Inc. Jose Soberano III
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.