confidence in Cebu Landmaster’s Manresa Town in CDO.
In its latest Investors and Analysts briefing, leading developer Cebu Landmasters, Inc. (CLI) reported a 2024 consolidated revenue of P19.5 billion, a 4 percent growth from P18.8 billion in the prior year, brought by a solid performance in their core business segments.
This strengthens the leadership of the Cebu-based property developer in Visayas and Mindanao with a 19.3 percent market share, compared to 16 percent in 2023, according to Colliers Philippines’ real estate market study.
The company's property sales recorded steady growth with a 5 percent increase to P17.3 billion from P16.5 billion, showing the company's continued capability to grow its topline.
Currently, CLI’s portfolio is composed of 125 projects with 96 residential developments, six offices, 10 hotels, 10 mixed-use developments, and three estates.
In 2024, five real estate projects were launched including Velmiro Heights Consolacion, Mindara Residences, Velmiro Heights Davao, Casa Mira Homes Butuan, and Mirani Steps Danao. In addition, The Pad, lyf, and Citadines Bacolod City hotels were launched. Red Radisson Cebu, Citadines Paragon Davao, and Mercure Hotels Cebu Downtown are scheduled to be completed by the end of the year.
In 2025, CLI is positioned to maintain its growth momentum while gearing up for several projects in the pipeline.
The property developer aims to expand its hospitality portfolio to 10 hotels with over 1,900 rooms, taking advantage of the region's growing tourism industry.
Ongoing and new projects remained in high demand throughout 2024, reaching a strong 94 percent sell-out rate largely driven by the company’s mid-market and economic brands. One Manresa Place in Cagayan de Oro generated P4 billion in sales, an 89 percent sold-out rate, in just two days.
"Encouraged by our 2024 turnout, CLI is set to roll out 10 to 12 new projects this year worth P36 billion worth of sales value, having a mix of ongoing developments and new ventures in emerging markets and locations. These launches aim to build on CLI’s regional momentum and capture opportunities in underserved markets. 2025 is a critical stage as we move into bigger-scale residential and township developments, and ramp up our recurring income projects," said CLI Chairman and CEO Jose R. Soberano III.
The listed company reported 107 hectares of landbank and targets the acquisition of 175 hectares in emerging key cities. Its capital expenditure of P10.1 billion has been allotted mostly for property development.
"CLI continues to invest in projects that deliver quality and value for money, meeting the changing needs of our markets,” added Soberano. "Our foundation remains strong and we're well-positioned for continued growth. Our proven track record, strategic pipeline, and deep roots in VisMin power our momentum as we expand across the country."
Soberano also announced the company’s target to offer fresh inventory in the Luzon region.
“We are looking for vertical development in Metro Manila and secondly, a housing development in the Cavite area. Not just affordability, we are going to bring innovation and better technology, specifically to the emerging young population. Applying what we have learned with a hundred residential projects we have done over the last decade or so, we are ready for the challenge,” emphasized Jose Franco B. Soberano, CLI director, senior EVP, and COO.
Recently, CLI opened its Makati office branch to support its operations in Luzon.
The property developer also disclosed plans to address the housing backlog of 6.7 million houses, of which 50 percent are located in the Visayas and Mindanao. Eighty-five percent of CLI's housing portfolio is in the affordable and accessible market segment.