Visayas-Mindanao (VisMis) developer Cebu Landmasters Inc. (CLI) remains optimistic and is launching ₱25 billion worth of projects in the second semester despite a 20-percent drop in consolidated net income to ₱2 billion in the first half of 2026 from the ₱2.49 billion earned in the same period last year.

In a media briefing on Wednesday, Aug. 12, CLI President and Chief Executive Officer (CEO) Jose Franco Soberano said there have been delays in the approval process for all developers, and these projects have finally been approved after regulators made changes to address the backlog.

CLI is preparing to replenish its inventory with more than 11 projects comprising over 5,600 residential units, mostly affordable housing under its Casamira brand.

The planned launches span established and emerging growth markets, including Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao. The pipeline will also mark CLI’s entry into Luzon with the planned launch of its first project in Pasig City.

“It includes a Casamira in southern Cebu, Casamira in Ormoc, and also Velmiro, our mid-market housing in Danao City. We also have new condo projects in Cagayan de Oro, Cebu, Butuan, and Davao. So, predominantly residential in the affordable and mid-market. We don’t have any new high-end project,” Soberano said.

He noted, “Most of these should have been launched earlier this year or late last year. So, we are really excited to bring them to market very soon.”

The upcoming launches are expected to replenish inventory following the continued sell-through of the company’s existing portfolio and provide additional opportunities to capture demand across its geographic markets.

“We see the first half largely as a timing shift. As approvals come through and fresh inventory returns to the market, we are well positioned to carry this strong underlying demand into our next phase of growth,” Soberano said.

He added, “Beyond replenishing our residential pipeline, we are preparing to launch two new estates, deepen our presence across our core VisMin markets, and take our first steps into Luzon. Together with our expanding recurring income businesses, these give us multiple platforms to sustain CLI’s growth over the longer term.”

Meanwhile, Soberano said the lower earnings in the first half of 2026 reflected the shifting schedules of project launches and revenue recognition, as well as a higher comparative base.

The first half of 2025 included higher gains of about ₱400 million from the sale of an investment property. Excluding this disposal of investment assets, core performance remained stable, with a slight decrease in net income attributable to the timing of new launches.

Total revenues dipped one percent year-on-year to ₱10.2 billion, while real estate sales declined two percent to ₱9.7 billion, largely reflecting the timing of licenses to sell (LTS) approvals that shifted planned project launches and the release of fresh inventory to the second half of this year.

Underlying residential demand remained healthy despite the limited addition of new inventory during the period. As of June 30, 2026, CLI’s property-for-sale portfolio comprised 107 projects and 45,507 residential units valued at ₱176.1 billion, with the portfolio improving to a 95-percent sell-through rate from 92 percent the previous quarter.

“Our first-half results demonstrate the resilience of our core business. Despite the timing shift in new launches, revenues remained broadly stable, margins stayed healthy, and recurring income continued to grow,” Soberano said.

He explained, “With limited fresh inventory, our teams sustained sales across our existing portfolio, reflecting continued demand for our residential projects. This gives us confidence as we bring more projects to market in the second half.”

CLI’s hotel and leasing businesses continued to contribute to the company’s diversification strategy, with both segments posting significant growth in the first half.

Leasing revenues rose 49 percent year-on-year to ₱162 million, driven by newly operational commercial assets, an expanding tenant base, and the opening of The Paragon Davao Lifestyle Mall.

Hotel revenues increased 15 percent year-on-year to ₱231 million, supported by higher occupancy and additional room inventory following the opening of Radisson RED Cebu Mandaue in the first quarter.