As the first half of the year comes to a close, Cebu Landmasters, Inc. (CLI) is looking ahead with residential sales holding firm, recurring businesses gaining ground, and more than ₱25 billion worth of projects lined up for launch. Despite the shift in new project launches to the second half, the company sustained demand while its hotel and leasing businesses continued to grow. With more than 11 projects and 5,600 units in the pipeline, CLI is preparing to bring fresh inventory to key markets and expand its footprint.

CLI posted ₱10.2 billion in total revenues in the first half of 2026, just 1 percent lower than the previous year, while real estate sales reached ₱9.7 billion, down 2 percent. The softer figures mainly reflected the timing of project launches, as some Licenses to Sell approvals pushed new inventory releases to the second half. Residential demand remained steady, with CLI’s portfolio of 107 projects covering 45,507 units worth ₱176.1 billion and achieving a 95 percent sell-through rate as of June, up from 92 percent in the previous quarter.

Jose Franco Soberano, president and CEO of Cebu Landmasters, said the company’s first-half performance reflects the strength of its core business despite the shift in new project launches.

“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. 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.”

The developer also kept costs under control, with cost of sales remaining largely unchanged year-on-year and its gross profit margin holding at 50 percent. Consolidated net income stood at ₱2 billion, reflecting the timing of project launches and revenue recognition, as well as a ₱0.4-billion gain from an investment property sale recorded in the first half of 2025. Customer delinquency and cancellation rates also remained low at 2.91 percent and 3.54 percent of total receivables, respectively.

Beyond residential developments, CLI’s recurring income businesses continued to grow. Leasing revenues climbed 49 percent year-on-year to ₱162 million, driven by newly opened commercial properties, a growing tenant base, and the launch of The Paragon Davao Lifestyle Mall. Hotel revenues also rose 15 percent to ₱231 million, supported by higher occupancy and additional room inventory from the opening of Radisson Red Cebu Mandaue.

CLI’s continued investment in its commercial and hospitality portfolio also lifted total assets by six percent to ₱141.6 billion from ₱134.2 billion at the end of 2025. Net debt-to-equity stood at 1.72x as of June 30, reflecting investments made ahead of its next wave of project launches and expansion.

For the second half of 2026, CLI is preparing to launch more than 11 projects with over 5,600 units valued at around ₱25 billion. The projects will span Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao, while also marking the company’s planned entry into Luzon with its first project in Pasig City.

Soberano said the first-half results were largely a timing shift, with project approvals and fresh inventory expected to support demand in the coming months. The next phase will build on CLI’s residential business while broadening its markets and recurring income sources. “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,” he said.

The expansion also comes alongside a leadership transition. In June, Franco Soberano took over as president and CEO, while founder Jose Soberano III moved to the role of executive chairman as CLI enters its next phase of growth.