CLI lines up P25B H2 project launches

MANILA, Philippines — Cebu Landmasters Inc. will launch over P25 billion in projects in the second half as it replenishes inventory after strong sell-through of its portfolio

On Wednesday, the Soberano family-led developer said the pipeline includes more than 11 projects with over 5,600 units across Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao, marking its entry into Luzon with its first project in Pasig City.

READ: Cebu Landmasters Q1 net income falls to P1B

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CLI ended the first half with a 95-percent sell-through rate across 107 property-for-sale projects comprising 45,507 residential units valued at P176.1 billion. This improved from 92 percent in the previous quarter.

The company said total revenues were nearly flat at P10.2 billion, down 1 percent, while real estate sales slipped 2 percent to P9.7 billion.

CLI attributed the decline mainly to the timing of licenses to sell approvals, which pushed some planned project launches and the release of fresh inventory into the second half.

Consolidated net income in the first half also slipped to P2 billion from P2.49 billion a year ago.

The company said the figure reflected the timing of project launches and revenue recognition, as well as a higher comparative base.

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CLI noted that its first-half 2025 results included P400 million in gains from the sale of an investment property. Excluding this disposal, it said core performance remained stable, with only a slight decline in net income due to the timing of new launches.

Cost of sales remained broadly flat, helping the company maintain a gross profit margin of 50 percent.

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Customer delinquency stood at 2.91 percent, while cancellations were equivalent to 3.54 percent of total receivables. Recurring income businesses provided another growth engine.

Leasing revenues surged 49 percent to P162 million, supported by newly operational commercial assets, a wider tenant base and the opening of The Paragon Davao Lifestyle Mall.

Hotel revenues likewise rose 15 percent to P231 million as occupancy improved and additional room inventory came online following the first-quarter opening of Radisson RED Cebu Mandaue.

“Our first-half results demonstrate the resilience of our core business,” CLI president and CEO Jose Franco Soberano said.

Soberano said the company remained confident that demand would carry into the second half as fresh inventory returns to the market.

“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,” he added. /pai