REAL estate developer Cebu Landmasters Inc. (CLI) is set to launch 21 projects this year with a market value of P31.5 billion.
In a press conference Thursday, April 7, 2022, the Cebu-based publicly listed developer said the aggressive expansion this year is anchored “on the renewed optimism backed by strong fundamental and results” that the company reaped even at the height of the pandemic, said Franco Soberano, CLI’s executive vice president and chief operating officer.
These new projects in the pipeline for launching also include CLI’s new site in Palawan, Soberano said. CLI’s project in Palawan is a condominium development under the Casa Mira brand with 566 units worth P1.945 billion.
According to Grant Cheng, CLI’s chief finance officer, CLI started 2022 with a strong start. The company generated P4 billion in sales by selling out three towers of the first residential development in Davao Global Township in just four days last month.
“We are back on hitting the strides. We have big plans moving forward,” he said.
CLI ended 2021 with P2.61 billion net income after taxes (NIAT) up 42 percent from P1.85 billion a year ago.
Soberano said the company has surged past its 2019 pre-pandemic bottomline by 30 percent. He said the firm’s aggressive expansion in the Visayas and Mindanao propelled stronger sales last year. In 2019, CLI’s NIAT registered at P2 billion.
CLI’s topline grew by 35 percent to P11.16 billion from 2020’s P8.3 billion driven by significant construction accomplishments and robust sales.
Sales also hit a record P16.5 billion in 2021, 16 percent more than the previous year due to the solid housing demand in the Visayas and Mindanao particularly in the economic and mid-income segments. CLI’s 10 residential launches last year generated P18 billion in sales value.
Casa Mira, the firm’s economic housing brand, generated the highest sales performance, taking 41 percent of total sales in 2021.
Meanwhile, CLI’s leasing business, according to Soberano, has been “picking up and is an emerging part of the business.” Rentals increased by 35 percent year-on-year following the completion of and signing of new leases in Latitude Corporate Center in Cebu Business Park.
Soberano also anticipates a strong return of tourism this year that is timely with the completion and opening of some of its hotel properties beginning this year. CLI will have a total of 1,775 rooms by 2026.
At present, CLI has a total of 90 projects: 63 residential projects, six office projects, 10 hotels, eight mixed-use projects and three townships under its real estate portfolio.