CEBU Landmasters Inc. (CLI) is looking to deepen its investments in the Visayas and Mindanao to support the continued economic recovery in these regions.
CLI chairman and chief executive officer Jose Soberano III made the pronouncement on Tuesday during the company’s annual stockholders meeting.
“CLI will continue in 2022 to expand to new business segments, deepen our investments in the Visayas and Mindanao regions while strengthening internal systems to achieve its growth guidance of 20 percent,” Soberano said.
The firm projected to set new performance records in 2022 with 21 pipeline projects worth P31.5 billion.
Notwithstanding mobility restrictions and supply chain interruptions, the official said they were able to achieve quick project turnarounds.
He further said their construction activities stayed in full swing throughout 2021.
Soberano added that CLI’s growth trajectory in 2022 will be supported by a land bank of 103 hectares valued at P12 billion.
Among the focal points of CLI’s expansion plans are three townships now under development. These are the 22-hectare Davao Global Township; 14.3-hectare property in Cagayan de Oro City acquired from Xavier University and envisioned to be a mixed-use university town; and the 100-hectare Minglanilla Techno Business Park in Cebu which is envisioned to be a regional growth center.
As of first quarter of 2022, CLI already posted an outstanding revenue growth of 53 percent to P3.56 billion from P2.3 billion in Q1 2021 with all business units registering stellar performance. In 2021, CLI’s consolidated revenues grew by 35 percent to P11.16 billion with net income to shareholders increasing by 42 percent to P2.61 billion.
CLI sustained its leadership in Visayas and Mindanao with a 33 percent market share in the condominium segment, the largest, and a 26 percent share in the subdivision segment, according to a Q3 2021 Santos Knight Frank real estate market study.
“We are pleased that despite the extended stay of Covid-19 followed by the devastation of super typhoon Odette in 2021, CLI remained resilient and further strengthened its presence in its communities,” Soberano said.
June 07, 2022
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