LISTED-PROPERTY developer Cebu Landmasters Inc. (CLI) is pushing ahead with an ambitious P300-billion development pipeline and its planned expansion into Metro Manila despite regulatory bottlenecks, geopolitical uncertainties and broader economic headwinds, as the company prepares for a leadership transition aimed at sustaining long-term growth.
CLI executive chairman Jose Soberano III said the listed property developer has enough projects in its land bank to support growth over the next seven to eight years, giving the company confidence to focus on execution, project completion and strategic expansion rather than aggressive land acquisition.
“With the land banks that we have, that’s practically like P300 billion of turnaround projects waiting for us in the next seven to eight years,” Soberano said during a press conference.
The pipeline comes as CLI prepares to hand over day-to-day leadership to chief operating officer Jose Franco Soberano, who will assume the role of president and chief executive officer. At the same time, the elder Soberano remains actively involved as executive chairman.
The transition marks the next phase for the Visayas- and Mindanao-focused developer, which is now setting its sights on opportunities in Luzon, particularly Metro Manila and nearby growth areas.
Luzon expansion plans
Among the company’s priority projects are residential developments in Pasig City and Cavite, which management believes will strengthen CLI’s position as it evolves from a regional player into a national developer.
Franco Soberano said the expansion comes at a time when many developers are grappling with economic and regulatory challenges, but he sees the current environment as an opportunity rather than a deterrent.
“While others slow down, those who stay the course will be rewarded,” he said.
He noted that CLI’s existing project pipeline provides significant room for growth. The company has tripled its land bank in the past year, although the bulk of its developments remain concentrated in the Visayas and Mindanao markets where it has established a strong presence.
Regulatory delays
CLI is also maintaining a positive outlook despite delays affecting the issuance of Licenses to Sell (LTS), a concern that has been raised by developers across the country and blamed for slowing the launch of new housing projects.
Soberano acknowledged that new regulatory requirements and compliance processes have delayed some of the company’s planned launches.
“It delayed some of those targets that we have from our point of view,” he said.
However, he said the company expects government agencies and developers to adjust to the new processes, allowing approvals to accelerate in the coming months.
“Hopefully we could still manage and catch up because we still have six to seven months remaining for the year,” he added.
Rather than slowing down, CLI has shifted its focus toward selling existing inventory and completing projects already under construction.
Focus on project completion
The company is currently working to dispose of more than P20 billion worth of inventory while accelerating project completions tied to approximately P34 billion in unrecognized revenues.
According to management, completing projects remains a critical priority because it allows the company to recognize revenues and strengthen cash flow while fulfilling commitments to buyers.
Franco Soberano said all ongoing projects remain on schedule despite concerns over inflation, higher energy costs and geopolitical risks.
“We have not even slowed down any project. All projects are actually proceeding as fast as possible,” he said.
He cited the company’s low cancellation rate of three percent, delinquency rate of 2.6 percent, and the resale of 97 percent of cancelled units as indicators of sustained market demand.
The company also reported that 92 percent of its residential inventory has already been sold.
Recurring-income assets
Beyond residential developments, CLI is ramping up investments in recurring-income assets such as retail and hospitality projects.
The company said it currently has close to 80,000 square meters of gross leasable area either completed or under development and is targeting around 200,000 square meters within the next three years.
Several hospitality projects are likewise scheduled to open, including developments in Cebu and Davao, as CLI expands its presence in the tourism and leisure sectors.
Looking ahead, management said the company remains open to forming joint ventures with landowners and pursuing partnerships with both local and foreign firms as part of its growth strategy.
Soberano said such arrangements have played a key role in the company’s expansion in the past and could help accelerate future developments without requiring substantial upfront capital.
For Franco Soberano, the succession represents continuity rather than a dramatic shift in strategy.
“I don’t think a lot will change,” he said. “My chairman, my father, has taught me everything.”
He added that the company’s focus will remain on disciplined growth, operational excellence and delivering value to homebuyers while executing the next wave of projects in its P300-billion pipeline.
“There are seven to eight years of opportunity ahead,” he said. “We have all the land to make that happen already.” / KOC