CLI earmarks PHP 27.65B for expansion projects

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Cebu Landmasters, Inc. (CLI), a leading real estate developer in the Visayas and Mindanao (VisMin) region, reported significant growth and robust financial performance in 2023.

The company delivered over 16,200 housing units and earmarked PHP 27.65 billion for new pipeline projects in 2024.

CLI achieved a 29% year-on-year increase in consolidated net income, reaching PHP 4.64 billion, and a 20% growth in consolidated revenue, totaling PHP 18.8 billion. This performance underscores CLI’s market leadership and commitment to maximizing shareholder returns.

Since its initial public offering, CLI has distributed PHP 2.5 billion in dividends, with an additional PHP 0.18 per share declared this year.

In 2023, CLI launched ten projects valued at PHP 18.7 billion, including the Mirani brand aimed at the affordable market segment.

The company recorded PHP 20.6 billion in reservation sales, with a 93% sell-out rate across all projects.

CLI’s strategic investments in capital projects amounted to PHP 12.89 billion, focusing primarily on project development and land acquisition.

For 2024, CLI has allocated PHP 14.5 billion for capital expenditures and earmarked PHP 27.65 billion for projects in expansion areas, including Butuan, General Santos (Gensan), and its maiden project in Luzon.

CLI expanded its hospitality portfolio by opening three new hotels, bringing its total to over 1,500 room keys, with six more hotel projects underway.

The company’s follow-on offering of preferred shares in April raised over PHP 4.28 billion, exercising its oversubscription option to meet demand.

CLI also announced its first international partnership with Japanese conglomerate NTT through CLI NUD Ventures Inc.

CLI continues to prioritize community-building initiatives through the Cebu Landmasters Foundation, Inc. (CLFI).

The foundation provides socialized housing and integrated support to informal settlers, collaborates with local government units, and implements programs for farmer beneficiaries, focusing on livelihood opportunities and environmental activities.

“We will foster stronger partnerships with local communities and form more strategic alliances, creating mutually beneficial relationships that support sustainable growth and development across the country,” said Jose Soberano III, CLI Chairman and CEO.