Leading developer in VisMin Cebu Landmasters, Inc. (CLI) posted consolidated revenues of ₱6 billion in the first quarter of 2026, up 20% from ₱5 billion in the same period last year, driven by stronger residential revenue recognition from construction progress across ongoing projects.
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| The newly opened 144-room Radisson RED Cebu Mandaue at Astra Centre, Cebu Landmasters’ mixed use development along Mandaue City’s A.S. Fortuna Street, marks another milestone in the company’s expanding recurring income portfolio, reinforcing its growing hospitality segment alongside increasing leasing and property management revenues. |
“Our first-quarter results reflect the strength of our residential engine and the continued progress of our ongoing developments across VisMin. We remain focused on disciplined execution and timely delivery, especially in markets where demand continues to be real and end-user driven,” CLI Senior Executive Vice President & Chief Operating Officer Jose Franco Soberano said.
Revenue from sale of real estates reached ₱5.8 billion, supported by percentage-of-completion accomplishments across ongoing residential projects, allowing prior-period sales to translate into recognized revenues.
CLI’s gross profit rose 29% to ₱3.1 billion, while gross profit margin improved to 51% from 48% in the same period last year. Operating expenses increased modestly by 4%, while finance costs declined 5% year-on-year.
The company posted a consolidated net income of ₱1 billion in 1Q2026, while net income attributable to parent shareholders reached ₱881 million.
The year on year earnings comparison reflects the absence of a one-time gain from the sale of an investment property recognized in 1Q2025, which increased net income after taxes by ₱0.9 billion in the previous year. Excluding this non-recurring item, CLI’s first-quarter performance reflects stronger underlying results from its core residential business and expanding recurring income portfolio.
As of end-2025, CLI’s property-for-sale portfolio comprised 107 projects, with 46,194 residential units and a total project value of ₱176.0 billion. The portfolio was 92% sold, reflecting CLI’s track record of strong project execution and fast market absorption across completed, ongoing, and recently launched developments.
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| The newly opened 144-room Radisson RED Cebu Mandaue at Astra Centre, Cebu Landmasters’ mixed use development along Mandaue City’s A.S. Fortuna Street, marks another milestone in the company’s expanding recurring income portfolio, reinforcing its growing hospitality segment alongside increasing leasing and property management revenues. |
Recurring Income Streams Gain Ground
Recurring income streams continued to expand in the first quarter, with hotel revenues growing 14% to ₱119 million and leasing revenues also increasing 14% to ₱60 million. Management fees rose 19% to ₱31 million, reflecting the continued growth of CLI’s managed communities and operating assets.
CLI further strengthened its hospitality platform with the opening of Radisson RED Cebu Mandaue, a 144-room hotel located within Astra Centre in Mandaue City, Cebu. The new hotel adds to CLI’s growing portfolio of recurring income assets and supports the company’s strategy to build a more diversified real estate business anchored on residential development, leasing, hospitality, and mixed-use estates.
“Our recurring income portfolio continues to gain traction as more assets come into operation. The opening of Radisson RED Cebu Mandaue is another step in building a stronger hospitality segment that complements our core residential business,” Soberano said.
Stable Financial Position to Support Growth
CLI also maintained a solid balance sheet, with total assets reaching ₱ 139.7 billion from ₱ 134.2 billion as of end-2025, while net debt-to-equity improving to 1.59x from 1.66x. This reflects the company’s continued focus on prudent capital management while supporting project execution and expansion.
CLI Chairman and Chief Executive Officer Jose Soberano III highlighted, “CLI enters 2026 with a stable foundation and a clear focus on execution. As market conditions evolve, we will remain disciplined and agile in managing the business, while continuing to serve real housing demand in the communities where we operate.”
About Cebu Landmasters, Inc.
Cebu Landmasters is a leading real estate developer in the Visayas and Mindanao with more than 132 projects in 18 key cities across the region ranging from residential, commercial, hospitality, mixed-use and township developments. The company is expanding its footprint in the region and is now entering Luzon.
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