“CLI’s 14.1B revenues reflect a resilient performance. While several macroeconomic factors are affecting the industry, CLI’s leadership in the VisMin area gives it a position of strength. Driven by end-user demand and no oversupply conditions persisting, CLI’s residential inventory is at 94% sold-out across all projects and at a low delinquency rate of 3%,” said Jose Franco Soberano, President and CEO of Cebu Landmasters. “For the months of September and October, CLI has launched five new projects, strongly driven by the OFW and end-user market in VisMin. CLI remains positive about its plans for the remainder of the year as we launch four more residential projects, advance project completions, and drive further growth across our mall, office, and hospitality operations.”
Cebu Landmasters, Inc. (CLI), the leading residential developer in the Visayas and Mindanao, recorded P14.1 billion in revenues in the first nine months of 2026, only a 2% decline from the same period last year amid current market conditions. Consolidated net income dipped 15% to P2.64 billion despite flat operating expenses, due to a higher gain from investment property sales in the prior year. Net income attributable to the parent stood at P1.79 billion.
Real estate sales accounted for P13.40 billion of total revenues. CLI’s established presence in the Visayas and Mindanao supported continued sales from existing projects as well as new launches, while sustained construction across ongoing projects supported revenue recognition.
Hotel, mall and office revenues increased by a combined 26% to P593 million. Mall and office revenues rose 35% to P228 million, while hotel revenues grew 22% to P365 million. Recent additions to CLI’s commercial and hospitality portfolio include The Paragon Davao Lifestyle Mall, Radisson RED Cebu Mandaue and Astra Lifestyle Centre. These properties are expected to broaden the company’s recurring income base over time, complementing its residential development business.
Gross profit reached P7.12 billion, with gross profit margin improving to 51% from 49% a year earlier. Operating expenses remained flat at P2.86 billion as management maintained cost discipline.
CLI’s total assets reached P146.70 billion as of September 2026, up 9% from P134.16 billion at year-end 2025, reflecting continued investment in its development portfolio. Total equity increased 10% to P38.36 billion.
Residential portfolio maintains high sell-through
Property sales reached P16.2 billion in the first nine months of 2026 despite the absence of new residential launches in the first half. Continued sales performance reflected CLI’s established market presence and the trust it has built with buyers across the Visayas and Mindanao. The company’s overall property-for-sale portfolio stood at 94% sell-through at the end of September.
As of September 2026, CLI launched 3 new developments: Costa Mira Beachtown Mactan Tower 4, Alto Ranudo, and Casa Mira Prime Ormoc Phase 1. To date, these projects achieved 56% sell-through amounting to P4.4 billion in sales value, largely driven by strong OFW and end-user demand.
Two more projects launched towards the end of October, Mirani Homes Bogo and The West Village at DGT, bringing the total of recent projects to 5. With a combined project value of P11.08 billion, these developments are expected to provide fresh supply in the VisMin market. The early take-up of new launches provides further evidence of the continued market traction in our regions.
At Casa Mira Prime Ormoc, Overseas Filipino Workers (OFWs) account for approximately 50% of buyers. Many of the buyers come from outside Ormoc, including nearby provinces, with families of seafarers representing a notable segment of the market. This buyer profile offers a more specific picture of the demand for housing in Ormoc and the surrounding areas.
“Families are making more deliberate homebuying decisions in this economic environment, making it important for us to build homes that respond to their needs. The encouraging response to our recent launches affirms the continued demand for well-planned homes across Visayas and Mindanao. End users and OFWs remain an important market, giving us confidence to continue bringing new homes to communities where we see sustained interest,” said Jose Franco Soberano, President and CEO of Cebu Landmasters.
Sustained buyer demand guides disciplined project launches
CLI is set to launch four more residential projects before year-end, building on five launches to date. These projects will be located in key Visayas and Mindanao growth areas—Cagayan de Oro, Butuan and Cebu. Future launches will be guided by buyer needs and demand in CLI’s priority markets.
CLI is preparing additional residential launches across VisMin, supported by a 260-hectare landbank that provides room for future residential communities and master-planned developments. Alongside its residential business, the company continues to expand its commercial and hospitality portfolio, broadening its presence across growing property segments.
“We enter our next phase of growth from a position of strength in VisMin. The current economic environment calls for discipline in terms of timing of launches and the types of developments we bring to market. Our immediate priority is to complete our projects and deliver the homes we have promised our buyers. While continuing to build on our VisMin leadership by delivering value-for-money homes, developing integrated estates, and expanding our leasing and hospitality businesses to create a more balanced revenue base with a growing contribution from recurring income,” Soberano added.
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