Cebu Landmasters firms up entry in Luzon, sets mid-2024 launch
CEBU LANDMASTERS, Inc. (CLI) targets to start its first project in Luzon by the middle of next year, or just after marking its 20th year as a property developer largely focused on the Visayas and Mindanao markets.
“The plan begins as early as next year, with intentions to break ground in the country’s biggest island cluster by mid-2024. The much-anticipated move forms part of CLI’s strategy of driving the company’s capital, expanding its portfolio, and striving for sustainability,” the company said in a statement on Tuesday.
Previously, CLI said that it was aiming to first introduce its economic housing brand Casa Mira as part of the company’s Luzon expansion.
“Investing in real estate carries a significant societal responsibility as it directly impacts the challenge of bridging the housing gap and the overall development of our country,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said.
“As developers, our role’s impact to the community is huge, and I am here to serve however I can through Cebu Landmasters,” he added.
CLI, founded in 2003, recently celebrated its 20th anniversary. The company’s portfolio consists of residences, offices, hotels and resorts, mixed-use developments, and townships.
The real estate developer has over 100 real estate projects in various stages of development across 16 cities in Visayas and Mindanao.
“We value where we come from as we continue to grow and learn to give our best in serving our customers,” Mr. Soberano said in a recent company town hall meeting.
“Twenty years is the time when a person is starting to blossom but has yet to grow into full maturity. As CLI celebrates two decades of real estate development, I can say that we have only started to bring CLI to its future,” he added.
Meanwhile, CLI announced that Mr. Soberano won the Real Estate Personality of the Year at the 11th Annual PropertyGuru Philippines property awards.
The company’s first-half consolidated net income improved 32% to P2.1 billion versus the P1.6 billion posted a year ago.
On Tuesday, shares of CLI at the local bourse fell one centavo or 0.38% to close at P2.63 apiece. — Revin Mikhael D. Ochave
