A senior official of Aboitiz Power Corp. stated on Monday, September 20, 2021, that power…
As the VisMin economy improves, a Cebu developer increases investments.
CEBU CITY, Philippines – A Cebu-based real estate developer is planning to deepen its investments in the Visayas and Mindanao to help the sustained economic recovery in these regions, seeing post-pandemic full business potential.
Cebu Landmasters Inc. (CLI) chairman and CEO Jose Soberano III said at the company’s annual stockholders meeting on Tuesday that the business expects to break new performance records in 2022 with 21 pipeline projects totaling PHP31.5 billion.
“In 2022, CLI will continue to develop into new business areas, deepen our investments in the Visayas and Mindanao regions, and strengthen internal processes in order to meet its 20 percent growth guidance,” he said.
Despite mobility constraints and supply chain disruptions, Soberano claimed that they were able to complete projects quickly since construction operations remained active into 2021.
CLI’s growth trajectory in 2022 will be supported by a landbank of 103 hectares worth PHP12 billion, according to him.
Three townships that are currently being developed are among the key points of CLI’s expansion plans. The 22-hectare Davao Global Township; the 14.3-hectare Cagayan de Oro land bought from Xavier University and envisioned as a mixed-use university town; and the 100-hectare Minglanilla Techno Business Park in Cebu, which is envisioned as a regional growth center
CLI had already achieved an amazing revenue rise of 53% to PHP3.56 billion in the first quarter of 2022, up from PHP2.3 billion in the first quarter of 2021, with all business units performing admirably.
CLI’s consolidated revenues increased by 35% to PHP11.16 billion in 2021, while net income to shareholders increased by 42% to PHP2.61 billion.
According to a third-quarter 2021 Santos Knight Frank real estate market research, CLI maintained its leadership in Visayas and Mindanao with a 33-percent market share in the condominium segment, the largest, and a 26-percent market share in the subdivision segment.
“We are glad that CLI remained resilient and enhanced its presence in its communities despite the extended stay of Covid-19 followed by the devastation of Super Typhoon Odette in 2021,” Soberano stated.