Cebu City, Philippines—Homegrown real estate developer Cebu Landmasters, Inc. (CLI) sold over 5,000 units with reservation sales value of P14.25 billion in 2020 and CLI Chairmain, president, and CEO Jose Soberano III announced on Thursday, May 27, 2021, during a virtual annual stockholders meeting, that CLI aims to buck industry trends once again in 2021 with 25 projects in the pipeline.
In addition to the P12 billion reserve for its capital expenditures for the year, 15 of the 25 projects will target the economic and mid-market residential segments in the region and are collectively valued at P19 billion.
As the leading developer in the Visayas and Mindanao regions, CLI is eyeing a 15 percent to 20 percent increase in revenues from the P8.3 billion in consolidated revenues it registered in 2020.
According to Jose Soberano III, its 2021 projects will expand CLI’s VisMin footprint to the cities of Ormoc, Bohol, Bacolod, Dumaguete, Iloilo and other key cities in the region while further strengthening its market share in Cebu and Cagayan de Oro, where it has already established a strong presence.
“2020 was a very challenging year. But we at CLI chose to look at opportunities and focus on the brighter side when we could.” Jose Soberano III said.
During the COVID-19 pandemic, the company accelerated on digitalization with virtual tours, an automated chatbot system, and a masters portal app, allowing more home buyers and investors to continue transactions without leaving their homes.
CLI Executive Vice-President and Chief Operating Officer Jose Franco B. Soberano shared that its online platforms and flexible payment terms were largely responsible for the company’s record reservation sales of P14.25 billion in 2020.
As of Q1 2021, CLI posted a 25 percent year-on-year increase in net income attributable to CLI shareholders from P572 million to P714 million.
As CLI prepares to further strengthen its capital base, the Company applied to increase its authorized capital stock to P10 billion, and subsequently will issue a 123% stock dividend.
Ming-Mori Minglanilla Reclamation Project
As soon as it gets the approval to proceed from the Philippine Reclamation Authority (PRA), one of CLI’s target goals by the fourth quarter of this year is to start construction of the 100-hectare Ming-Mori Minglanilla Reclamation Project in Minglanilla town, southern Cebu.
The P10-billion project is seen to create a township that will bring new economic opportunities to the community and to Visayas.
“This development will be a real addition to the Cebu landscape. It will be partly industrial and will help expand supply in MEPZ (Mactan Export Processing Zone), which is now full up,” Jose Soberano III said.
The Ming-Mori Minglanilla Reclamation Project will include a port, a mixed-use development that will include a Techno Business park, and mid-rise condominium buildings, which are all together seen to generate over 75,000 jobs in the municipality.
The Soberano family-led company maintains its top rank in Visayas and Mindanao for the second year.
This was based on a recent study by Santos Knight Frank (SKF), which noted that CLI had the largest market share among real estate firms providing condominium projects and subdivisions outside Luzon.