Cebu Landmasters, Inc. (CLI) is gearing up to launch more than 11 projects valued at P25 billion over the next six months, aiming to replenish its residential inventory after hitting a 95% sell-through rate across its property-for-sale portfolio in the first half of 2026.
The upcoming pipeline comprises over 5,600 units spanning key markets in Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao. The expansion also marks the Visayas-Mindanao developer’s entry into Luzon with its debut project in Pasig City, alongside the rollout of two new master-planned estates.
The company maintained steady operational results in H1 2026 despite the timing shift of new project launches to the second half due to pending License to Sell (LTS) approvals. Total revenues reached P10.2 billion—down 1% year-on-year—while real estate sales stood at P9.7 billion, reflecting a 2% dip.
Solid end-user demand cleared out existing stock, pushing the company’s sell-through rate to 95% from 92% in the previous quarter. CLI’s overall portfolio comprises 107 projects and 45,507 residential units valued at P176.1 billion.
“Our first-half results demonstrate the resilience of our core business. Despite the timing shift in new launches, revenues remained broadly stable, margins stayed healthy, and recurring income continued to grow. With limited fresh inventory, our teams sustained sales across our existing portfolio, reflecting continued demand for our residential projects. This gives us confidence as we bring more projects to market in the second half,” said Jose Franco Soberano, President and CEO of Cebu Landmasters.
CLI reported a consolidated net income of P2 billion for the period. While core operational performance remained stable, net income reflected the timing of revenue recognition and a high base effect from H1 2025, which included a P0.4-billion gain from an investment property disposal.
Cost discipline kept the cost of sales flat year-on-year, allowing CLI to hold its gross profit margin at 50%. Customer credit quality stayed healthy, with delinquency at 2.91% and cancellations at 3.54% of total receivables.
Concurrently, CLI’s strategy to expand its recurring income streams delivered significant top-line growth across its hospitality and commercial leasing divisions:
- Leasing revenues jumped 49% year-on-year to P162 million, fueled by an expanding tenant roster, newly operational commercial assets, and the launch of The Paragon Davao Lifestyle Mall.
- Hotel revenues climbed 15% year-on-year to P231 million, driven by stronger occupancy rates and new room inventory following the Q1 opening of Radisson RED Cebu Mandaue.
Total assets grew 6% to P141.6 billion from P134.2 billion at year-end 2025 as CLI accelerated capital deployment ahead of its upcoming launches. Net debt-to-equity edged up to 1.72x from 1.66x over the same period to finance land banking and construction.
The momentum coincides with a leadership transition finalized in June, where founder Jose Soberano III stepped into the role of Executive Chairman, and Jose Franco Soberano assumed the positions of President and CEO.
“We see the first half largely as a timing shift. As approvals come through and fresh inventory returns to the market, we are well positioned to carry this strong underlying demand into our next phase of growth,” Soberano said.
“Beyond replenishing our residential pipeline, we are preparing to launch two new estates, deepen our presence across our core VisMin markets, and take our first steps into Luzon. Together with our expanding recurring income businesses, these give us multiple platforms to sustain CLI’s growth over the longer term,” Soberano added.
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