CEBU Landmasters Inc. (CLI) reported a 9.2- percent increase in consolidated revenues to P14.1 billion in the first nine months of 2024 from P12.9 billion in the same period in 2023.
Net income to the parent company rose by 7 percent, reaching P2.3 billion, compared to P2.2 billion in the same period last year, supported by growth in both core business and recurring income streams, CLI said in a statement.
CLI added property sales grew by 8.7 percent to P13.8 billion, driven by strong demand across residential, mid-market, and economic housing segments, along with commercial lot sales.
CLI’s hospitality revenues climbed 52 percent year-on-year to P149 million, driven by the opening of three new properties—Citadines Bacolod City, lyf Cebu City, and The Pad Co-Living—which added 617 rooms to CLI’s hospitality portfolio.
Leasing revenues also increased 47 percent to P144 million, with 9,219 square meters of new leasable space offered.