Real estate developer Cebu Landmasters Inc. (CLI) said it looks to roll out P36 billion-worth of projects this year as it capitalizes on what it sees as market opportunity in regional cities.
The amount will be spend on 10 to 12 new projects, according to Jose Franco Soberano, CLI chief operating officer, saying the company’s approach of focusing on regional centers keeps its business resilient compared to the competition.
These areas include Cagayan, Davao, Panglao, Ormoc, Bacolod and Iloilo, Soberano said at the company’s briefing on Tuesday.
CLI reported an 8 percent increase in attributable profit to P3 billion from P2.78 billion the prior year.
Revenue grew 4 percent to P19.5 billion from P18.8 billion in the prior year, fueled by solid performance in core business segments and the company’s growing market share as the real estate leader in the Visayas and Mindanao regions.
Soberano said CLI posted reservation sales of P17.3 billion, up 5 percent from P16.5 billion the prior year.
Recurring income grew 50 percent to P467 million, driven by the hospitality segment’s 74 percent jump in revenues to P241 million from P139 million, the company said.
Rental income rose 45 percent to P162 million from P112 million.
“CLI’s outstanding financial results in 2024 demonstrates its robust market position in the face of industry headwinds,” Soberano said
