Listed developer Cebu Landmasters Inc. (CLI) said it remains upbeat about the prospects of Visayas and Mindanao property market this year where it has established a strong presence.
In an email interview on Tuesday, Jose Francis Soberano, CLI director, senior executive vice president and chief operating officer, said economic resilience, continued overseas remittances and infrastructure upgrades are sustaining robust housing demand in VisMin.
“We see enduring growth in the affordable and mid-income residential segments, with increasing traction in hospitality, mixed-use, and estate developments as secondary cities continue to urbanize,” Soberano said in an email interview.
“Our success in VisMin is rooted in regional market understanding, agile project execution, and community-centered planning. These strengths will guide our Luzon strategy, complemented by strategic partnerships and adaptive product offerings. Our established brand equity—built on delivering strong value-for-money—is expected to resonate with emerging urban markets in Luzon,” the company said in a statement.
This observation was shared by property consultancy Colliers which said in its first quarter report the residential market outside of Metro Manila records strong take-up, especially in key localities in Visayas and Mindanao such as Cebu, Bacolod, Iloilo and Davao.
“Several developers are aggressively implementing their geographic diversification, and we believe that this should result in a more diverse Philippine property market, ultimately benefiting investors and end-users,” Colliers said in the report dated May 14, 2025.
Colliers said it expects to developers will continue to venture into horizontal residential projects outside of Metro Manila where demand comes from end-users.
Colliers data showed that horizontal units in key provinces in CALABARZON, Central Luzon, Central Visayas, Western Visayas, and Davao region have better absorption with remaining inventory life only ranging between one and three years.
Luzon expansion
Soberano said CLI will pursue its strategic expansion into Luzon and the National Capital Region.
Soberano said it is sticking to its target of deploying P36 billion for new project launches between 2025 and 2026.
For 2025, CLI is targeting P16 billion in capital expenditures.
Soberano said CLI has launched One Manresa Place in Cagayan de Oro in the first quarter, with 11 more projects in the immediate pipeline.
These upcoming launches will include a mix of new developments in emerging locations and follow-through phases of existing communities, he said.
According to Soberano, the portfolio will be diversified—comprising of mid- to high-rise residential towers, subdivisions, townships, and mixed-use developments.
“The majority will still be in our core Cebu market, with three projects in high-growth areas in Mindanao, one in the Visayas, and another in Luzon,” he said.
The P36-billion capital expenditure will be primarily allocated to land development, vertical construction, project permitting, and initial marketing efforts.
A portion, however, will support feasibility studies and design development for future pipeline projects.
While CLI has secured the land for the projects in the said pipeline, Soberano said the company will continue to maintain its landbank portfolio at a level that will ensure sustainable growth.
For the expansion, Soberano said it has recently acquired a property in Metro Manila, signaling its strategic entry into the Luzon market.
This Metro Manila acquisition will be developed into a mixed-use project and is targeted to be launched in 2026.
The company said it is also exploring opportunities to develop properties into horizontal and mixed-use residential communities in the next-wave cities/regions such as Cavite, Batangas, Laguna in the south and Bulacan and Pampanga up north – “which is aligned with our long-term growth strategy.”
But for CLI, entering Luzon presents new challenges including intensified competition, regulatory nuances, and differing consumer preferences. “Nonetheless, our consistent performance and disciplined approach position us well to meet these head-on,” CLI said.
The company said it is strategically penetrating high-potential markets across Luzon and the National Capital Region while simultaneously consolidating its dominant market position in underserved regional centers.
“We’re building more than just developments, we’re shaping communities in VisMin and soon, Luzon.
We benefit from our deep market knowledge and operational agility,” said CLI Chairman and CEO Jose R. Soberano III in a statement. “Demand remains resilient in the VisMin region and Cebu Landmasters continues to offer value-for-money products well-suited to the needs of the homebuyers.”
Strong start
CLI posted a strong start to 2025, with a consolidated net income rising by 12 percent year-on-year to P1.32 billion in the first quarter of this year fro P1.18 billion in the same period in 2024.
The company in a regulatory filing said this was driven by geographic expansion, steady project execution, and sustained demand across key Visayas and Mindanao markets.
Consolidated revenues grew by 4 percent to P6.51 billion in the first quarter in 2024 from P6.26 billion in the same period last year, with property sales accounting for 97 percent of total revenues.
Real estate sales increased to P6.32 billion, supported by ongoing construction progress and resilient demand for residential lots. The company did not provide the comparative figure.
Gross profit for the quarter of 2025 reached P3.53 billion, up 13 percent from P3.13 billion in the same period last year, translating to a 54 percent gross profit margin—an improvement from 50 percent in the first quarter of 2024. Attributable net income to the parent stood at P995 million.
“Our strong start reflects the depth of demand in the regions we serve and the strength of our on-the-ground execution. 2025 will be about scaling our impact where it matters most,” Soberano III said.
Reservation sales rose 18.87 percent from P5.3 billion to P6.3 billion.
The company launched P6 billion worth of new residential inventory during the quarter, with projects in Cebu and Cagayan de Oro contributing significantly to reservation sales.
CLI cited strong take-up driven by housing demand in the VisMin region.
The company in its first quarter 2025 report said I has projects in 17 key areas in Visayas and Mindanao.
Founded in 2003, CLI is a diversified its product portfolio to residential, office, hotel retail and now estates, the company’s website says.
The company said its residential developments include Asia Premier Residences, Base Line Residences, and 38 Park Avenue for the high-end vertical projects; Midori Residences, MesaVerte Garden Residences CDO, MesaTierra Garden Residences Davao, and MesaVirre Garden Residences Bacolod for the mid-market vertical projects; and Casa Mira Towers Labangon, Casa Mira Towers Guadalupe, Casa Mira Mandaue in Cebu, and Casa Mira Towers CDO for the economic vertical projects.
For the horizontal projects, these developments include San Jose Maria Villages, Midori Plains, and Velmiro Greens Bohol for the mid-market; Casa Mira South in Cebu and Casa Mira Coast in Dumaguete for the economic market; and Villa Casita Bogo, Villa Casita Balamban, and Guadalupe Pinamalayan Socialized Housing Project for the socialized housing segment.
As of Dec.31, 2024, CLI completed 49 projects and has 48 ongoing projects in various stages of construction, the website says.
