Cebu Landmasters Leads Vis-Min Development
With 21 pipeline projects worth Php 31.5 billion, Cebu Landmasters, Inc. (CLI), the leading real-estate developer in VisMin, is expected to achieve new performance records in 2022, the company announced during its 2022 Annual Stockholders Meeting held today.
Photo Insert: Cebu Landmasters, Inc. leadership at the 2022 Annual Stockholders Meeting
CLI's consolidated revenues increased by 35% to Php 11.16 billion in 2021, while net income to CLI shareholders increased by 42% to Php 2.61 billion, outperforming pre-pandemic performance (2019) by 30%.
Even though the epidemic lingered, causing regulatory and legal uncertainty, CLI's performance was helped by a record-breaking Php 16.5 billion in housing unit sales, representing a 16 percent year-on-year increase.
Meanwhile, unrecognized revenues climbed by 23% to Php 25 billion, giving VisMin a clear and solid picture of its financial prospects in the next few years.
CLI Chairman and CEO Jose R. Soberano III commented: “Notwithstanding mobility restrictions and supply chain interruptions, our team achieved quick project turnarounds. Our construction activities stayed in full swing throughout 2021. Our track record for delivering projects on time and our responsiveness to customer needs, thanks to digital innovations, allowed us to keep them satisfied and ready to endorse us to others.”
Soberano added that CLI’s growth trajectory in 2022 will be supported by a landbank of 103 hectares valued at Php 12 billion. As in 2021, “CLI will continue in 2022 to expand to new business segments, deepen our investments in the Visayas and Mindanao regions while strengthening internal systems to achieve its growth guidance of 20%.”
Three townships are currently being developed as part of CLI's expansion plans. The 22-hectare Davao Global Township (DGT), which just sold out the first three buildings of its first residential project, The East Village at DGT, in four days, is on its way to establishing a critical mass of residents.
As a result, the fourth tower will be completed soon. In 2022, DGT will begin selling lots. The 14.3-hectare property in Cagayan de Oro purchased from Xavier University and envisioned as a mixed-use university town is also in the planning stages. Work on the 100-hectare Minglanilla Techno Business Park in Cebu, which is envisioned as a regional growth center, has also begun.
CLI already had amazing revenue growth of 53% to Php 3.56 billion in Q1 2022, up from Php 2.3 billion in Q1 2021, with all business areas doing admirably. In addition, sales increased by 36% to Php 4.5 billion in Q1 2021, compared to Php 3.3 billion in Q1 2021.
According to a Q3 2021 Santos Knight Frank real estate market research, CLI maintained its leadership in Visayas and Mindanao with a 33 percent market share in the condominium segment, the largest, and a 26 percent market share in the subdivision segment.
Soberano further disclosed: “We are pleased that despite the extended stay of COVID-19 followed by the devastation of Super Typhoon Odette in 2021, CLI remained resilient and further strengthened its presence in its communities.”
CLI's growth strategies for the future include implementing a five-pillar sustainability framework that focuses on creating sustainable spaces, supporting local markets, conserving and managing resources and environmental impacts, engaging and investing in our communities, and achieving organizational efficiency and good governance.