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VISAYAS-MINDANAO leading developer Cebu Landmasters Inc. (CLI) capped 2024 with record consolidated revenues of P19.5 billion, a four-percent growth 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 VisMin region.
With nearly 90 percent of units sold, One Manresa Place signals high investor confidence in Cebu Landmasters Inc. Manresa Town in Cagayan de Oro, strategically integrated with Xavier University’s ‘Campus of the Future’ to drive long-term value and sustained demand. CLI IMAGE
The company's property sales showed steady growth with a five percent-increase to P17.3 billion from P16.5 billion, showing the company's continued capability to grow its topline.
On the other hand, recurring income grew by 50 percent to P467 million, driven by the hospitality segment's 74-percent jump in revenues from P139 million to P241 million.
CLI's outstanding financial results in 2024 demonstrates its robust market position in the face of industry headwinds.
Net income attributable to parent shareholders improved by eight percent to over P3.0 billion, while the board of directors approved a cash dividend of P0.18 per share, distributed on April 16, 2025.
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Since its initial public offering, CLI has consistently enhanced shareholder returns, yielding a 15-percent compounded annual growth rate in dividend distributions, reflecting management's unwavering commitment to creating sustainable value for investors while funding strategic expansion initiatives.
"CLI continues to invest in projects that deliver quality and value for money, meeting the changing needs of our markets," CLI Chairman and CEO Jose Soberano III said.
"Our foundation remains strong and we're well-positioned for continued growth. Our proven track record, strategic pipeline, and deep roots in VisMin power our momentum as we expand across the country," he added.
Ongoing and new projects remained in high demand throughout the year, reaching a strong 92-percent sell-out rate largely driven by CLI's mid-market and economic brands.
Casa Mira (33 percent) and the Garden Series (54 percent) together accounted for 87 percent of total residential sales.
Following its plan to build stable long-term income, CLI opened its fourth hotel, Citadines Bacolod City.
With six more hotels being developed, the company aims to expand its hospitality portfolio to 10 hotels with over 1,900 rooms, taking advantage of the region's growing tourism industry.
Rental income also showed significant growth, increasing by 45 percent to P162 million from P112 million last year.
This growth is attributed to attractive leasing spaces that have drawn global brands such as Seattle's Best Coffee and Dean and Deluca.
The company's continued investment in recurring income projects sets forth a foundation for its eventual Real Estate Investment Trust or REIT offering that will unlock enhanced value from its growing hotel and rental properties.
CLI's industry leadership earned multiple accolades in 2024, including Sustainability Rising Star at the ACES Awards, a second consecutive two-Golden Arrow recognition for governance excellence, and its seventh year among BCI Asia's Top 10 Developers.
The company also received the Best Developer in Mindanao award from PropertyGuru Philippines and achieved Great Place to Work certification, demonstrating its commitment to workplace excellence.
Further, the 2024 Colliers Real Estate Market Study revealed that CLI maintained its position as the top developer in Visayas and Mindanao, both in the horizontal and vertical markets.
CLI entered 2025 with optimism, backed by an outstanding project pipeline and consistent market demand in its key regions.
The successful launch of One Manresa Place in Cagayan de Oro, which generated P4 billion in sales within just two days, signals continued appetite for CLI's offerings.
"Encouraged by our 2024 turnout, CLI is set to roll out 10 to 12 new projects this year worth P36 billion worth of sales value, having a mix of ongoing developments and new ventures in emerging markets and locations. These launches aim to build on CLI's regional momentum and capture opportunities in underserved markets. [The year] 2025 is a critical stage as we move into bigger-scale residential and township developments, and ramp up our recurring income projects," Soberano stated.
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