Cebu Landmasters Inc. (CLI) is heading into the second half of 2026 with a replenished project pipeline and growing recurring income streams, after the timing of new residential launches kept first-half results broadly flat.
The Visayas and Mindanao property developer posted revenues of P10.2 billion in the first six months, down just 1 percent year-on-year, while real estate sales slipped 2 percent to P9.7 billion. The softer numbers largely reflected delays in Licenses to Sell approvals, which pushed several planned launches and fresh inventory into the second half.
Underlying demand, however, remained resilient. CLI’s property-for-sale portfolio reached 107 projects comprising 45,507 residential units valued at P176.1 billion, with sell-through improving to 95 percent from 92 percent in the previous quarter.
Net income stood at P2 billion, although the figure was affected by the timing of project launches and a higher year-earlier base that included a P400-million gain from an investment property sale. Excluding that disposal, CLI said core performance remained broadly stable.
More tellingly, the company’s recurring businesses are gaining traction. Leasing revenue jumped 49 percent to P162 million, fueled by new commercial assets and the opening of The Paragon Davao Lifestyle Mall. Hotel revenue rose 15 percent to P231 million following the opening of Radisson RED Cebu Mandaue.
CLI now has more than P25 billion worth of launches lined up for the next six months, covering more than 11 projects and 5,600 units in Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao. The pipeline also includes the company’s first project in Luzon, in Pasig City.
“Our first half was largely a timing shift,” President and CEO Jose Franco Soberano said, pointing to the return of fresh inventory as a catalyst for growth.
The strategy is becoming broader than residential property. CLI is adding estates, hotels, commercial assets, and eventually a Luzon footprint, giving it more ways to capture demand while reducing reliance on individual project launches.
With a 50 percent gross margin and customer delinquency at just 2.91 percent, the company appears to have entered the second half with both inventory and financial room to execute.
