Cebu Landmasters Inc. (CLI), a leading regional property developer, has announced a P15 billion capital expenditure (capex) budget for 2025 aimed at supporting ongoing projects and expanding its landbank. The company, which has a number of new developments lined up, including in Cagayan de Oro and areas surrounding Manila, Batangas, and Cavite, is ramping up its project launches in response to strong market demand. CLI chief finance officer Grant Cheng noted the focus on developing recently launched projects as well as acquiring land for future growth.
Among the highlights is the Manresa Town project in Cagayan de Oro which spans over 14 hectares featuring residential, commercial, and lifestyle spaces. The first residential condominium, One Manresa Place, launched late last year, will include three towers with 940 units. In 2024, CLI introduced P8.2 billion worth of projects, with 1,664 residential units already 89 percent sold-out, underscoring the strong market appetite.
To finance its growth, CLI also recently listed P5 billion in sustainability-linked bonds at the Philippine Dealing and Exchange Corp. The bonds, part of the company’s P15 billion shelf-registration program, received strong investor interest. CLI chairman and CEO, Jose Soberano III, said the bonds are tied to the company’s goal of building 16,000 affordable homes by 2028, a target that would more than double the company’s achievements the past forty years. This makes CLI the first Philippine real estate developer to use affordable housing as the success metric for its sustainability-linked bonds, a financial instrument that ties interest rates to environmental, social, and governance (ESG) targets.
The bonds were three times oversubscribed, reflecting strong investor confidence in CLI’s vision and growth strategy.
