Cebu Landmasters, Inc. (CLI) posted a record-high revenue of P19.5 billion in 2024, a strong performance despite persistent market headwinds.
The company also reported an 8 percent increase in net income attributable to parent shareholders and generated P4.3 billion in operating cash flows—further cementing its position as the leading real estate developer in the Visayas and Mindanao region.
The continued expansion and diversification of CLI have started to pay off. The company achieved a 94 percent sellout of its launched inventory and saw significant growth in its recurring income streams. Hospitality revenues surged 74 percent, while commercial leasing income rose 45 percent, reflecting strong market demand and execution.
Lat year, CLI launched the Wave Towers, a joint venture with Japan’s NTT, and CLI’s strategic expansion into Luzon to expand I its geographic reach.
To support its long-term growth and strengthen governance, CLI expanded its board of directors from nine to eleven members.
It appointed Eugene S. Acevedo, former president and chief executive officer of Rizal Commercial and Banking Corp., and Dr. Winston Padojinog, outgoing president of the University of Asia and the Pacific, as independent directors. Their appointments raise the number of independent directors to five, underscoring the company’s commitment to strong oversight, accountability, and strategic direction.
CLI continues to demonstrate resilience and growth as it builds on its leadership in VisMin while positioning itself for broader national and international expansion.
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