Listed property developer Cebu Landmasters, Inc. (CLI) reported consolidated revenues of ₱6 billion in the first quarter of 2026, up 20% from ₱5 billion in the same period last year, driven by construction progress across residential developments and sustained end-user demand across key Visayas and Mindanao markets.
The strong performance comes as the company ramps up initiatives to improve housing accessibility through deeper collaboration with banking partners, a strategy gaining traction through its multi-city CLI Home Fest series.
Cebu Landmasters said revenue from real estate sales reached ₱5.8 billion during the quarter, supported by percentage-of-completion milestones across ongoing projects that translated prior-period sales into recognized revenues.
“Our first-quarter results reflect the strength of our residential engine and the continued progress of our ongoing developments across VisMin,” said Jose Franco Soberano, senior executive vice president and chief operating officer of Cebu Landmasters.
Gross profit rose 29% to ₱3.1 billion, while gross profit margin improved to 51% from 48% a year earlier. Operating expenses increased 4%, while finance costs declined 5%.
CLI posted consolidated net income of ₱1 billion for the quarter, with net income attributable to parent shareholders reaching ₱881 million.
The company also noted that year-on-year earnings comparisons were affected by the absence of a one-time gain from the sale of an investment property recognized in the first quarter of 2025, which added ₱900 million to net income in the prior-year period.
Excluding the non-recurring item, Cebu Landmasters said its latest results reflect stronger underlying performance from its core residential business and expanding recurring income portfolio.
Banking partnerships boost home financing access
CLI Home Fest (IMAGE CREDIT: CLI)
A key driver of Cebu Landmasters’ sustained sales momentum has been its expanded engagement with financial institutions through CLI Home Fest, a property financing roadshow designed to connect prospective buyers directly with partner banks offering preferential home loan rates, tailored financing packages, and on-site processing.
The initiative began in April with events held in Cebu, Davao, and Dumaguete, and has since expanded to Ormoc, Cagayan de Oro, and Iloilo City through June.
CLI said the events have played a significant role in accelerating buyer conversion by reducing friction in the home loan approval process.
According to the company, more than ₱1 billion worth of home loans were underwritten and approved during one recent three-day Home Fest event alone, while reservation sales generated through similar activations have ranged from ₱500 million to ₱1 billion.
The model reflects a broader convergence between real estate and fintech-enabled housing finance, as developers increasingly leverage integrated banking partnerships and faster loan assessment systems to convert demand into completed sales.
By bringing financing partners directly into the property acquisition journey, CLI has improved both customer accessibility and sales efficiency at a time when digital-first mortgage solutions are reshaping the Philippine housing market.
Portfolio expansion supports Luzon push
Cebu Landmasters expands into Luzon with a 70-hectare Dasmariñas, Cavite site, laying the foundation for a flagship township set to deliver 6,000 homes.
CLI continues to expand its footprint, including its recently acquired Dasmariñas, Cavite property, a key step in its Luzon expansion strategy.
The acquisition supports the company’s push into affordable, masterplanned residential communities, aligning with management’s view that demand for value-oriented housing remains strong outside Metro Manila.
The developer said its land bank has tripled over the past two years, with 83% allocated to horizontal developments and Cebu accounting for 43% of total holdings.
Upcoming large-scale developments include the Liloan Township in Cebu and the Dasmariñas-Cavite township project, both positioned as mixed-use communities designed to support long-term residential demand.
As of end-2025, CLI’s property-for-sale portfolio comprised 107 projects covering 46,194 residential units with a total project value of ₱176 billion. The portfolio was 92% sold.
Recurring income gains traction
Replica of the iconic jeepney at the newly opened 144-room Radisson RED Cebu Mandaue at Astra Centre
CLI’s recurring income streams continued to expand during the quarter, underscoring the company’s strategy to diversify beyond residential sales.
Hotel revenues rose 14% to ₱119 million, while leasing revenues increased 14% to ₱60 million. Management fees climbed 19% to ₱31 million, reflecting the continued growth of CLI’s managed communities and operational assets.
The company also strengthened its hospitality platform with the opening of Radisson RED Cebu Mandaue, a 144-room hotel located within Astra Centre.
“Our recurring income portfolio continues to gain traction as more assets come into operation,” Soberano said.
The hotel opening forms part of CLI’s broader strategy to build a more diversified real estate business anchored on residential development, leasing, hospitality, and mixed-use estates.
Financial position remains solid
CLI marks another milestone in the company’s expanding recurring income portfolio with the launch of Radisson RED Cebu Mandaue
CLI said total assets reached ₱139.7 billion as of the end of the quarter, up from ₱134.2 billion at end-2025, while net debt-to-equity improved to 1.59x from 1.66x.
The improved leverage ratio reflects the company’s focus on prudent capital management while supporting project execution and expansion.
“CLI enters 2026 with a stable foundation and a clear focus on execution,” said chairman and chief executive officer Jose Soberano III.
As the company expands into new regional markets and deepens collaboration with financial institutions, CLI’s strategy highlights how property developers are increasingly integrating financing innovation to broaden homeownership access across the Philippines.
