Leading developer in VisMin Cebu Landmasters, Inc. (CLI) reported continued growth as it delivered 16,282 housing units to the market as of 2023.
In maintaining its growth and profitability, CLI has consistently delivered value to its shareholders, distributing P2.5 billion in dividends since its initial public offering with an additional P0.18 per share declared and paid this year.
“Over the years, CLI emerged as a resilient and agile organization, able to surpass crises and headwinds,” CLI chairman and CEO Jose Soberano III said during the company’s annual stockholders meeting on June 4 held in Citadines Cebu City.
“Starting with one housing project in Balamban, Cebu, CLI now has 119 projects spread all over the Philippines by the end of 2023, while our net income grew 24 percent compounded annual growth rate in seven years from P778 million to P3.58 billion,” Soberano said.
CLI continues its market leadership in 2023 with the launch of 10 projects valued at P18.7 billion, including the newly introduced Mirani brand with housing units priced from P1.9 million to P2.9 million for the affordable market segment. The company posted stellar sales performance reaching P20.6 billion in reservation sales, with a 93 percent sell-out status of all projects.
The listed company also expanded its hospitality portfolio by opening three hotels and now boasts more than 1,500 room keys with six more hotel projects underway. This committed investment in our tourism industry is poised to drive future revenue growth and improve our cash flow profile, all the while enhancing CLI’s existing projects where value synergies are created.
The company also announced its first international partnership with the Japanese mega conglomerate NTT, through CLI NUD Ventures Inc., a testament to how CLI is meeting international standards in its developments.
A strong priority of CLI remains to be its commitment to community-building initiatives through the Cebu Landmasters Foundation, Inc. (CLFI). Through CLFI, the company provides socialized housing and integrated support to informal settlers in collaboration with local government units, demonstrating its dedication to addressing housing backlog and uplifting the lives of partner communities. CLFI also mounted programs for farmer beneficiaries, providing them with livelihood opportunities and partnering with them in environmental activities.
“We will foster stronger partnerships with local communities and form more strategic alliances, creating mutually beneficial relationships that support sustainable growth and development across the country,” said Soberano.
CLI’s strategic investments in capital projects totaled P12.89 billion in 2023, with 81.7 percent spent on project development and 6 percent on land acquisition. An additional P14.5 billion is allocated for capital expenditure for 2024, with a sustained focus on project development and completion, to complete delivery on our sold units. CLI has also earmarked P27.65 billion in 2024 for pipeline projects in expansion areas in Butuan, Gensan, and its maiden project in Luzon.
