Cebu Landmasters Inc. (CLI) generated P14.1 billion in revenue in the first nine months of 2026, maintaining nearly the same level as last year despite a 15% decline in consolidated net income.
The Cebu-based property developer reported P2.64 billion in consolidated net income from January to September, down from the same period in 2025, partly because of higher gains from investment property sales recorded in the previous year. Net income attributable to the parent company stood at P1.79 billion.
Revenue slipped by 2% year-on-year, with real estate sales accounting for P13.40 billion of the total. Continued sales from existing developments and construction progress across ongoing projects supported the company’s performance.
CLI’s gross profit reached P7.12 billion, with its gross profit margin improving to 51% from 49% a year earlier. Operating expenses remained unchanged at P2.86 billion.
The company also reported stronger contributions from its leasing and hospitality businesses, with combined hotel, mall and office revenues increasing 26% to P593 million.
Mall and office revenues rose 35% to P228 million, while hotel revenues grew 22% to P365 million. Its commercial and hospitality portfolio includes The Paragon Davao Lifestyle Mall, Radisson RED Cebu Mandaue and Astra Lifestyle Centre.
CLI’s total assets stood at P146.70 billion as of September 2026, up 9% from P134.16 billion at the end of 2025. Total equity increased 10% to P38.36 billion.
President and Chief Executive Officer Jose Franco Soberano said the company’s presence in the Visayas and Mindanao and continued demand from homebuyers supported its performance.
“CLI’s 14.1B revenues reflect a resilient performance. While several macroeconomic factors are affecting the industry, CLI’s leadership in the VisMin area gives it a position of strength. Driven by end-user demand and no oversupply conditions persisting, CLI’s residential inventory is at 94% sold-out across all projects and at a low delinquency rate of 3%,” Soberano said.
The company recorded P16.2 billion in residential property sales during the nine-month period despite not launching new residential developments in the first half of the year.
Its residential portfolio was 94% sold out at the end of September.
Three developments launched in September, namely Costa Mira Beachtown Mactan Tower 4, Alto Ranudo and Casa Mira Prime Ormoc Phase 1, posted a combined 56% sell-through, representing P4.4 billion in sales value.
CLI launched two more projects toward the end of October: Mirani Homes Bogo and The West Village at DGT. The five developments have a combined project value of P11.08 billion.
At Casa Mira Prime Ormoc, overseas Filipino workers account for about half of the buyers. Many purchasers come from outside Ormoc, including nearby provinces, with families of seafarers forming a notable market segment.
“Families are making more deliberate homebuying decisions in this economic environment, making it important for us to build homes that respond to their needs,” he said.
“The encouraging response to our recent launches affirms the continued demand for well-planned homes across Visayas and Mindanao. End users and OFWs remain an important market, giving us confidence to continue bringing new homes to communities where we see sustained interest,” Soberano said.
CLI plans to launch four more residential developments before the end of 2026 in Cagayan de Oro, Butuan and Cebu.
The company is preparing the projects as part of its expansion plans, supported by a 260-hectare landbank for future residential communities and mixed-use developments.
“For the months of September and October, CLI has launched five new projects, strongly driven by the OFW and end-user market in VisMin. CLI remains positive about its plans for the remainder of the year as we launch four more residential projects, advance project completions, and drive further growth across our mall, office, and hospitality operations,” Soberano said.
He said the company would prioritize completing ongoing developments and delivering homes to buyers while maintaining disciplined decisions on the timing and type of projects it introduces to the market.
CLI is a publicly listed property developer with more than 135 projects across the Visayas and Mindanao, covering residential, mixed-use, township, leasing and hospitality developments.
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