Business Leisure | Cebu Landmasters reports 28% first 9 month growth, solidifies market leadership in VisMin

Cebu Landmasters unveiled the fourth tower of Casa Mira Towers Palawan early this year with the first three towers already fully sold out less than a year after launch. Casa Mira, CLI’s flagship economic brand, accounted for 52% of total sales in the first nine months of the year, underscoring continued strong demand for housing in the economic market.

• CLI reported a 28% increase in consolidated net income, reaching P3 billion by end-September.

• Double-digit revenue growth across all business segments led to an 18% rise in gross revenue to P12.93 billion 

• Colliers International's most recent study reaffirms CLI's market leadership in VisMin with the highest market share at 23% in net take-up.

Leading developer in VisMin Cebu Landmasters Inc. (CLI) continued to deliver robust growth in its consolidated net income for the first nine months of the year, posting a 28% rise to hit P3 billion in end-September from the P2.4 billion recorded in the same period last year.

CLI’s net income attributable to the parent company also posted a solid 9% increase to reach P2.4 billion from P2.2 billion in the previous year.

Impressive double-digit revenue growth was recorded across all of CLI’s business segments, pushing the listed firm’s gross income to rise by 18% to P12.93 billion from P10.96 billion.

"We are very pleased with our performance this year, achieving double-digit profit expansions in the last three quarters despite the headwinds of inflation and higher interest rates in the country. This underscores CLI's commitment to providing value to shareholders and affirms the sustainability of our growth trajectory,” CLI chairman and CEO Jose Soberano III said.

Across segments, CLI’s real estate unit continued to be the primary driver of the company's revenue. The sector posted a remarkable 17% increase, propelled by ongoing construction progress and higher units that qualify revenue recognition.

CLI's sales also surged 25% to reach P17 billion in the first nine months of the year. Casa Mira, CLI’s flagship economic brand, accounted for 52% of total sales, underscoring continued strong demand for housing in the economic market. The listed company successfully launched 3,664 units valued at P14.87 billion as of end-September, contributing to an exceptional 93% sell-out status for all projects in various stages of development.

The listed company’s other verticals also experienced notable growth. CLI’s hotel portfolio revenue surged 78% during the period, fueled by both higher room rates and increased occupancy. Its leasing business saw a 43% increase in revenue, driven by a 71% rise in occupancy rates. This was attributed to upcoming handovers in strategic locations like Davao Global Township and 38 Park Avenue, along with other prime commercial spaces nearing completion.

Throughout the year, the company spent a total of P10.4 billion in capital expenditures, mostly allocated to project development. A notable investment was the acquisition of a 21-hectare land in the city of General Santos, planned to be developed as economic and mid-market communities.

Meanwhile, Colliers International's recent real estate market study affirms CLI's continued market leadership in VisMin. As the foremost developer, the listed company holds the highest market share at 23% in net take-up.

“We are honored to be of service to our primary market, the VisMin region,” Soberano said. “Rest assured, we remain committed to fulfilling our promise of customer-centric development. Our achievements inspire us to continually enhance our services for all stakeholders." 

Looking forward, CLI has entered into a partnership with NTTUDA, a major Japanese developer known globally for commercial properties, including office buildings, residences, and mixed-use developments. This is the listed company’s first foreign joint venture partnership and is geared towards the development of premium-grade residential towers in the heart of Cebu City.

“While we are thrilled with what has been a milestone year in which we celebrate our 20th anniversary, we look forward to reaching new heights with more developments and key partnerships on the horizon,” Soberano said.

CLI plans to launch two to three additional projects this year, including Casa Mira Homes Butuan, which is projected to generate P 2 billion in sales. Three new hotels are also scheduled to open in the next few months: The Pad Co-Living in Banilad High Street, lyf Cebu City in Base Line Center and Citadines Bacolod City. Additionally, an expansion project is in the works for the highly successful Calle 104, which achieved remarkable sales in a short span of time.

CLI is also finalizing its first-ever site in Luzon, located in Naga City.

Event | Cebu Landmasters and YHES top off The Paragon Davao

Leading developer in VisMin Cebu Landmasters Inc. (CLI) through joint venture YHES Inc. recently topped off the 263-room hotel Citadines Paragon Davao and the 26-storey residential tower One Paragon Place of mixed-use development The Paragon Davao. One Paragon Place is expected to start turnover in Q4 2023, while Citadines Paragon Davao is set to open its doors in 2024 and will feature well-appointed hotel rooms and serviced residences. The image shown is a most recent aerial photo of the development.

Leading developer in VisMin Cebu Landmasters Inc. (CLI), through joint venture YHES Inc., recently topped off the 263-room hotel and the 26-storey residential tower of The Paragon Davao. Located in Matina along Davao City’s famous MacArthur Highway, the P3.0 billion mixed-use development is envisioned to be a lifestyle and convention destination. With over 80,000 sqm in floor area, the Paragon Davao is rising proudly above Davao’s skyline as one of the largest mixed-use developments in the city.

 

Gracing the topping off ceremony of The Paragon Davao are (L-R): ​​Jasper Huang, Cebu Landmasters chairman and CEO Jose R. Soberano III, YHES corporate secretary Jason Huang, Davao City mayor Sebastian “Baste” Duterte, Davao City vice-mayor Jay Melchor Quitain Jr., YHES president Frederick H. Yuson, Cebu Landmasters senior project manager Engr. Rogelio Vinluan, Cebu Landmasters vice-president for sales Marie Rose Yulo, and Cebu Landmasters vice president for business development Sylvan John Monzon.

CLI chairman and CEO Jose Soberano III remarks: “We’re pleased that The Paragon Davao will be completed just as Southern Mindanao fully opens up to travel and heightened business and leisure activity. It will serve as a natural catalyst for economic growth in the area.”
 
Fred Yuson, president of YHES Inc., the joint venture between CLI and the Villa-Abrille clan, highlights that the hotel and residential tower will be complemented by a convention center and close to 8,000 sqm of food and retail area. “The Paragon Davao will be a lively destination for locals as well as a destination or venue for meetings, incentives, conventions and exhibitions (MICE) that will draw business travelers from other parts of the country,” said Yuson.
 
The property’s residential tower One Paragon Place with 554 units is expected to start turnover in Q4 2023. It was named as the Best Condo Development in 2021 by PropertyGuru Philippine Property Awards.
 
Part of The Paragon Davao is an international hotel, Citadines Paragon Davao, set to open its doors in 2024 and will feature well-appointed hotel rooms and serviced residences. It is CLI’s fourth hotel in partnership with The Ascott Limited and is expected to help boost the listed company’s hotel revenues.
 
The 2.9 hectare The Paragon Davao will also include The Paragon Davao Convention Center with a grand ballroom that can accommodate up to 2,500 guests. It also has event and meeting rooms and pre-function areas.
 
Masterplanned by CallisonRTKL in collaboration with top Philippine architectural firm RMDA, the complex will likewise develop The Paragon Davao Lifestyle Mall with 4,398 sqm GLA. The mall will feature a range of retail, food and beverage outlets.
 
Cebu Landmasters is expected to soon launch horizontal projects in Davao City. The listed company’s Davao Global Township, awarded as Best Township in Asia by PropertyGuru Asia Property Awards 2021, is nearing full site development completion and will be open to the public early this year. 

Lifestyle | CLI improves midtown Cebu traffic flow with opening of new F. Ramos Ext access road at Base Line Center

The 200-meter F. Ramos Ext. access road provides a direct link between MP Yap and  Llorente streets, and provides an alternative access to and from Juana Osmena St. via Base Line Drive.  This will help improve traffic flow and provide the community an easier route to business establishments and lifestyle destinations around the area. 

Leading developer in Vismin Cebu Landmasters, Inc. (CLI) together with the Cebu City Government officially opens a new F. Ramos Extension access road to vehicular traffic starting today, October 19.
 
The 200-meter F. Ramos Ext. access road provides a direct link between MP Yap and  Llorente streets, and provides an alternative access to and from Juana Osmena St. via Base Line Drive.  This will help improve traffic flow and provide the community an easier route to business establishments and lifestyle destinations around the area.
 
Officiating the ribbon cutting and road opening ceremony is Cebu City Vice Mayor Raymond Alvin Garcia together with CLI executives CEO and President Jose R. Soberano III, COO and Executive Vice-President Jose Franco Soberano, and Capitol Site Barangay Captain Manuel Guanzon.
 
“As the economy continues to open up further, additional infrastructure improvements such as this newly established F. Ramos Ext. road connection are highly welcomed. We are proud to work hand-in-hand with the City of Cebu to realize these improvements for the benefit of our fellow Cebuanos.”, said CLI CEO and President Jose Soberano III.
 
The road opening will also reinforce CLI's ongoing expansion of the premier mixed-use development Base Line Center, fortifying its sustainable urban development initiatives with pedestrian-friendly features and enhanced vehicular circulation in a landscaped 1.6 hectare property.  
 

The Base Line Center features residential condominiums (Base Line Residences, Base Line Premier and Base Line Prestige), office building (Base Line HQ), commercial spaces (Base Line Center), serviced residences (Citadines Cebu City) and a hotel (Lyf) to soon open in 2023.

Its newest and final tower, the Base Line Prestige, will soon feature a wing of spacious new residences with an amenity podium floor and a retail podium, and an internationally managed, modern and hip hotel, Lyf by the Ascott Limited.
 
Inspired by Base Line’s history as a favorite gathering place of Cebuano families, the property aims to be a preferred center of a vibrant community for the long-term. Its strategic location at Juana Osmena St. ensures close proximity to essential amenities like supermarkets, fitness gym, dining outlets, food kiosks, among others.
 
The Base Line Center features residential condominiums (Base Line Residences, Base Line Premier and Base Line Prestige), office building (Base Line HQ), commercial spaces (Base Line Center), serviced residences (Citadines Cebu City) and a hotel (Lyf) to soon open in 2023.

Lifestyle | Cebu Landmasters Sustains Growth Momentum with Record 1.55B H1 Net Income, up 40% yoy

Cebu Landmasters Inc (CLI) is one of the VisMin top developers in the country. They have a partnership with the Davao-based family to build the Davao Global Township, an award winning township not only the Philippines but also in Asia.

Here's a story of CLI's continued growth and presence. Let's check it out...

Cebu Landmasters’ Davao Global Township (DGT) envisioned to be the preferred central business district in Davao has already completed land development and is now selling commercial  lots. The first 4 towers of The East Village at DGT, the township’s first six-tower residential project, are also now almost 100% sold.

On the back of strong sales and project completions, leading VisMin developer Cebu Landmasters, Inc. (CLI) achieved its highest H1 net income performance of Php1.55 billion, an increase of 40% versus H1 2021. Without the adjustment from CREATE law, CLI grew its earnings attributable to parent by 18% from the reported Php 1.1 billion of the same period last year.

Real estate sales also grew by a robust 45% from Php5 billion to Php7.36 billion year on year. All other business units continued to improve performance as the firm fast-tracked construction and strengthened operations. These resulted in higher percentage of completion, paving the way for more units to qualify for revenue collection. Gross profit margin was maintained at a healthy 45% as the company strongly mitigated inflationary pressures while sustaining 100% of its construction operations.

CLI’s economic housing brand Casa Mira accounted for the largest share of H1 2022 revenues indicative of the significant housing backlog in key VisMin cities. A hefty 40% of H1 2022 revenues came from Cebu; with Davao following at 16%; Cagayan de Oro, 15%; Iloilo, 12%; and the balance from Ormoc, Bacolod, Dumaguete and Bohol. With CLI’s portfolio now encompassing over 15 key VisMin locations, the company sees increased contributions from its new expansion areas in the coming quarters. 

The listed firm’s first-half leasing business expanded by 20% year-on-year as both office demand and retail foot traffic saw a healthy rebound especially in Cebu. With heightened tourism activity accompanied by increased mobility in Vismin, CLI’s hospitality business registered a 271% growth as occupancy rates significantly improved.

CLI’s capital expenditures rose by 42% to Php5.5 billion from last year’s Php3.88 billion, with most of the amount earmarked for project development while 22% was spent on land banking including the purchase of a 17-hectare expansion site in Butuan City. CLI is also gearing up for its large-scale townships in Davao, Cagayan de Oro and Minglanilla in Cebu as these are now moving strongly at different stages of development. 

Davao Global Township (DGT), envisioned to be the premier central business district in Davao, was recently inaugurated with the site development completion of the 23-hectare estate. The company also announced that limited commercial lots were being made available for sale to select developers and investors in the estate, awarded as Best Township in Asia 2021 by PropertyGuru Asia Property Awards. The first 4 towers of The East Village at DGT, the township’s first residential offering, is now 90% sold in only 4 months since its March 2022 launch date.

These positive developments were further reinforced by CLI’s announcement that it would increase its retail bonds offering to Php8 billion from Php5 billion and a Php3 billion oversubscription. Strong interest from institutional buyers prodded the move. Meanwhile, the maiden retail bonds of CLI was rated PRS Aa plus with stable outlook by PhilRatings on the back of sound management and strategy with a sustained competitive advantage in the Visayas and Mindanao markets.

Jose Soberano III, CLI chairman and CEO, disclosed: “We are on track to achieve another record year and there are several strong indicators for CLI to achieve its growth guidance of 20% this year. With our expanding portfolio and with our operations tailored to provide the strongest ‘ground game’ in the region, CLI is best-positioned to address the growing housing backlog while extending best-in-class turnaround times and customer service.” 

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Exciting projects will soon be rising with CLI in many cities in the VisMin area.

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Event | Cebu LandMasters Inc. Unveils Newest Project - Abaca Resort Mactan

Set to be completed in 2024, the new Abaca Resort Mactan is CLI’s very first resort development and will feature a timeless Sky Villas concept to serve as the platform for memorable getaways. The photo above is a perspective of Büro Ole Scheeren’s architecture and innovative design of the re-imagined luxury resort to open in 2024.

 
Another project is unveiled by Cebu Landmasters Inc. (CLI) in Mactan, Cebu. It will be known as the Abaca Resort Mactan. This project is also expected to be completed in the year 2024.

Check out the story here:

Cebu Landmasters unveils the new Abaca Resort Mactan, opening in 2024

 

Leading developer in VisMin Cebu Landmasters Inc. (CLI) strengthens its hotel portfolio in the region as it reveals its very first resort development – the P2.5 billion Abaca Resort Mactan. The expanded luxury boutique hotel is set to be completed in 2024.

 

The 125-room all-suite accommodation featuring exclusively panoramic ocean views is envisioned to fill the gap for luxury resorts catering to global travelers in Cebu’s thriving tourism scene in preparation for international mobility. It will rise 17-stories high on a 4,500 sqm. property formerly occupied by the multi-awarded Abaca Boutique Resort in Punta Engano, Lapu-Lapu City, a tourism growth center.

 

CLI purchased the property in 2019 and has signed up The Abaca Group to continue operating the hotel and providing luxury experiences tailored for local and global tourists. To design the resort and infuse it with a unique sense of place sought by an emerging breed of high-end travelers, CLI tapped internationally renowned architectural firm Büro Ole Scheeren whose projects won numerous awards globally. Some of their notable work are CTBUH Urban Habitat Award 2020 Winner DUO in Singapore, the World Building of the Year 2015 The Interlace in Singapore, and MahaNakhon Tower in Bangkok, a mixed-use high-rise development that upends the conventional typology of the skyscraper. The resort’s design is also locally supported by the Philippines’ leading architectural firm AIDEA.

 

Abaca Resort Mactan is CLI’s first resort development and will feature a timeless Sky Villas concept to serve as the platform for memorable getaways. Each room will offer the luxury of space and will range from 40-50 sqm for the Oceanfront Suites, and up to 105 sqm for the Sky Villas which will have its own one-of-a-kind floating infinity pools that will be offered in both 1 and 2 bedrooms.

 

Aside from its awe-inspiring architecture, the resort will feature a luxurious infinity pool, an elevated cascading plunge pool, 360-degree roofdeck bar, a private beach and panoramic ocean views. These will be enhanced by a gym and spa, kids center and function rooms for events.

 

Abaca Resort Mactan will also be distinguished by culinary offerings that have won for The Abaca Group a loyal following in highly cosmopolitan Cebu. The resort will have three outlets, offering new food and beverage concepts for the resort  –  a live-fire Asian concept on the main level, a new normal, all-day dining format and fantastic banquet facilities that can seat over 200 persons. Abaca restaurant will return and have a new home on the impressive rooftop with panoramic views of both the city and the sea.

 

“We have always wanted to contribute towards making Cebu a thriving economic and tourism destination,” according to CLI chairman and CEO Jose Soberano III. “Abaca Resort Mactan will put Cebu on the radar of this emerging breed of global travelers seeking world-class, authentic and unique holiday experience.”

 

The Abaca Group’s Founder, Managing Partner and Executive Chef Jason Hyatt says, “as one of the country’s preeminent developers, we are honored that CLI has chosen to partner with us once again through their hospitality arm. Being added to their portfolio of established global brands like Accor, Radisson and Ascott is so inspiring.”

 

Following the opening of the new Abaca Resort Mactan in 2024, Cebu Landmasters targets expanding its hotel portfolio to 1,433 rooms by 2025. This is in line with CLI’s strategy to build-up its recurring business contributing 10% to the company’s topline.

 

“We see tourism in the Visayas and Mindanao driving the economy once global mobility is restored,” according to Soberano. With direct flight connections all over the world, Cebu will be the natural gateway to the Philippines for many travelers seeking to enjoy the country’s world-acclaimed beaches and other attractions. “We will be ready for that boom.”

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This is another project at a strategic location and envisioned to be a great venue for events post pandemic. I am excited for this as well as their ongoing projects in Davao City. Looking forward to these developments.

Thank you for visiting my avenue, www.ten7avenue.com.

Event | The Paragon Davao Showroom Opens

Model Room for Citadines Paragon Davao

The Paragon Davao is Cebu Landmasters Inc.’s (CLI) fourth mixed-used property development in the Visayas and Mindanao area conceptualized and designed by Callison RTKL in collaboration with top architectural firm RMDA.

Ribbon Cutting by the Partners

The development is a partnership with the Villa-Abrille family, through a joint venture YHES, Inc. The Paragon Davao will have a 26-storey residential condominium (known to be the One Paragon Place), 263-room Citadines Paragon Davao that will be operated by the Ascott Limited, The Paragon Davao Convention Center and The Paragon Davao Lifestyle Mall.

Model room for One Paragon Place

To have a sneak preview of how the rooms will look like at the One Paragon Place and Citadines Paragon Davao, The Paragon Davao showroom opens at the 4^th floor of the Cebu LandMasters Inc. Building, along Quirino Avenue near the Sutherland. The showroom for One Paragon Place showcases tropical and coastal themed model studio and 1-bedroom units; the designs are infused with Davao elements in patterns and textures of materials. The showroom for Citadines Paragon Davao showcases vibrant and space efficient design that has a contemporary style fused with a local flavor.

Mr. Frederick Yuson and Mr. Jose Franco Soberano during media huddle

The Paragon Davao is a masterpiece that amounts to P2.6 billion that is expected to be completed by 2022 and envisioned to be Davao City’s lifestyle destination. According to Mr. Jose Franco Soberano, Vice-President and COO of CLI, that The Paragon Davao is 90% sold already even the showroom is just opened. It is a good indication that CLI and YHES is embraced by the market with open arms since the launch of the project last March 2019.

The showroom will be open every Mondays to Fridays from 9AM to 6PM, and on Saturdays from 9AM to 12noon.

CLI is awarded as Best Developer for 2019 in the Philippines and Best Developer for 2019 in VisMin area, too. The first venture of YHES is the MessaTierra Garden Residences which is about to top off by next month, January 2020.

Mr. Yuson Showing Plans for Times Beach

The other projects expected from their joint venture will be Davao Global Township that is worth P10 billion. The development is around 22 hectare and the road development will be ready in 6 months time. More projects will be expected!