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.

Chinabank is 2023 Employer of the Year

China Banking Corporation (Chinabank) was named as the 2023 Employer of the Year in the Philippines by the People Management Association of the Philippines (PMAP).   

The prestigious Employer of the Year (EOY) award represents a standard for excellence in people management. Chinabank, the only bank to win this coveted award in the last 30 years, was recognized during the 60th PMAP Annual Conference Awards Night on October 26, 2023 at the Waterfront Hotel in Cebu.  

“Our legacy is not just about banking, it's about people. This achievement reflects our commitment to the wellbeing and happiness of Chinabankers and to creating an empowered and inclusive workplace,” President & CEO Romy Uyan said.  

PMAP received a total of 77 nominations from all over the country for the three Award categories—Employer of the Year, People Manager of the Year, and People Program of the Year.  There were 33 nominations for the EOY category, which were evaluated based on the following criteria: strategic business management and HR partnership, performance focus, HR competence and credibility, leadership focus and approaches, people engagement, and risk management and sustainability.  

The rigorous evaluation process narrowed down the list to seven Regional Exemplars, including four Exemplar Employers that vied for the EOY award—Chinabank, Manila Water Company, Inc., Murata Philippines, and Rizal Commercial Banking Corp.  

PMAP is the premier group of companies and professional management executives engaged or interested in Human Resource Management and Industrial Relations work in the Philippines. Now on its 47th year, the PMAP Awards program continues the tradition of recognizing the best practices in the people management profession for others to emulate. 

News | Globe optimizing SIM Registration portal for better customer experience

December 27, Tuesday, in compliance with the law but had to make the site temporarily inaccessible to ensure a better registration experience for customers.
 
Several customers were able to access the site and register between 4 a.m. and 7 a.m. but the portal temporarily went offline as the site is being optimized. Globe aims to have the online platform back up within the day.
 
“We would like to thank our customers for going in to register early. Technical teams are working double time so the online platform can go live before the day ends. Rest assured that we are optimizing our systems to give you a better registration experience. We’d also like to remind our customers that there is enough time to register,” said Yoly Crisanto, Chief Sustainability and Corporate Communications of the Globe Group.
 
All Globe Prepaid, TM, Globe At Home Prepaid WiFi, Globe Mobile WiFi and Globe Business prepaid customers have until April 26, 2023 to register. Registration via the Globe One app will begin by January 2023, while on-site assisted registration will start in February 2023 for Globe customers facing challenges using digital or online platforms, using feature or basic phones, or have no internet access.
 
Globe has been preparing for the implementation of the SIM Registration Law but had to recalibrate its system within just 15 days given the release of new guidelines under the implementing rules and regulations (IRR), including the verification step through a selfie. The IRR was released on December 12, 2022.
 
“We ask our customers for their understanding as we experience these birth pains given this massive deployment of software. We’re setting the stage for our customers to have a good digital experience,” Crisanto said.
 
Meanwhile, data and information of existing Globe Postpaid, Globe Platinum, and Globe Business postpaid customers’ are already included in the Globe registration platform. Globe shall get in touch with these customers to confirm and complete their registration details to ensure customer information is aligned with the requirements of the law.
 
The SIM Registration Act is a major step in the fight against fraudsters who use anonymous SIM cards for illegal activities. This gives customers an extra layer of security and protection.
 
The law also complements Globe's ongoing efforts to combat fraud, like investing in filtering systems, proactively blocking scam and spam SMS, and partnering with banks and other financial institutions to share data.
 
For more info about the SIM registration process, go to https://www.globe.com.ph/register-sim-card.html#gref.  
 
To learn more about Globe, visit www.globe.com.ph.