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 PHP 2.5 billion in dividends since its IPO with an additional PHP 0.18 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 hybrid annual stockholders meeting on June 4 in Citadines Cebu City. “Starting with one housing project in a Balamban, Cebu, CLI now has 119 projects spread all over the Philippines by the end of 2023, while our net income grew 24% CAGR in 7 years from PHP 778 million to PHP to 3.58 billion,” Soberano highlighted.
Mirani Homes Bogo
CLI continues its market leadership in 2023 with the launch of ten projects valued at PHP 18.7 billion, including the newly introduced Mirani brand with housing units priced from PHP 1.90 million to PHP 2.90 million for the affordable market segment. The company posted stellar sales performance reaching PHP 20.6 billion in reservation sales, with a 93% sell-out status of all projects.
Mirani Steps Danao
The listed company also expanded its hospitality portfolio by opening 3 hotels and now boasts more than 1,500 room keys with 6 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.
Walk-Up Sugbo 1
In its follow-on offering of preferred shares last April, CLI raised over PHP 4.28 billion having to exercise its oversubscription option to meet demand. 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 PHP 12.89 billion in 2023, with 81.7% spent on project development and 6% on land acquisition. An additional PHP 14.5 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 PHP 27.65 billion in 2024 for pipeline projects in expansion areas in Butuan, Gensan, and its maiden project in Luzon.
