CLI earmarks P12 billion for maiden Luzon projects

MANILA, Philippines — Cebu Landmasters Inc. (CLI), a listed real estate developer focused in the Visayas and Mindanao, is preparing to spend P12 billion for its maiden projects in Luzon.

After establishing a major presence in Visayas and Mindanao with over 100 projects in its portfolio, CLI is entering the Luzon market and is currently finalizing land acquisitions for potential projects.

CLI’s first two projects in Luzon include a horizontal project in either Batangas or Cavite as well as a vertical project in Metro Manila.

CLI chairman and CEO Jose Soberano III said the company would spend P12 billion initially for the two projects.

“Talking of land acquisition alone, that should be in the range of about P5 billion on these two projects,” Soberano said.

“For the development of the horizontal project, it will be phased so you want to start off probably with another P2 billion for the initial phase. But in the vertical, you start with two or three towers for another P5 billion,” he said.

CLI is set to launch its first Luzon-based project in 2026, which is likely to be the horizontal development that will span anywhere between 50 and 100 hectares consisting of 5,000 to 10,000 homes.

Soberano said that CLI is looking for a strategic partner for the planned vertical project, which is intended to be developed into a mixed-used project.

“Our hands are already full but it will become fuller as we deal into this new area. But it’s not just Metro Manila, it’s the whole Luzon for that matter,” he said.

Last year, CLI unveiled its Luzon expansion plans after cementing its leadership in Visayas and Mindanao, where it has close to 130 projects across 17 key cities.

As it gears up for its expansion in Luzon, the company yesterday opened its first regional office outside Visayas and Mindanao.

CLI’s move to open an office in Makati reinforces its commitment to becoming a national developer.

The 329-square meter office space will support the company’s growth and operations in Luzon, making it highly accessible to the Manila market.

It also seeks to foster closer collaboration with key stakeholders and provide a convenient venue for investor briefings.

“The opening of our Luzon office marks an important milestone for CLI. With this new hub, we are poised to bring our expertise and proven track record in real estate development to the Mega Manila market,” Soberano said.

“This new office symbolizes our readiness to bring the Cebu Landmasters brand to Luzon, leveraging our experience and expertise to serve a broader market,” he said.

Since its public listing in 2017, the company has successfully introduced various fixed income and equity instruments to support its rapid growth. These include its first bond offering in 2022 and the listing of its preferred shares in 2024.

The company has also announced plans to leverage its recurring income for the launch of its own real estate investment trust.

CLI’s diverse portfolio includes residential developments, offices, hotels and resorts, co-living and co-working spaces, mixed-use projects and large-scale townships.