Cebu Landmasters, Inc. (CLI), the leading residential developer in the Visayas and Mindanao, has announced its financial and operational results for the first half of 2026. Despite a temporary shift in project launches due to regulatory timelines, the company maintained broadly stable revenues, healthy profit margins, and robust underlying residential demand.
With a growing recurring income portfolio and an aggressive P25-billion launch pipeline lined up for the second half of the year, CLI is well-positioned for accelerated expansion in the months ahead.
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Total Revenues: Nearly steady at P10.2 billion (down just 1% year-on-year).
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Real Estate Sales: Recorded at P9.7 billion (a 2% minor decline), reflecting the scheduling of Licenses to Sell (LTS) approvals that pushed fresh inventory rollouts into H2.
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Consolidated Net Income: Stood at P2.0 billion, impacted by project timing shifts and a higher comparative base from the previous year (which included a P0.4-billion gain from an investment property disposal). Core performance, however, remains remarkably steady.
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Gross Profit Margin: Sustained at a strong 50%, backed by strict cost discipline across ongoing developments.
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Total Assets: Grew 6% to P141.6 billion from P134.2 billion at year-end 2025, driven by continuous investments in development and recurring income assets.
Underlying residential demand remained remarkably strong despite limited new inventory additions during the period. As of June 30, 2026, CLI’s property-for-sale portfolio comprised 107 projects and 45,507 residential units valued at P176.1 billion.
Demonstrating strong buyer confidence, the portfolio’s sell-through rate improved to 95% from 92% in the previous quarter. Furthermore, customer credit indicators remained exceptionally healthy, with delinquencies at 2.91% and cancellations at 3.54% of total receivables—testament to the predominantly end-user-driven nature of CLI’s market.
“Our first-half results demonstrate the resilience of our core business. Despite the timing shift in new launches, revenues remained broadly stable, margins stayed healthy, and recurring income continued to grow,” stated Jose Franco Soberano, President and CEO of Cebu Landmasters. “This gives us confidence as we bring more projects to market in the second half.”
CLI’s strategic diversification into hospitality and leasing continued to bear fruit, posting significant double-digit growth in the first half:
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Leasing Revenues: Surged 49% year-on-year to P162 million, propelled by newly operational commercial assets, a growing tenant base, and the successful opening of The Paragon Davao Lifestyle Mall.
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Hotel Revenues: Increased 15% year-on-year to P231 million, supported by higher occupancy rates and additional room inventory from the Q1 opening of Radisson RED Cebu Mandaue.
CLI enters the second half of 2026 with an aggressive pipeline designed to replenish inventory and capture mounting market demand. The company is slated to launch over 11 projects comprising 5,600 units worth an estimated P25 billion within the next six months.
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Geographic Reach: New developments will span established and emerging hubs including Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao.
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Landmark Expansion: The upcoming pipeline marks a historic milestone for CLI: its official entry into Luzon, highlighted by the planned launch of its first residential project in Pasig City.
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Estate Developments: In addition to residential expansions, CLI is preparing to unveil two new master-planned estates.
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“We see the first half largely as a timing shift. As approvals come through and fresh inventory returns to the market, we are well positioned to carry this strong underlying demand into our next phase of growth,” Soberano added. “Together with our expanding recurring income businesses, these give us multiple platforms to sustain CLI’s growth over the longer term.”
The robust first-half performance coincides with a new chapter of corporate governance. In June 2026, the company officially transitioned leadership with the appointment of Franco Soberano as President and CEO, while founder Jose Soberano III assumed the role of Executive Chairman.
