This strong performance was driven by ongoing construction, higher hotel and leasing revenues, and a one-off lot sale.
The addition of two new hotels, lyf Cebu City and The Pad Co-Living, boosted hotel revenues, with more growth expected from the upcoming Citadines Bacolod City.
Leasing income surged by 42 percent due to an increase in gross leasable area to 40,575 square meters. CLI also launched four new projects worth P8.3 billion, further supporting future growth.
Management’s view
"Cebu Landmasters is poised to sustain this growth trajectory over the next few years with more projects opening in the coming months and as we further expand to new market areas,” said CLI chair and CEO Jose Soberano III.
Demand still outstrips available supply
"There has been steady demand for our residential projects as shown by the fast market
absorption of our newly launched developments,” Soberano said.
Demand continues to outweigh supply in the VisMin regions, with our projects selling out within days after market introduction, such as Velmiro Heights Davao, which fully sold out in practically less than two days after market introduction,” he added.
