VisMin Developer Cebu Landmasters is Launching its First Residential Project in Luzon

Property developer Cebu Landmasters, Inc. (CLI) is expanding outside of its market in the Visayas and Mindanao. The company has set aside P14.5 billion for its capital expenditure this year, while about P27.6 billion worth of new developments are in the pipeline, including its first residential project in Luzon. 

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“The year 2024 will see CLI [entering] the Luzon housing space, and it will see CLI’s value-for-money approach reaching more territories and families,” Jose Franco Soberano, chief operating officer of CLI, said.

Earlier, CLI disclosed Cavite might be the initial location for its maiden project in Luzon, where many other residential properties are being put up, like billionaire Manny Villar’s Vista Land and Camella Homes. The Cebu-based developer’s foray into the Luzon market comes on the heels of growing demand for housing units. A study from online real estate platform Lamudi Philippines showed 25 percent of affordable home property seekers are from Calabarzon, while majority are concentrated in Metro Manila at 53 percent.

“Our consistent growth fuels our vision to strengthen the company’s current offerings and expand beyond [the Visayas and Mindanao],” Jose Soberano III, chairman and CEO of CLI, said. “At CLI, we know these investments will go a long way—uplifting many communities where we operate in and [creating] more employment and business opportunities for Filipinos.”

In 2023, CLI allotted P12.9 billion for its capex—82 percent of the budget went to project development. Of the 119 projects, 76 percent are residential; 8 percent hotels; 8 percent mixed-use; 5 percent offices; and 3 percent estates.