CEBU Landmasters Inc. (CLI) has appointed Jose Franco Soberano as president and CEO, succeeding his father, company founder Jose Soberano III, as the property developer accelerates its expansion beyond the Visayas and Mindanao where it first built its brand.
The leadership transition was approved following the company’s annual stockholders’ meeting and organizational board meeting on June 5.
Prior to his appointment, Franco Soberano served as CLI’s senior executive vice president and chief operating officer.
Soberano III will remain executive chairman of the board and chairman of the executive committee, providing strategic oversight as the company pursues its next phase of growth.
“This transition reflects years of deliberate preparation and a shared commitment to ensuring Cebu Landmasters remains strong for generations to come,” Soberano III said.
“Franco has played a critical role in shaping the company we are today and is well positioned to lead CLI through its next stage of growth,” he added.
The succession comes as Cebu Landmasters reported record residential reservation sales of P24.6 billion in 2025, up 45 percent from the previous year, driven by strong housing demand and the launch of new residential developments.
The company also posted consolidated revenues of P18.5 billion last year.
Under Franco Soberano’s tenure as chief operating officer, CLI expanded its portfolio and geographic reach, strengthening its position in the Visayas and Mindanao markets while laying the groundwork for expansion into other parts of the country.
Its recent initiatives include the planned launch of its first residential mixed-use development in Pasig City and the acquisition of a 70-hectare property in Dasmariñas, Cavite, which the company intends to develop into a township project.
Founded in Cebu in 2003, CLI has grown into one of the country’s fastest-growing listed property developers, with operations spanning 21 cities and municipalities and more than 132 projects in various stages of development.
“As our chairman has expressed his trust in the next generation of leadership, I humbly accept this responsibility with the deepest gratitude and with the highest respect for the legacy that Chairman Joe Soberano has built,” Franco Soberano said.
The company said the succession plan had been developed over several years as part of its long-term governance and leadership strategy.
Separately, shareholders elected Leonardo Cuaresma Jr. as independent director, replacing Ma. Aurora Geotina-Garcia, who completed her allowable term under Securities and Exchange Commission rules.
Cuaresma previously served as managing partner and chief operating officer of Punongbayan & Araullo and chaired the Philippine Auditing and Assurance Standards Council.
Cebu Landmasters shares on Friday marginally dropped P0.01, or 0.45 percent, to close at P2.21 each.
