VISMIN real estate developer Cebu Landmasters Inc. (CLI) is gearing up to enter a new phase for national expansion following a record-breaking 2025, marked by a 45 percent year-on-year (YoY) surge in residential reservation sales — the highest in company history — to P24.6 billion and a sustained sell-out rate of 91 percent across all its residential projects.
CLI’s expansion to the broader market of Luzon coincides with the leadership transition that elevates CLI Founder, Chairman and CEO Jose Soberano III to the position of executive chairman and appoints his son and successor, Jose Franco Soberano, as president and CEO.
The younger Soberano, who was senior executive vice president and chief operating officer before this new role, will now lead the company as it pursues national expansion. The older Soberano in his new position will continue to provide strategic direction, board leadership and continuity.
Speaking at the company’s annual stockholders’ meeting and organizational board meeting on June 5 in Mandaue City, Cebu, Jose Soberano said: “CLI is well-positioned for the next stage of expansion. The company’s foundation in Visayas and Mindanao remains solid, while its expansion into Luzon opens new opportunities across a broader market. The existing landbank provides a strong runway for growth, with the potential to support approximately P300 billion in project value over the next seven to eight years.”
On venturing into Luzon, which he described as “more complex and competitive,” Jose Soberano said the company will use the same approach it has used in the VisMin region: “deliberate” and characterized by the “disciplined deployment of capital.”
“Even now, as the market conditions continue to evolve ... the company believes that there is a strong potential to bring CLI’s brand of residential development, service, and trust to carefully selected markets beyond VisMin,” he said.
As it begins its first steps in the bid to become a national developer, CLI has established its Makati office that serves as a hub for Manila sales, Investor Relations, and stakeholder engagement. It has entered into a partnership with NTT UD Asia Pte. Ltd., a subsidiary of NTT Urban Development Corp., to develop its first residential mixed-use development in Pasig, which is targeted for launch this year. It has also acquired a 70-hectare property in Cavite, envisioned to be a future township.
In 2025, CLI posted P18.5 billion in consolidated revenues, P4 billion in consolidated net income, and P3 billion in net income attributable to parent shareholders, according to CLI Chief Financial Officer Paquita Rafols.
The new leadership
With a market share of 18 percent, CLI has 132 projects under its wing: 103 of which are residential projects, six offices, 10 hotels and resorts, 10 mixed-use, three townships, and 188 hectares of landbank for development.
Under the new leadership of Franco, CLI will continue to prioritize the completion of existing projects. Its aim is to turn over about P20 billion this year and recognize about P23 billion in unrecognized revenues.
Franco highlighted the need for “continuous improvement, maintaining high-value, affordable projects with superior service, as it expands into new markets.”
The focus will be on long-term growth, customer satisfaction, and strategic opportunities, despite external challenges, he added.
Amidst market uncertainties, Franco said that CLI has continued its project activities while achieving low cancellation and delinquency levels.
According to Franco, CLI’s cancellation rate of 3 percent and its 2.6 percent delinquency rate are among the lowest.
He said, “The market is strong where we operate. We are going to work very hard to make sure we have new launches, despite challenges.”
“We are cautiously optimistic but more optimistic. We hold ourselves accountable and we have to deliver,” he said. “We have not even slowed down on any project. All projects are actually proceeding as fast as possible.”
Among the notable mixed-use projects in Cebu with phases slated for completion this year are Patria de Cebu and Astra Centre.
Franco said managing the company’s 188-hectare landbank, which expanded 300 percent YoY, will remain a key priority.
To win the Luzon market, the company is banking on the track record that has made it successful in Cebu.
“We have always been a very generous developer, and it starts with the service-oriented attitude of our family. We look at this as a service, more than a business,” Franco said. “How can we be generous? A mid-market project should have high-end amenities and low operating costs but yield the highest value appreciation. We are very good at delivering a very competitive price. It will take time before we are able to convince Luzon.”
“We are getting bigger,” Franco reiterated. "But we want to act as a startup.”
