CEBU LANDMASTERS, INC. (CLI) has acquired a 78.8-hectare (ha) property in Liloan, Cebu, through its joint-venture subsidiary Cebu Homegrown Developers, Inc. (CHDI) with Ixidor Holdings, Inc., to be developed into the province’s largest integrated township.
“The Liloan acquisition marks a strategic move in CLI’s growth roadmap, reinforcing its commitment to prudently expand its landbank while addressing the strong and sustained housing demand across its core markets particularly in VisMin,” CLI said in a stock exchange disclosure on Monday.
The planned estate, located about 17.6 kilometers north of Metro Cebu, will include a multi-segment residential community, commercial centers, and green and open spaces.
It will also be connected to transport hubs to balance accessibility and convenience.
“This acquisition substantially deepens our Cebu footprint and advances our mission to create leading townships in the VisMin (Visayas-Mindanao) region, following the success of the Davao Global Township in Davao City and Manresa Town in Cagayan de Oro City,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said.
“Together with Ixidor Holdings, our trusted partner in CHDI, we are committed to creating a model Cebuano township that is built for the future, where a combination of economic, social and environmental benefits will be felt for many generations.”
As of end-June, CLI’s consolidated net income rose by 13% to P2.49 billion, driven by higher sales, revenues, and faster project completions.
In the coming months, the developer plans to launch 12 new projects worth P29 billion in Metro Cebu, Palawan, Davao, and South Mindanao. It is also preparing for its first project in Luzon by 2026.
CLI has about 127 residential, mixed-use, hotel and resort, and township projects across 18 key cities in the Visayas and Mindanao.
At the local bourse on Monday, CLI shares closed flat at P2.41 apiece. — Beatriz Marie D. Cruz