Cebu Landmasters’ Metro Manila expansion set with ₱12.14B capex, and the Pasig project in pipeline

Developer enters Luzon market as record sales and rising recurring income support growth.

Cebu Landmasters Inc. (CLI) is making its Metro Manila debut, setting aside ₱12.14 billion in capital spending as it prepares to launch its first-ever project in the region by year-end.

Up to 70% of that budget is going straight into project development, with a mixed-use building in Pasig marking its Luzon debut. For a real estate developer long focused on VisMin, this signals a clear expansion play into one of the country’s most competitive property markets. The company has also secured a 70-hectare property in Dasmariñas, Cavite, strengthening its foothold as it moves further into Luzon.

The push comes even as overall spending is down from last year’s ₱16 billion allocation, reflecting a more targeted approach rather than a slowdown. Demand remains strong where it counts, with reservation sales jumping 45% to a record ₱24.6 billion, the highest in the company’s history, despite revenue dips tied to project timing.

Record sales amidst revenue timing

CLI reported a net income of ₱4.03 billion for 2025, up 0.75% from the previous year, while revenues declined 7.4% to ₱18.5 billion due to the timing of project completions and revenue recognition.

Aside from residential sales, CLI is steadily building a more reliable income stream. Recurring revenues from hotels, leasing, and management fees climbed 57% to ₱735 million. Hotel revenues rose 79% to ₱431 million, and leasing income increased 40% to ₱227 million, while management fees grew 21%.

Its office spaces posted a 90% occupancy rate, while hotels reached 60%. Other leasing assets also maintained around 90% occupancy. The company currently operates 797 hotel keys and 71,000 square meters of commercial space.

Navigating global headwinds

CLI said rising construction costs linked to the Middle East conflict have affected materials, though these have not significantly impacted overall demand.

This move puts CLI directly into the Metro Manila pipeline, where competition is tighter and expectations run higher. More projects coming in could widen options for buyers while pushing developers to step up on pricing, design, and delivery.