CLI founder, president and CEO Jose Soberano with wife Marose (EVP and treasurer) and son Franco (SVP and COO)
Property developer Cebu Landmasters Inc. (CLI) expects to grow its revenues by 35 percent this year to P5.3 billion on the back of robust Visayas-Mindanao market.
This goal suggests a net income margin of around 32 percent. CLI earlier set a target to grow net profit by 31 percent this year to P1.7 billion.
Last year, CLI hit record high revenues of P3.93 billion and net profit of P1.3 billion, both up by 66 percent.
“Growth of real estate market in the Visayas and Mindanao remains robust and we bring our local real estate mastery to VisMin by expanding to other key cities in the region,” CLI chair Jose Soberano III said in a press statement on Wednesday.
Capital spending is projected at P8.8 billion this year.
CLI is set to launch 20 more projects this year across the Visayas-Mindanao region to bring its diversified portfolio of residential subdivision, residential condominium, offices, hotels, retail and estate to a total of 66.