Leading VisMin developer Cebu Landmasters Inc. of the Soberano family recorded a robust 32 percent growth in consolidated net income to P2.1 billion in the first half of 2023 from P1.6 billion in the same period last year.
He noted that, “CLI remains to be at the forefront of the action, while maintaining a strong financial and operational discipline in order to healthily sustain the company’s growth.” CLI is expected to grow its recurring income base with three more hotels opening within the year, with the openings of lyf Cebu City, Citadines Bacolod City and CLI’s first co-living brand The Pad Co-Living in Banilad Cebu City.
Reservation sales came the strongest from Davao, comprising 35 percent of the total for the period. The listed company opened its first house and lot project in Davao last June, which reached close to 80 percent sales in just three days.