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Cebu Landmasters targets 42% profit rise in 2018

CEBU Landmasters, Inc. (CLI) is aiming to grow earnings by as much as 42% in 2018, to be driven by robust sales and the completion of ongoing projects in the Visayas and Mindanao region.

The Cebu-based real estate developer set a net income target of P1.7 billion next year, against the P1.2 billion profit it expects to book by end-2017. For 2018, revenues are seen to grow by 67% to P2.77 billion, with real estate sales accounting for 99%.

“It’s robust sales performance of the company, completion of ongoing projects, and we are about to start construction of our newer launches as well… These are all realizable. We need to construct as we plan. The sales are there,” CLI Chief Operating Officer Jose Franco B. Soberano said during an analysts’ briefing in Makati City on Tuesday.

Mr. Soberano said CLI is taking advantage of the strong market in the Visayas and Mindanao region, noting the company currently has 46 developments in seven key cities.

“There’s no saturation to speak of. It’s us taking advantage of our roots and deep connections in this period,” he added.

The company is also banking on strong sales of projects to be launched in 2018. CLI has 20 new projects to be rolled out next year, increasing its project portfolio to 66 from 46.

Mr. Soberano said the project pipeline includes the development of a business hub in Davao City, where a 22-hectare golf course will be transformed into the city’s first central business district.

Currently, CLI has a total of 17,187 units spread out across 46 developments in various stages of construction, valued at P44.76 billion. Of this, 45% are residential condominiums, 22% are residential subdivisions, 22% are office or retail projects, and the remaining 11% are in the hospitality sector.

To support its 2018 targets, CLI will be registering P10 billion in retail bonds under the Securities and Exchange Commission’s shelf registration program. CLI plans to issue the first tranche of the bond offering worth P3 billion by April 2018.

The following tranches, split between P2 billion and P5 billion, will be issued depending on the timing of CLI’s project requirements in the next three years.

This will be CLI’s maiden bond issue following its initial public offering (IPO) last June, where it raised around P2 billion to finance projects.

“Doing the bond will help us conserve our ability to loan from the bank, because now financing would come from the retail investment market… We feel that doing the bond, fresh from the IPO, will not be as challenging because we just came from the market. The recall is still there in the financial market,” CLI Chief Finance Officer Stephen A. Tan told reporters after the briefing.

These bonds will most likely have a tenor of five to 10 years, Mr. Tan said.

Proceeds of the bonds will be used to partially finance the projects lined up for 2018.

For the first nine months of 2017, CLI booked a net income of P960 million, 77% higher than the same period last year. This follows a 67% surge in revenues to P2.77 billion for the period.

The company is aiming to hit a net income of P3 billion by 2020, on the back of P10 billion in revenues for the period.

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...panay ang labas ng press release ah

Cebu Landmasters taps Ascott for 3rd serviced residence project

CEBU LANDMASTERS, Inc. (CLI) is boosting its presence in the hospitality sector with the development of its third project in partnership with international serviced residences operator The Ascott Limited.

The Cebu-based property developer said on Wednesday it inked its third serviced residence management agreement with Ascott for “lyf Cebu City.” The 153-room serviced residence is under “lyf,” Ascott’s brand that targets millennial travelers.

“The growth potential offered by tourism is very promising and we are happy to be teaming up for the third time with The Ascott Limited in this project set to introduce new industry benchmarks,” CLI Chairman and CEO Jose R. Soberano III was quoted as saying in a statement.

Lyf Cebu City will be the third tower in CLI’s Base Line Center. It will offer rooms sized 16 to 60 square meters, and have communal spaces and co-working areas, which CLI said would fit the needs of technopreneurs, those working in start-ups, and people from the media and fashion industry.

Prior to lyf Cebu City, CLI has already partnered with Ascott for two developments under the Citadines brand. The company targets to complete the 180-room Citadines Cebu City by 2018, while Citadines Riverside Davao offering 250 rooms is slated for completion in 2021.

“The Ascott Limited partners with Cebu Landmasters for its credibility. They have a deep understanding and knowledge of the real estate industry and a strong foothold in the Visayas and Mindanao. Partnering with CLI strengthens our brand,” Ascott General Manager Arthur G. Gindap said in a statement.

Mr. Soberano, meanwhile, noted the company is ramping up development in the hospitality sector to take advantage of the growing number of tourists in the Visayas and Mindanao regions. CLI cited a study by the Department of Tourism stating that Cebu-Mactan will have a room gap of 14,931 by 2022.

CLI said the completion of the Mactan Cebu International Airport will further increase tourist arrivals in Cebu, which already saw a 25% increase in tourist arrivals in 2016 to 4.17 million visitors.

“Our hotel properties will maximize opportunities offered by the country’s growing tourism momentum while ensuring the full development of our mixed-use projects in strategic VisMin areas,” Mr. Soberano said. 

This new development will help support CLI’s growth plans in the future. In 2018, the company has already projected a net income of P1.7 billion, 42% higher than its P1.2-billion income target for 2017.

In the nine months ending September, CLI managed to grow earnings by 77% to P959 million, riding on the robust sales of residential properties.

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(12-07-2017, 08:53 AM)Ollie Wrote: ...panay ang labas ng press release ah


darating din oras nito comm...Big Grin
#24 release pa more Tongue

Cebu Landmasters to develop Davao CBD

CEBU LANDMASTERS, Inc. (CLI) will be developing the first central business district (CBD) in Davao City along with four Davao-based firms, it disclosed on Tuesday. 

The Cebu-based property developer said it signed a joint venture agreement with Plaza De Luisa Development, Yuson Newtown Corp., Yuson Strategic Holdings, Inc., and Davao Primeland Properties Corp. on Dec. 11. The Davao Matina Business Park will sit on a 17.1-hectare lot in Matina, Davao City. 

“Cebu Landmasters is bullish to invest in the Davao market and we are happy to serve the growing property requirements of the Davaoeños and of those coming from neighboring provinces,” CLI Chairman and Chief Executive Officer Jose R. Soberano III was quoted as saying in a statement. 

Davao Matina Business Park will host seven office buildings, four retail buildings, 29 residential condominiums, six town house-style buildings, one hotel, one convention center, one medical building, and a civic or community center, as per concept studies drafted for the project. 

“We pay close attention to the needs of the market and we design and build our developments with the market in mind,” Mr. Soberano said.

The first phase of the project will include site development, the office building, retail building, a residential condominium, and a civic or community center. This will start in 2018, with completion slated for 2021.  

Yuson Commercial Investments President and Chief Executive Officer Frederick H. Yuson, who represents three of the companies CLI has partnered with, noted this is the “best time” to develop the property that was previously a golf course. 

“The property has been utilized as a golf course since the 1960s and this is the best time to transform it into a business park to be able to contribute to the economic and social development of the city,” Mr. Yuson said in a statement. 

Mr. Soberano said they are also planning to acquire a 2.2-hectare lot adjacent to the property in order to bring the total project area to almost 20 hectares. The company is also in talks with more companies to acquire more lots adjacent to the property to further expand the project size. 

Davao Matina Business Park marks CLI’s third project in Davao City, with the first two being the residential brand MesaTierra Garden Residences and mixed-use estate Project Riverside. Construction for the two projects are currently ongoing and will be completed by 2020 and 2021, respectively. 

CLI looks to grow its profit by 42% to P1.7 billion in 2018, on the back of its continued expansion in the Visayas and Mindanao area. Revenues, meanwhile, are expected to reach P2.77 billion, 67% higher year on year. 

The company’s earnings surged 77% in the first nine months of 2017 to P960 million on the back of P2.77 billion in revenues. 

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