CEBU Landmasters Inc. (CLI) ended 2017, six months after it became a listed company, with a record 66 percent increase in net income surpassing the P1.2-billion target. CLI reported a net income of P1.294 billion last year, with revenues reaching P3.929 billion, another record-setting 66 percent hike from its 2016 earnings of P2.361 billion. Real estate sales from CLI’s diversified portfolio of housing, offices and hospitality projects, accounted for the company’s performance in 2017. The property developer said real estate sales in 2017 reached P3.869 billion, from P2.23 billion in 2016. CLI credits this revenue increase to on-track construction progress and record sales of its various developments.

“We are proud of the exceptional 2017 performance of the company and are grateful for the trust given to us by our buyers and shareholders. It’s our banner year and in 2018, we will continue to deliver outstanding value as we aim to become the leading local real estate developer in the VisMin region,” said Jose R. Soberano III, CLI chairman and CEO.

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