Cebu Landmasters Inc. (CLI), a leading developer in VisMin, said yesterday it expects a significant increase in recurring revenues by 2023, as gross leasable area is seen to bolt past 200,000 square meters, contributing 10 percent to the total revenue, its press released said.
Jose Soberano III, CLI president and chief executive officer, said he sees the company further expanding recurring income streams within the next four years as it completes other ongoing projects .
The company also offers retail spaces in its residential condominiums that contribute 500 to 1,000 sqm of CLI’s gross leasable area.
In addition to leasing, CLI also looks at generating more recurring earnings from its ever-expanding hotel portfolio, and is set to operate over 1,000 hotel rooms in the next four years, the press release said.
“ With the continuous growth of the hospitality industry in VisMin, demand for hotel rooms will definitely rise,” Soberano said.
Citadines Cebu City, CLI’s first of the four hotels to be managed by The Ascott Limited, will be operational this 2019 with 180 hotel room units.
Other hotels to be managed by The Ascott Limited are Citadines Paragon Davao, Citadines Bacolod City, and lyf Cebu City.
The linchpin to CLI’s remarkable growth is its successful diversification effort in high-demand real estate sectors, the press release said .
“Cebu Landmasters will continue to diversify its developments from horizontal and vertical residential offerings to mixed-use, hotels, office, and estate projects,” Soberano added.*
back to top