Cebu Landmasters defers Pasig residential launch to 2027

Founded in Cebu in 2003, Cebu Landmasters, Inc. (CLI) has expanded its footprint across 21 cities and municipalities with more than 132 projects in various stages of development. Among its landmark projects is the 23-hectare Davao Global Township, refl ecting the company’s growing portfolio of residential, offi ce, hospitality, mixed-use, and master-planned communities.

Cebu Landmasters Inc. has deferred the planned launch of its Pasig residential project to next year amid continued softness in the Metro Manila residential market.

The project covers a 3.5-hectare property on Ortigas Avenue Extension in Pasig City, marking CLI’s initial expansion into Metro Manila and Luzon. The company is developing the site with Japanese partner NTT UD Asia Pte. Ltd.

“Timing-wise, I think the prudence is for next year,” CLI president and chief executive Franco Soberano told reporters in a recent briefing.

Soberano said the project is undergoing schematic design with its Japanese partners and will consist of eight mid-rise buildings connected by a common podium.

The development is planned as a multi-phase, Japanese-inspired residential and retail condominium project targeting the middle- to upper-middle-market segment.

“Most of the Japanese-inspired projects are in the high-end, so we want to bring that kind of design and concept to a more affordable level,” Soberano said.

The property sits beside the new National University campus and near SM City East Ortigas. The project is expected to benefit from planned road improvements and better transport connectivity in the area.

CLI reported earlier this month that it is preparing to launch more than 11 projects worth an estimated P25 billion in the second half of 2026 to replenish its inventory.

The planned launches cover more than 5,600 units across Cebu, Mactan, Ormoc, Butuan, Davao and Panglao.

In the first half of the year, CLI registered a 20 percent decline in net income to P2 billion as the timing of project launches and revenue recognition weighed on its bottom line.

Consolidated revenue fell 1 percent year-over-year to P10.2 billion in the first half, while real estate sales slipped 2 percent to P9.7 billion due to delays in License to Sell approvals.

The article was originally published in Manila Standard and written by Jenniffer B. Austria.

If you like this article, share it on social media by clicking any of the icons below.