Cebu Landmasters clears another hurdle toward Luzon debut

Cebu Landmasters (CLI) push for its efforts to enter the Luzon real estate market is gaining momentum as the competition watchdog approved NTT UD Asia’s 40-percent acquisition in its Luzon-focused unit.

In a disclosure on Tuesday, CLI said the Philippine Competition Commission (PCC) cleared the plan of the Japan-based company to subscribe to voting shares in CLI Luzon Ventures Inc.

NTT UD Asia is a subsidiary of one of the largest Japanese corporations, NTT Group. It is present in Tokyo, New York, London, Boston, Melbourne and Ho Chi Minh City.

In October 2025, CLI said the group, together with NTT UD Asia, started building a P9.2-billion, Japanese-inspired residential project in Cebu province.

For years, CLI has been going strong in the Visayas and Mindanao. According to the 2025 Colliers Real Estate Market Study, the company had a market share of 18 percent in residential takeup.

But for 2026, the group hopes to mark its Luzon debut with about P12 billion in investment.

CLI chair and chief executive officer Jose Soberano III earlier said they were exploring possible projects in Cavite or Batangas.

Just last month, the developer raised P4 billion from its sustainability-linked bond issuance. This gives CLI more financial muscle to expand outside its core markets.

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The firm said the proceeds would help the group deploy over 16,000 additional affordable homes, with some allotted for its entry in the Luzon market.

For the first three quarters of 2025, the company recorded higher consolidated profit, up by 6 percent to P3.1 billion. This happened as it continued to maintain its leadership in the residential property market in the Visayas and Mindanao.

Its revenues also rose by 2 percent to P14.3 billion in the January to September period.

During that period, its residential reservation sales jumped 27 percent to P19.3 billion.