CLI dismisses oversupply woes in Luzon bid

Unfazed by the residential oversupply in Metro Manila, Cebu Landmasters Inc. (CLI) has acquired land in the region to jump-start its Luzon expansion.

CLI president and chief operating officer Jose Franco Soberano did not disclose the location of their new property, although he confirmed that they would start building a vertical development by the second half of 2026.

In pursuing a residential project in the National Capital Region despite inventory oversupply, Soberano said they saw investor confidence improving over the next year “when the dust settles.”

“We have the opportunity to bring a very competitive preselling product that allows a buyer to affordably invest over a five- to six-year horizon and plan for home ownership by that time,” Soberano said during a media briefing last week.

81,400 unsold units

Data from real estate broker Leechiu Property Consultants showed that as of the first quarter of the year, there were 81,400 unsold units in Metro Manila across 622 actively selling buildings. This represented three years’ worth of supply.

Still, demand in the first three months of the year had jumped by 14 percent quarter-on-quarter to 6,508 units.

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New launches, meanwhile, slipped to their lowest in five years to 1,347 units, down by 77 percent, as developers focused on marketing their existing inventory.

At the same time, CLI is looking to build a housing development in Cavite province.

This, along with the Metro Manila project, represents CLI’s debut into Luzon after more than two decades of focusing in the Visayas and Mindanao.