CLI’s P5B bonds fund housing expansion

Listed property developer Cebu Landmasters Inc. (CLI) has successfully listed P5 billion worth of sustainability-linked bonds (SLB) on the Philippine Dealing & Exchange Corp. — a fundraising activity supporting the company’s push to help address the country's housing backlog.

“Our mission at Cebu Landmasters has always been clear: to build communities where Filipino families can thrive,” CLI Chairman and CEO Jose Soberano III said during the listing ceremony on Friday.

“With this sustainability-linked bond, we are strengthening that commitment by holding ourselves accountable to a measurable target—building 16,000 more affordable homes by 2028. In just five years, we will more than double what we have achieved over the past two decades.”

The SLB issuance is the second tranche of CLI’s P15-billion shelf-registration program, with P5 billion remaining for future issuances. The Series D and E bonds, maturing in 2028 and 2030, were well-received in the market.

The Series D bonds, totaling P2.86 billion, carry an interest rate of 6.6348 percent, while Series E bonds, worth P2.14 billion, have an interest rate of 6.9157 percent.

The SLB, tied to environmental, social, and governance goals, is the first of its kind in the real estate sector with affordable housing as the key success metric.

To date, CLI has already built over 14,000 affordable housing units and is on track to exceed 30,000 by the bond’s maturity.

CLI is expanding into Luzon with a P12-billion investment, marking its first major venture outside its VisMin base.

By 2026, CLI plans to launch residential projects in South Luzon, specifically in Laguna, Batangas, and Cavite, starting with a house-and-lot community to meet local demand. The company will also develop a two-tower mixed-use residential project near Metro Manila.

CLI said it is already in talks with property owners to secure sites for future developments, leveraging its experience from over 130 projects across Visayas and Mindanao.