Cebu Landmasters, Inc. (CLI) is lining up more than P25 billion worth of project launches in the second half as it seeks to accelerate growth following a first-half slowdown caused by delays in new project launches.

The Visayas and Mindanao-focused developer said Wednesday it plans to launch more than 11 projects comprising over 5,600 units in the next six months, replenishing inventory after the timing of Licenses to Sell (LTS) approvals pushed planned launches and fresh inventory into the second half.

The pipeline covers Cebu, Mactan, Ormoc, Butuan, Davao, and Panglao and will mark CLI’s entry into Luzon through its first project in Pasig City.

“We see the first half largely as a timing shift. As approvals come through and fresh inventory returns to the market, we are well positioned to carry this strong underlying demand into our next phase of growth,” CLI President and Chief Executive Officer Jose Franco Soberano said.

“Beyond replenishing our residential pipeline, we are preparing to launch two new estates, deepen our presence across our core VisMin markets, and take our first steps into Luzon. Together with our expanding recurring income businesses, these give us multiple platforms to sustain CLI’s growth over the longer term,” Soberano added.

CLI’s total revenues slipped 1 percent to P10.2 billion in the first half, while real estate sales fell 2 percent to P9.7 billion, largely reflecting the delayed project launches.

Despite limited fresh inventory, CLI said residential demand remained healthy. As of the end of June, its property-for-sale portfolio comprised 107 projects and 45,507 residential units valued at P176.1 billion, with its sell-through rate improving to 95 percent from 92 percent in the previous quarter.

“Our first-half results demonstrate the resilience of our core business. Despite the timing shift in new launches, revenues remained broadly stable, margins stayed healthy, and recurring income continued to grow. With limited fresh inventory, our teams sustained sales across our existing portfolio, reflecting continued demand for our residential projects. This gives us confidence as we bring more projects to market in the second half,” Soberano said.

Consolidated net income stood at P2 billion. Cost of sales was broadly flat year on year, allowing CLI to maintain a gross profit margin of 50 percent.

CLI’s recurring income businesses, meanwhile, posted stronger growth. Leasing revenues jumped 49 percent to P162 million on newly operational commercial assets, an expanding tenant base and the opening of The Paragon Davao Lifestyle Mall.

Hotel revenues rose 15 percent to P231 million, supported by higher occupancy and additional room inventory following the opening of Radisson RED Cebu Mandaue in the first quarter.