Proceeds from the IPO will be used primarily to support expansion in Visayas and Mindanao, according to the company.

“In the long term, I think this would be a very good investment, so this will probably double its price perhaps two to three years from now, because the income growth is easily 30 to 40 percent a year,” Francisco said.
“So my advice: If you’re going to buy it, hold it, don’t sell it,” he added.

Not keen on Luzon expansion

In a press briefing after the listing, Cebu Landmasters President and Chief Executive Officer Jose Soberano 3rd said the company is not keen on setting its footprint in Luzon as the company is enjoying robust momentum, being the top homegrown property developer in the Visayas region.

“We just really want to focus on VisMin [Visayas and Mindanao]. We are strong in that area and we feel that we could manage it a lot better so we know the market much better there,” Soberano said.

“And I think we could manage to maintain our good margins because we’re operating there,” he added.
Nonetheless, he said that the company is grateful to be now a part of the local stock market, “and then, with the efforts of course of BDO Capital and BPI Capital, we were oversubscribed. What could be a better way of seeing this listing today?”

So far, Cebu Landmasters said its developments are 80 percent residential, 20 percent mixed-use.
“But we will not be out of focus on our flagship projects in the midmarket and economic side of residentials,” Soberano said.

CBD in Davao

The company is currently in a joint venture project with other firms to develop a central business district in Davao City.

“It’s a central business district that we are developing. You have to see it also how, the dynamics of the location will come to play–a strategic location like that, you need to put more of the high-end mixed in,” Soberano said.

“There’s going to be a mall that’s going to be present there. In fact, there are mall operators, Manila-based national players already knocking on our doors and hotels,” he added.

The company said it is looking to build a five-star hotel there.

“So that’s going to be a typical business center,” he said, with residential condominiums and office space
particularly for business process outsourcing (BPO) firms.

Cebu Landmasters develops several residential types of projects depending on target market such as middle-class, high-end, and economic housing. It is also slated to build industrial projects and office spaces, with two projects already underway for outsourcing companies.

“I think that’s the edge we bring, and that’s how our leadership will come from aside from our quick turnaround, it’s our diverse offerings. Full range. That makes us unique as a homegrown player there,” Soberano said.

Established in 2003, Cebu Landmasters is a Cebu-based property developer with projects built within the Metro Cebu residential condominium arena, including the Mivesa Garden Residences, Midori, and Velmiro for residential; the 38-storey 38 Park Avenue at the Cebu IT Park for office buildings, and the 180-room The Citadines at the Base Line Center for hotels.