LISTED Visayas-Mindanao real estate developer Cebu Landmasters Inc. (CLI) is looking to expand to Luzon via a project targeted for implementation next year.

In a forum after the firm’s annual stockholders’ meeting on Thursday, CLI Chairman and Chief Executive Officer Jose Soberano 3rd noted that demand had risen for their projects.

“Next year is something that we can easily target,” he said when asked about the firm’s plans for Luzon.

“This will also depend on the location, and on how strategic the property will be, and this main development can be blended with some of our formats as well,” Soberano added.

Senior Executive Vice President and Chief Operating Officer Jose Franco Soberano said the firm was still considering all options but was inclined to go with introducing its economic housing brand Casa Mira.

“We are sure to bring in our economic housing format Casa Mira, our number one selling brand, and this will definitely be a hit,” he claimed

“I feel that our type of affordability with quality will create a very new fan base over there in Luzon.”

The developer is looking to launch P29.75 billion worth of pipeline projects to further solidify its growth trajectory after a strong 2022.

CLI launched close to 5,000 units across 16 projects worth P19.36 billion last year. Its business portfolio also surpassed the 100 mark with a total of 109 projects spread across 16 cities in the Visayas and Mindanao.

The firm is also looking to establish a foothold in the hospitality industry with three projects to open in this year.

It is also focusing on its leasing business with the addition of 4,000 square meters worth of gross leasable area, largely from the Davao Global Township.

A real estate investment trust could be launched in two to three years, officials said.

CLI’s share price went up by 4 centavos to P2.59 on Thursday amid a 0.72-percent drop for the benchmark Philippine Stock Exchange.