Cebu Landmasters Inc., the leading local developer in the Visayas and Mindanao, expects the leasing business to contribute 10 percent to total revenues by 2023.
CLI president and chief executive Jose Soberano III said in a disclosure to the stock exchange the company aimed to increase recurring revenues by 2023, with leasing portfolio seen to exceed 200,000 square meters.
Soberano said the company was expecting the expansion of recurring income streams within the next four years while completing ongoing commercial leasing projects.
These projects include the Base Line HQ, Latitude Corporate Center, The Plaza at 38 Park Avenue, Astra Centre Lifestyle Mall, Astra Corporate Center, The Paragon Davao Lifestyle Mall and The Paragon Convention Center and Phase 1 of the Davao Global Township.