Announcement • Jul 02
Cityland Development Corporation (PSE:CDC) completed the acquisition of an additional 19.35% stake in City & Land Developers, Incorporated (PSE:LAND). Cityland Development Corporation (PSE:CDC) agreed to acquire an additional 19.35% stake in City & Land Developers, Incorporated (PSE:LAND) for approximately PHP 160 million on August 26, 2025. As part of the acquisition, Cityland Development Corporation will acquire remaining 305.4 million shares in City & Land Developers, Incorporated. The consideration consists of issue of 1.39 billion ordinary shares of Cityland Development Corporation at a ratio of 0.88 per common equity of City & Land Developers, Incorporated. Upon completion, Cityland Development Corporation will own 100% stake in City & Land Developers, Incorporated. Cityland Development Corporation will continue its corporate existence under Philippine law, absorbing all of City & Land Developers, Incorporated’s assets, liabilities, rights, and privileges. Cityland Development Corporation, as the surviving corporation, will assume all existing obligations of City & Land Developers, Incorporated, thereby ensuring continuity and full protection for creditors and stakeholders. Operationally, Cityland Development Corporation will assume all ongoing projects and obligations of City & Land Developers, Incorporated, ensuring business continuity and full protection for creditors and stakeholders. The consolidation is expected to simplify decision-making, align strategic directions, and allow Cityland Development Corporation to focus on its core real estate development activities under a unified structure.
The transaction is subject to regulatory approvals, approval of offer by the shareholders of Cityland Development Corporation and City & Land Developers, Incorporated. The deal has been approved by the board of directors of Cityland Development Corporation and to increase the number of Board seats from 9 to 10. The plan of merger was approved by the stockholders of Cityland Development Corporation and City & Land Developers, Incorporated during their respective Special Stockholders’ Meetings held on October 9 and 10, 2025, respectively. On October 13, 2025 the Philippine Competition Commission issued a Letter of Non-Coverage, confirming that the proposed merger qualifies as an internal restructuring and it is not anticompetitive and has approved the transaction. The transaction is still subject to approval and execution of the Plan and Articles of Merger with the Securities and Exchange Commission and the company has yet to determine the timetable for the implementation of the merger, as it remains subject to corporate and regulatory approvals.
Cityland Development Corporation (PSE:CDC) completed the acquisition of an additional 19.35% stake in City & Land Developers, Incorporated (PSE:LAND) on July 1, 2026. Announcement • Apr 23
City & Land Developers, Incorporated, Annual General Meeting, Aug 06, 2026 City & Land Developers, Incorporated, Annual General Meeting, Aug 06, 2026. Reported Earnings • Apr 15
Full year 2025 earnings released: EPS: ₱0.12 (vs ₱0.07 in FY 2024) Full year 2025 results: EPS: ₱0.12 (up from ₱0.07 in FY 2024). Revenue: ₱859.4m (up 121% from FY 2024). Net income: ₱192.0m (up 73% from FY 2024). Profit margin: 22% (down from 29% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. 
