Publicly listed firm Century Properties Group, Inc. has made significant achievements this year with 2,853 condominium unit completions and bullish business expansion into affordable housing through PHirst Park Homes and commercial leasing.
Under its in-city vertical developments, CPG has fully completed the 9-tower, six-hectare Azure Urban Resort Residences in Parañaque City this November with the turnover of 846 units at its final tower, the Bahamas. Collectively, all nine Azure towers comprise 5,350 units with a total sales value of Php26.2 billion, and with 98 percent of the inventory already sold out.
The company also completed this year the Roxas West tower (500 units) at the 4.4-hectare The Residences at Commonwealth in Quezon City – with an additional 1,015 units expected for completion by the end of the year at the Quirino West and East towers – as well as Acqua Iguazu YOO inspired by Starck tower (492 units) and by next year, the upcoming opening of Novotel Suites Manila.
The turnover of Iguazu this year and the forthcoming opening of Novotel will mark the full delivery of the six-tower Acqua Private Residences masterplan in Mandaluyong City with a total of 3,168 residential units and a sales value of Php 18.4 billion, with 98.6 percent of the units sold out.
Further, Century Properties Group has completed an additional 821 house and lot units as of November 2019 through its affordable housing brand PHirst Park Homes, a joint venture with Mitsubishi Corporation.
Four years ago, the 33-year-old real estate firm embarked on a business expansion program to diversify to commercial leasing to bulk up its recurring income portfolio as well as affordable housing to cater to first-time homebuyers in growth centers outside of Metro Manila.
Two years since its launch, PHirst Park Homes has already rolled out 5 of the 15 masterplanned communities in its pipeline in Tanza, Cavite; Lipa, Batangas; and this year, in San Pablo and Calamba, Laguna; and Pandi, Bulacan. Collectively, this is 84.2 hectares and 8,799 units valued at Php14.8 billion, with Php7.7 billion sold out as of October 2019. A total of 33,000 units will be launched by PHirst until 2023. – BusinessNewsAsia.com