The P1-billion retail development in Makati City owned by Century Properties Group has already opened, maximizing the listed real estate firm’s retail space portfolio.

Century City Mall is the first shopping mall project of Century Properties located within the property group’s eight-building master-planned development in Makati.

This project, according to the company, will expand its portfolio to recurring income sources with 17,000 square meters of the retail center’s net leasable space leased out to more than 100 tenants.

“We are bringing our experience and expertise in property development into this exciting new venture,” said Marco Antonio, Century Properties co-chief operating officer.

“We will work to continuously improve the shopping experience in our mall, and we look forward to opening more shops in the coming weeks,” he added.

Century City Mall has three high-end cinemas equipped with 5.1 Dolby surround sound systems, as well as one premiere cinema with 60 fully automated leather seats and a 7.1 Dolby Atmos surround sound system.

The mall directly serves two of Century Properties’ completed residential tower in the Century City complex.

Earlier this year, Century Properties said that it will launch P17-billion worth of new developments within this year amid the unprecedented reservation sales it had in 2013.

In an earlier disclosure to the Philippine Stock Exchange, it was disclosed that Century Properties has targeted to launch at least P17-billion worth of new projects, inclusive of the recently launched Century Spire interior designed by Armani Casa, for this year in its in-city locations.

The property company also expects to complete two buildings in the next few months equivalent to over 1,000 units.

Source: The Manila Times | February 16, 2014