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Azure project in Pampanga rakes in P1.6B so far

CENTURY Properties Group, Inc. yesterday said pre-sales for Azure North, its eight-hectare township in Pampanga, already hit P1.6 billion in three months after the project was launched in August.

The high-end developer started selling the first two residential towers of its mixed-used Pampanga project ahead of a targeted completion by 2019.

In a statement, the group said it expects to generate P14 billion in sales revenue from those two towers and another seven residential buildings combined.

The buildings will rise on a one-hectare man-made beach and recreational complex, replicating the Azure Urban Resort Residences in Parañaque City.

“We are bringing the world-class residential resort lifestyle to one of Luzon’s most dynamic cities. San Fernando is the perfect home for Azure North as it is the regional center of Central Luzon, with direct access to northern Luzon and the Subic Bay economic zone,” Century Properties Investor Relations Director Kristina Lowella I. Garcia said in the statement.

Century said it is boosting its recurring income business by building commercial spaces for restaurant, retail, and office locators.

“Business Processing Outsourcing and Knowledge Process Outsourcing companies are expected to take up a significant percentage of the office spaces in Azure North.”

Century acquired the property in August last year from House of David Realty and Development Corp.

Azure North is the listed real еstatе developer’s first project in San Fernando, Pampanga and its first foray into an integrated mixed-use development outside Metro Manila.

Source: Businessworld Online | December 18, 2014


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