Century Properties Group, Inc. said it has generated sales of P1.6 billion in its Resort Residences at Azure North due to strong buyers take up.
Resort Residences at Azure North is the company’s first development in San Fernando, Pampanga and its initial foray into an integrated mixed-use development outside of Metro Manila.
“This amount of pre-sales has been brisk, generated in only approximately three months,” the company said.
The entire Azure North development will have seven planned residential buildings with projected sales revenues of P14 billion.
The 8-hectare Pampanga development marks the company’s move to diversify its portfolio geographically, targeting key growth cities in the Philippines to build master-planned communities with residential, commercial, hotel and institutional uses.
“We are excited about the prospects of Azure North. Our sales take-up figures are proof of the strength of the city’s economy and the strength of the Century brand,” said Kristina Garcia, Century Properties investor relations director.
Century Properties announced the acquisition of the Pampanga property in August 2013 from the House of David Realty and Development Corporation.
The property is located north of Metro Manila, within the San Fernando interchange on Jose Abad Santos Avenue and the North Luzon Expressway, and is situated across the SM, Robinsons and S&R malls in San Fernando City.
Seeking to replicate the success of the award-winning Azure Urban Resort Residences in Parañaque City, Century Properties said it will also build a man-made beach in Azure North and complement it with organic design elements. Its buildings will be structured around a one-hectare man-made beach and additional recreational amenities.
“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,” Garcia said.
The project also forms part of the company’s growth strategy that taps into the recurring income business with plans to build 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.
Source: Malaya | December 19, 2014