Century Properties Group, Inc. (CPG) is expanding into leisure and tourism with the launch of a 54-hectare development in Batangas expected to bring in P19 billion in sales revenues.
In a statement over the weekend, CPG said its subsidiary Century Limitless Corporation will develop Batulao Artscapes, described as the “world’s first liveable art park.”
Batulao Artscapes will feature houses designed by local and international architects, and marks CPG’s first horizontal development in the leisure and tourism segment. This is also part of the company’s 142-hectare lot in Nasugbu, Batangas, which is expected to have a sales value of more than P50 billion once fully developed.
The еstatе will be divided into four villages, each featuring the design aesthetics of different architects. CPG has tapped architect Eduardo Calma for Cluster Village, and Budji Layug and Royal Pineda for Commune Village. Designer Kenneth Cobonpue’s creations will be the main attraction for Commune Village.
Meanwhile, the fourth section will be called Curated Village 1, which will include 12 houses each with a different design from various architectural firms, such as David Salle + AA Studio, Marcel Wonders, Marmol Radziner & Kravitz Design, and Philip Johnson Alan Ritchie Architects, among others.
“Our vision is to create a design-driven community that celebrates art and adventure in an expansive natural landscape,” CPG Head of Investor Relations Kristina Lowella I. Garcia said in a statement.
Houses inside the еstatе will be sold from P4 million for a 56-square meter property to P17.4 million for houses inside Curated Village 1.
As part of the project, CPG will develop a man-made beach, a clubhouse, and a lake with a wedding chapel. The company will also be constructing a sports park and art park with museums.
For Batulao Artscapes, the listed property developer targeting families, weekend adventure seekers, and retirees. CPG will provide special assistance for foreign nationals and former Filipino citizens to acquire a Special Resident Retiree’s Visa.
CPG is banking on the location of the project, situated 1.5 to two hours from Makati through the Nasugbu-Kaybiang Tunnel, Star Tollway to Tanauan Exit, South Luzon Expressway, or Cavite Expressway, to draw buyers.
The company also cited the construction of the 49-kilometer Cavite-Tagaytay-Batangas Expressway by the first quarter of 2019 to cut travel time to less than an hour.
CPG has been diversifying its product mix by venturing into retail, office, and leisure development, from previously focusing on high-end condominium projects with international brand partners. This strategy is expected to transform the company into a multi-platform real еstatе firm by 2020.
“The launch of this spectacular development also affirms CPG’s commitment to pursuing its strategic business plan of diversification into allied real еstatе segments including leisure and tourism,” Ms. Garcia said.
CPG’s attributable profit declined by 17% in the first nine months of 2017 to P538 million, following a 15% slump in revenues to P3.92 billion.
Source: BusinessWorld | November 27, 2017