UPSCALE DEVELOPER Century Properties Group, Inc. aims to double profits this year as it looks to book higher revenues from completed and ongoing projects, an official yesterday said.
“For 2012, we are targeting at least a 100% increase in net income from our P866-million mark last year. Due to our significant booked revenues to date, we have near-term visibility on our earnings target,” Jose Carlo R. Antonio, Century Properties chief financial officer, said in a press briefing in Makati City yesterday.
This would mean attaining a full-year net income of at least P1.73 billion against a 2011 income which was already four times higher than the P180 million figure booked in 2010.
For the first quarter alone, Century Properties pre-sold 812 units with a total value of P5.3 billion, which is definitely “higher” than year-ago levels, Mr. Antonio said without citing specific figures.
“Century Properties is on track to achieve its P20-billion pre-sales target for the full year 2012. We remain upbeat about the Philippine economy and property sector, and our first quarter results strengthen our resolve to deliver differentiated projects across multiple price points,” Mr. Antonio explained.
This year, the company expects to start booking revenues from the Gramercy Residences condominium which is under construction, as well as from a mall project in Century City, a master planned development located in Makati City.
Revenues in 2011, composed of real еstatе sales, property management fees, and interest, climbed by 53.09% to P4.70 billion from P3.07 billion, year on year.
“Century Properties believes it was able to attain this growth in large part due to its efforts to sell to Filipinos living overseas, as well as foreign nationals. In 2011, approximately 67% (in terms of value) of Century Properties’ pre-sales came from international markets,” the company said in a separate statement released yesterday.
Meanwhile, company costs and expenses expanded by 23.66% to P3.45 billion in 2011.
Century Properties had already completed 4,128 units in 20 condominium buildings, all with a total gross floor area of 548,262 square meters.
It has a present land bank of 1.97 million square meters in Quezon City and Nasugbu, Batangas for mixed-use and tourism projects, respectively.
“These projects continue Century Properties’ strategic shift from developing single building projects to master planned communities,” the company said, adding that these projects’ master planning were already underway.
Century Properties, established in 1986 listed over 40 projects in its total portfolio as of last year.
It debuted on the Philippine Stock Exchange last September via a backdoor listing, replacing energy firm East Asia Power Resources Corp.
Century Properties shares shed 0.63% to close at P1.59 yesterday.
To our Century Properties partners, stakeholders, and communities,
As we closely monitor the developments on the coronavirus (COVID-19) and the government’s declaration of a community quarantine in the National Capital Region, we recognize that we have entered a unique and challenging time.
Despite this, we want to assure you that your safety and well-being are our priority. We are grateful that you continue to choose us as your partner and developer, and trust us to handle your business, property investment, and home with utmost professionalism and genuine care.
To safeguard your health, we have implemented steps to ensure that all safety measures and guidelines from the Department of Health and the World Health Organization are disseminated to our properties and communities, and our property management teams are well staffed and prepared with the proper contingencies to assist the needs of our tenants and residents. We are prepared for medical emergencies, and protocols are in place should we encounter COVID-19 cases within our properties. We have no reported cases at this time, but we are preparing for all eventualities.
We also augmented our equipment and know-how to implement additional precautionary measures in our communities, including the regular disinfection of common areas and tapping the expertise of hospital-grade cleaning providers to train our teams in applying high standards of sanitation in our properties.
Our employees are likewise important to us, as they are the lifeblood of our operations and services to you. Our valuable concierge, security personnel, housekeeping, and engineering staff will continue to serve you round the clock. And to do so without compromising their health and safety, they have been equipped with protective gear and are strictly observing hygiene measures to reduce the risks of transmission.
Furthermore, our support staff who are servicing our partners, tenants, and property buyers are adopting flexible working arrangements to continue to assist you. We will be open with augmentation from personnel who will be working from home as part of the contingencies we have in place. Our partner and client-facing teams will inform you of any adjustments on this end, and we hope for your understanding as we also protect the health of our employees and their families, and support government efforts to contain the further spread of COVID-19 in the country.
Rest assured that no matter the difficulties, we are here for you and we are here to stay. Our company has been around for 34 years, with our strong foundations built upon the wisdom and experience of our management, and the expertise of our young, committed, and dependable team. We have endured disasters and economic downturns for more than three decades, and with your help and cooperation we can weather this challenge together and come back from this even stronger.
As you also do your personal assessment of what’s going on, let us know how we can help you.
If you have any concerns with your property purchase, call your agent or send our documentations and collections team a message. We are going to provide utmost consideration and assistance to our clients who have been diagnosed with COVID-19. Let’s talk and please don’t worry.
If you are feeling unwell or need medical assistance, call or Viber our building concierge. Our Urgent Care Clinic at Centuria Medical Makati, located in Century City, is open 24 hours for your medical needs should you feel worried about possible coronavirus symptoms or other illnesses.
Retail tenants are also welcome to contact us for questions concerning the latest guidelines from the government as malls and other public-facing establishments reduce operating hours.
In case stores have run out of alcohol, sanitizers, or hygiene kits, let our concierge know and we will do our best to help source them for you.
Contact details of our various support teams are below. Or simply reply to this e-mail so we can have someone assist you immediately.
We are here to help ease your concerns. We are confident that the resilience of Filipinos, coupled with everyone’s perseverance and cooperation, will help our country emerge stronger from this challenge.
Thank you for your time and please remember to take the necessary health precautions for you and your family. We pray for everyone’s safety as we navigate this challenge and will update you as we have new and pertinent information.
MARCO R. ANTONIO
President and CEO
Century Properties Group
Please contact us for your concerns:
Urgent Care Clinic
Centuria Medical Makati
+63 2 7793 8750
Property Management Office
+63 8888 4726
+63 917 589 6560+63 8478 5157
Property Management Office
+63 917 672 4050
+63 2 8860 9500
local 100 and 101+63 2 8860 9500
local 555 and 333