REAL ЕSTATЕ DEVELOPER Century Properties Group, Inc. has acquired an eight-hectare land in Pampanga on which it plans to develop a mixed-use project that will generate some P6 billion in sales from the residential component alone, the listed firm said in a statement attached to a disclosure yesterday.
“Century Properties announced the acquisition of close to eight hectares of property in the city of San Fernando, Pampanga from the House of David Realty and Development Corp. to build the said mixed-use development,” the company said.
The value of the deal, which marked the company’s entry into Central Luzon province, was not immediately known.
The company, however, said funding will come from the P1.6-billion equity sale last March.
The property is located north of Metro Manila in the area of the San Fernando Interchange across the SM and Robinsons malls in that city.
“This will form part of a city or town center that the company envisions for the area, to position it as a future central business district in the north,” Century Properties said in its statement.
“The Pampanga development is currently being master-planned, and Century estimates a sales value of P6 billion from the residential portfolio, which will target end users from the middle-income market segment.”
Ladislao S. David, chairman emeritus of the House of David Group, recalled that other parties also offered to buy the property.
“We are pleased with the successful sale of the property to a real еstatе company with a proven track record of delivery and innovation,” Mr. David said.
“Many have expressed interest in developing the House of David property because of its strategic location and vast business potential, but we believe that Century Properties is the right company to do this collaboration with as we share the same family and corporate values.”
Century Properties said it aimed to take advantage of the strategic value of San Fernando City, which was recently ranked as the third most competitive city by the National Competitiveness Council.
“Central Luzon is one of the fast-rising growth centers in the Philippines. Century will contribute to further enhance the competitiveness of San Fernando by building an integrated urban center that will complement the city’s progressive pace,” the company said.
“It is time to expand modern infrastructure into cities like San Fernando for a greater population to experience the country’s advancement.”
Century Properties has earmarked about P7 billion for capital expenditure this year — particularly for land banking and construction — higher than the P4 billion actually spent last year.
The company booked a P500.56-million net income in the first quarter, about 10.36% more than the P453.55 million earned in the same three months last year. Revenues went up 4.84% to P2.60 billion from P2.48 billion, while cost and expenses increased by 1.62% to P1.88 billion from P1.85 billion.
Its shares closed trading yesterday at P1.22 apiece, unchanged from their Tuesday finish.
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