MANILA – Century Properties Group Inc is gearing up for the next stage of growth after reporting that its net income more than doubled last year on the back of record sales.
In a briefing last Friday, Century Properties Executive Chairman of the Board Jose EB Antonio said the real еstatе firm targets to grow pre-sales to P30 billion and hit a profit of P3 billion by 2015, the company’s 30th year in the business.
The financial projections represent a compounded annual growth rate (CAGR) of 15 percent over the three-year period, Antonio said.
“With a healthy economic backdrop underscored by the recent upgrade of the Philippines to investment grade, we are 92 percent sold on 13,370 units we have opened for sale, and are set to complete six buildings with 375,093 square meters by December 2013 alone. Our optimism remains very high for the property sector,” he said.
To achieve its targets, Century Properties must post P85 billion in aggregate sales for the three-year period. Its inventory is valued at P110 billion, P70 billion of which will be from projects under its land bank and P40 billion from existing projects.
Built-in un-booked revenues, completion of projects, un-launched projects from its existing master-planned communities and projects from new land bank will support the attainment of its P3-billion net income projection. By 2017, Century Properties will have 23 buildings with 850, 000 square meters, 48 percent of which should be completed by 2015, Antonio said.
Another thrust on the second leg of its growth plan is to expand its business portfolio by venturing into leasing, which is seen to account for at least 10 percent of the business by 2015. Century Properties is allocating land for 100,000 square meters of commercial properties, mainly from Century City, as well as develop projects in key growth cities outside Metro Manila.
The company capped its initial three-year growth plan that commenced in 2009 with a 114 percent surge in net income to P1.86 billion last year from P866 million in 2011, doubling revenues to P9.6 billion.
Century Properties grew its pre-sales by 16.6 percent to P21.4 billion last year from P18.4 billion in 2011, overshooting its P20-billion target. Bulk of the sales or 74 percent came from the international market.
Century Properties closed the initial leg of its expansion plan with a CAGR of 63 percent in pre-sales, 77 percent in revenues and 221 percent in net income, Antonio said.
“The 2012 financial results reflect the culmination of Century’s sustained performance over the last three years…We look at 2012 as a remarkable breakout year for Century with a solid platform that will enable us to take the company to an even higher level,” Antonio said.
Jose Carlo Antonio, Century Properties co-chief operating officer, said the company will launch 8-9 projects this year, including three buildings from The Residences at Commonwealth in Quezon City, two from Azure Urban Residences and one from Acqua Private Residence. It is also developing plans for two projects in Century City and preparing the master plan for the Novaliches property, slated for launch late this year.
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