Rеal еstatе developer Century Properties Group Inc. posted strong growth in pre-sales for the second quarter of the year on continuing strong housing demand from overseas Filipino workers (OFW) and the strong take-up in the office space segment.
In a disclosure posted on the Philippine Stock Exchange website Tuesday, Century said pre-sales for the second quarter of 2015 increased to P4.49 billion, a 46 percent increase from the P3.07 billion registered in the first quarter.
The company said the growth was largely due to sales from its projects such as the Century Spire Offices in Makati City, the Bahamas tower in Parañaque City and the Quezon South tower in Quezon City.
Century also said it has completed three projects in the first half, namely Commonwealth Osmeña West Tower, Acqua Niagara Tower and Azure Positano, all of which have been 98 percent pre-sold as of June 2015.
Of its current inventory of launched projects, around 90 percent have been pre-sold in terms of units.
Century Properties said it is focused on completing 22 vertical developments in the near to medium term, which will total 770,000 square meters of gross floor area.
For 2015 alone, it plans to complete six towers with close to 3,000 units worth P15.78 billion in total sales, of which 97 percent have already been pre-sold.
It also disclosed plans of adding new developments for its retail and office portfolio.
“In addition to its condominium and for sale office developments, Century Properties continues to build its recurring income portfolio, which will be comprised of retail and office spaces totaling 193,000 square meters of gross leasable space by 2019,” the company said.
Earlier this year, Century announced that it was diversifying into leisure and tourism and horizontal developments for first-time homebuyers.
Century Properties Group director for investor relations Kristina Garcia said she was optimistic about the growth of the country’s real еstatе industry.
“We continue to have a positive outlook on the Philippine real еstatе industry and remain in a high growth mode. Our optimism, however, is calculated. We will enter markets where there is determined demand, albeit where there is a serviceable gap between supply and demand,” said Garcia.
For the first half of the year Century Properties’ total revenues amounted to P6.17 billion, of which revenue from real еstatе sales amounted to P4.98 billion, a slight increase from the P4.75 billion registered in the same period last year.
Net income attributable to equity holders of the parent company amounted to P1.01 billion for the first half, compared to P1.06 billion in the same period last year. At the end of the first half, the company had total assets of P35.43 billion and total equity of P14.11 billion.
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