Century Properties, Inc. expects 2014 to be a busy year as it unveils more projects and diversifies its portfolio.
Jose Marco Antonio, co-chief operating officer of Century Properties, said the company will unveil its first tourism-related project this year, a hotel-serviced-apartment.
The company is also set to unveil this year its 8-hectare, P20-billion, mixed-use developer Azure North project in San Fernando, Pampanga, that boasts of the second “Paris Beach Club” the company is developing in partnership with Hollywood celebrity Paris Hilton who is designing it.
Century Properties’ also plans to put up a hotel in the property.
Century Properties will spend P8 billion as capital expenditures this year to jumpstart new developments as well as to finance the completion of existing projects, Azure Urban Resort Residences in Paranaque, Acqua in Mandaluyong City; Commonwealth Residences by Century in Quezon City, and several residential and office developments in the 3.5 hectare Century City in Makati.
“Our capex will be spent mostly on ongoing construction,” said Antonio.
Antonio said Century Properties will bring its co-branding approach, normally with a foreign brand, in its future projects, mostly mixed-use developments.
“A lot of our future projects are going to be mixed-use in nature. The competitive landscape is (such) that it really makes so much not just financial sense but from community point of view to (engage in ) a mixed-use development.
From our experience in Century City, there are really key synergies. The office, the residential, and retail markets feed on each other. You can’t put all residential (developments in one place) because it won’t make sense. At the end of the day everybody has their requirements and you have to cater to (those requirements) for the projects to be sustainable,” said Antonio.
“We’re master-planning several large exciting projects but probably the nearest to launch will be our project in San Fernando, Pampanga,” he added.
Antonio said Century Properties plans to make the Pampanga project attractive not just for locals but also to people who have roots in Pampanga and want to come back.
“One thing from our research has shown is that a lot of people if given a choice would want to purchase (a property in the place) where they grew up. They still have an umbilical cord to their roots,” said Antonio.
“If you have a project in Fort Bonifacio and Makati, your market is wide because you can sell it as ann investment and you can still use it when you’re on vacation. But ultimately, if people want to retire, they also want to be where their family is; where they grew up,” Antonio added.
Complimenting the Pampanga project is another residential development that will rise in Novaliches, currently on the drawing board.
Antonio said the project will cater to the middle-income segment of the market.
“In the Century brand of doing things, we give people more than they expect,” said Antonio.
Apart of Pampanga, Century Properties is putting up a mixed-use development in Cebu City, said Antonio.
For tourism, Century Properties is looking at putting up a hotel in Palawan.
In January, Century Properties announced it will launch projects worth P17 billion for the year.
The company said it is set to complete two buildings equivalent to over 1,000 units.
A week ago, the company formally unveiled the urban beach club designed by Hilton in Azure. Next week the company is set formally unveil the completed Century City Mall on Kalayaan avenue.
Century Properties earlier said that reservation sales for its projects reached P24.6 billion last year, 15 percent higher than the previous year. This is the highest level of reservation sales that the Century Properties achieved in a single year since it became public in 2012 and its 27-year history.
In the last five years, Century Properties has gained premium market leadership by partnering with world renowned brands and designers such as Trump for the Trump Tower at Century City, Missoni Home for Acqua Livingstone residences, Versace Home for Milano Residences, John Hitchcox and Philippe Starck through yoo inspired by Starck for Acqua Iguazu Residences, and Armani and Studio Daniel Libeskind for Century Spire.
Since it was founded 27 years ago, Century Properties said it has transformed 744,576 square meters of space into “premier” residential and office developments in and outside Metro Manila.
Source: Malaya | March 20, 2014