MANILA, Philippines – High-end developer Century Properties Group Inc. is turning over to homeowners and investors four new projects in the company’s community developments.
In a disclosure, the property firm said it will deliver numerous clinic suites, a retail center and upscale residential units in various projects in Metro Manila.
“This month, Century Properties will mark its 28th year in Philippine real еstatе. And the best way to celebrate this milestone is by handing over to our clients the keys to their much-awaited homes and investments,” said company Executive Chairman of the Board Jose E.B. Antonio.
“We will be busy completing projects for them this year and in the next few years,” he added.
Specifically, the firm said it has completed more than 1,300 units of Knightsbridge Residences at Century City in Makati. Unit inspections and turnover have already started this year.
The company’s first shopping center, Century City Mall, is scheduled for soft opening this month. Century Properties said 17,000 square meters of the retail center’s net leasable space is over 90 percent leased out to more than 100 tenants.
Century City Mall will offer a high-end supermarket, premium cinemas, cafés, restaurants, boutiques and specialty stores.
By end-2014, Century Properties said it will turn over more than 500 clinic suites at Centuria Medical Makati, a 28-story outpatient IT-medical arts building also at Century City.
The company is also scheduled to turn over this month close to 600 units at the St. Tropez building of the Azure Urban Resort Residences in Parañaque City. It is the third tower within the nine-building residential resort development, which has already turned over two towers totaling more than 1,300 units in 2013.
Century Properties is projecting continued growth this year on the back of the strength of the property sector.
“Century Properties opened 2014 riding high with a record pre-sales growth, and we intend to keep this momentum going with the same aggressive and impassioned approach we took in the past year,” Antonio said.
Reservation sales of Century Properties reached a new record of P24.6 billion last year, up 15 percent from P21.4 billion in 2012.
The property firm led by the Antonio family will launch at least P17 billion worth of new projects this year while completing the construction of existing developments.
In January to September last year, the company’s net income grew 12 percent to P1.6 billion from P1.4 billion while consolidated revenues rose 12 percent to P8.1 billion.
With 28 years in the business of real еstatе development, marketing and property management, Century Properties has completed more than 20 condominium buildings, transforming 744,576 square meters of space into premier residential and office developments in and outside Metro Manila.
Source: The Philippine Star | February 12, 2014