Century Properties Group Inc. is planning to raise US$150 million from a public offering of US dollar-denominated bonds which will be listed with the Singapore Stock Exchange.
In a disclosure to the Philippine Stock Exchange, Century Properties said the planned fund-raising activity has been approved by its board of directors including the hiring of financial advisers for the transaction.
Century Properties has pre-sold P15 billion worth of condominium units in six residential buildings scheduled for completion in 2015 on the back of continuous strong demand from the overseas Filipino market.
The firm said reservation sales came from its affordable to mid-market projects. Also included is the luxury development Milano Residences at Century City, Makati.
Its mid-market projects are Positano and Miami towers of Azure Urban Residences in Parañaque, Niagara and Sutherland towers of Acqua Private Residences in Mandaluyong, and Osmeña West tower of the Residences at Commonwealth in Quezon City.
The six projects have a total of 3,000 units, of which approximately 95 percent are sold.
Century investor relations director Kristina Garcia attributed the strong sales to the real demand for mid-market and affordable housing from overseas Filipino workers.
“We continue to give importance to the largely underserved overseas market with its strong demand and the strength of OFW remittances. This market is 11 million strong and spread across all continents,” she noted.
Garcia added that OFWs are profiled as prudent spenders of their hard-earned income and are mostly end users.
“Our marketing strategy was validated by recent reports, which showed that the Philippines still has a serious shortage of housing units with a backlog of almost 4 million units for affordable housing alone,” Garcia pointed out.
Century Properties is one of the first real еstatе firms to create a strong international presence to cater to Filipinos overseas. The company has established over 70 international offices and selling partners throughout 3 continents.
Locally, the company sees the Philippines’ growing population and the increasing number of young income earners as key drivers of the demand for affordable homes, while high net worth individuals and foreign expatriates will sustain the momentum for luxury properties.
As Century Properties pursues its business expansion into commercial leasing properties, Garcia said it will continue to boost its residential portfolio of innovative projects that cater to global Filipinos and foreigners.
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