Property developer Century Properties Group (CPG) plans to invest P7 billion this year to boost its affordable residential property portfolio, encouraged by the brisk sales take-up of its debut offering into this segment.
CPG reported that its Residences project on Commonwealth, Quezon City—an eight-tower mid-rise development with units worth P1.5 to P3 million each, and targeting young professionals and start-up families—has attracted strong reservation sales since its recent launch.
“Sales have been brisk, with Century almost fully pre-selling two towers since the launch one month ago. This is positive proof that Commonwealth by Century has been tremendously well-embraced by the public for its affordability and lifestyle offering,” CPG co-chief operating officer Marco Antonio said.
“Our Commonwealth project is only the first of a series of master-planned developments that Century plans to roll out in key cities nationwide for this category. We recognize the demand for residential property outside Metro Manila and this is part of our expansion plans,” Antonio said in a statement.
The P4.1-billion Commonwealth project is a mid-rise development offering a total of 2,300 units and a sales value of over P10 billion.
CPG plans to significantly boost its portfolio for the affordable market segment with its P7 billion allotment to this segment for this year alone.
“The market is hungry for unique products with intrinsic value, and attainable monthly amortization stretched over a two-year to five-year period,” Antonio added.
For the second quarter, CPG reported P5.4 billion in pre-sales, of which 19 percent, 40 percent, and 41 percent came from the luxury, middle-income and affordable markets, respectively.
This suggests the build-up of potential revenue contribution once significant progress on the construction of these projects is made.
Property developers recognize revenues out of pre-sold property units only after construction milestones are reached.
With 26 years in the business of real еstatе development, marketing, and property management, CPG has completed 20 condominium buildings (4,128 units) with a total gross floor area of 548,262 square meters.
It manages 51 properties as of end-2011. CPG seeks to deliver “differentiated, quality real еstatе.”
Designed by the award-winning firm Broadway Malyan with Century’s in-house architecture team, the eight residential towers of CPG’s Commonwealth project are named after the prominent personalities of the Commonwealth period.
Osmeña West, the first building, will rise at 11 floors with 200 units and will be delivered in 2015. Succeeding buildings such as the Quezon, Roxas, Osmeña and Quirino towers will rise to as high as 22 stories.
Units will come in suites and one-bedroom configurations that range from 21 to 49 square meters with an average price of P80,000 per square meter.
Larger-cut two-bedroom units from 64 to 72 square meters worth at least P5 million are also available.
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