Listed real еstatе firm Century Properties Group Inc. said its marketing strategy to cater to the needs overseas Filipino workers (OFWs) and foreigners has paid off as it registered double-digit growth in reservation sales last year.
In a statement disclosed to the Philippine Stock Exchange Tuesday, Century Properties said reservation sales grew by 15 percent to P24.6 billion in 2013, the highest level it achieved since it went public in 2012 and its 27-year history.
The company attributed the growth to the continuing expansion of the real еstatе industry and the unwavering strength of OFWs and remittances.
“Given the strength of OFW remittances, even during the global financial crisis, we purposely differentiated our marketing strategy to cater to the needs OFWs and foreigners,” chairman and CEO Jose E.B. Antonio was quoted as saying.
“Over the years, we have created a strong international sales and marketing team, which have enabled us to access the underserved overseas market,” he added, noting the company now have over 60 international sales offices and affiliates in four continents.
The company said reservation sales came from its Century City, Azure Urban Resort Residences, Acqua Private Residences, and Commonwealth by Century locations.
For this year, Century Properties is aiming to launch at least P17 billion worth of new projects.
In the first nine months of 2013, the company booked a 12-percent jump in net income to P1.6 billion year-on-year while consolidated revenues grew by 12 percent to P8.1 billion.
Source: GMA News Online | January 28, 2014