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Century Properties reports 92 pct take-up of projects

MANILA – Century Properties Group Inc reported robust take-up for its six projects in Metro Manila catering to various market segments.

In a statement, Century Properties co-chief operating officer Marco R. Antonio said 92 percent or 12,289 units from the property developer’s 23 launched buildings have been taken up at end-2012.

The listed property developer said the positive pre-sales momentum last year continued in the first two months of 2013.

“The favorable economic backdrop helped boost market confidence and low homeownership rates are empowering end users and first time home buyers to make wise choices in their property purchases,” Antonio said.

He attributed the strong sales momentum not just to high demand for property but also to the “shift in market preferences for premium products that offer value, quality and investment potential.”

Century Properties’ projects in the affordable segment booked strong sales. The P8-billion Azure Urban Resort Residences has pre-sold 96 percent of the first seven buildings made available for sale, while the P4-billion Residences at Commonwealth by Century in Quezon City has sold 92 percent of the first seven buildings launched.

For its projects in the middle-income segment, Century Properties said the P7-billion Acqua Private Residences in Mandaluyong City has pre-sold its first five buildings.

Century Properties has pre-sold 87 percent and 72 percent of the P3-billion Milano Residences and Trump Tower at Century City, respectively.

Centuria Medical Makati, the medical arts and outpatient building rising within Century City, has pre-sold 84 percent of its 553 clinic spaces mostly to medical doctors and healthcare practitioners.

Century Properties grew its pre-sales by 16.6 percent to P21.4 billion last year from P18.4 billion in 2011, overshooting its P20-billion pre-sales target.

The listed property developer nearly doubled its earnings to P1.4 billion at end-September from the P723 million the previous year, with revenues increasing 104 percent to P7.2 billion from P3.5 billion in 2011.

Source: Interaksyon | March 10, 2013


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