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Century Properties to complete additional buildings

SHIFTING into high gear, Century Properties Group Inc. is projected to turn over a total of 16 buildings from across its portfolio of luxury, middle-income and affordable residential condominiums, as well as retail and medical office developments, up to 2017.

“The next years will be very busy for the company as we see through the completion of our projects. More important, this period will be a joyous occasion for unit owners who are looking forward to the projects’ completion and turnover,” said Marco R. Antonio, President and CEO of Century Properties.

This year the 28-year-old property firm began this series of project completions in March, when it launched the Century City Mall, Makati City’s newest mall in nearly a decade. The 50,000-sq-m, five-level lifestyle center is seen to generate close to P200 million in annual revenues once stabilized and fully let, as part of the company’s plan to develop assets with recurring revenue streams.

Century also turned over the 580-unit St. Tropez tower, the third residential building at the Azure Urban Resort Residences in Bicutan, Paranaque. Coinciding with this was the inauguration of the beach-themed development’s amenities, such as a 3,500-sq-m man-made beach and the Paris Beach Club designed by Paris Hilton. Two additional residential towers are slated for turnover in Azure next year.

Centuria Medical Makati, an outpatient IT-medical arts building, will be turned over at the end of this year. The 28-story project is Century Properties’s contribution to medical tourism and the improvement of outpatient care in the country. It is poised to attract residents from its local catchment area within its luxury residential buildings, the Century City Mall, and its neighboring communities, as well as medical tourists who seek outpatient medical care for its convenience, value for money and modern technology.

Located in the Philippine Economic Zone Authority-registered IT Park within Century City, Centuria will be equipped with a modern IT backbone to support its varied locator’s connectivity requirements. Centuria will also offer medical concierge services.

Also located within Century City is the Milano Residences, a 53-story luxury tower with interiors designed by Versace Home. The tower completed its structural phase of construction this month and is on track for turnover by the end of 2015.

By next year, Century Properties’s Mandaluyong project, Acqua Private Residences, will complete the Niagara and Sutherland towers, its first two towers within its 2.4-hectare tropical rain forest-themed development. The property will feature landscaped gardens with an exclusive clubhouse called The Pebble, located in front of the regenerating Pasig River.

The company’s first development in Quezon City will also see the turnover of Osmeña West, the first tower at the Residences at Commonwealth.  The project is the first multilevel vertical village in the area that also highlights a nurturing and holistic environment for every member of the family.

Azure Urban Resort Residences and Acqua Private Residences cater to the middle-income segment, while Commonwealth by Century is aligned at an affordable price point.

In 2016 Century Properties will turn over the luxury project Trump Tower at Century City, aside from its other projects in Azure, Acqua and Commonwealth. The Trump Tower is a collaboration with the Trump Organization highlights New York-inspired luxury living that is consistent in all Trump-branded property across the world.

In a previous announcement, the company said it is expected to complete 31 buildings or 1.67 million sq m, spanning 2012 to 2019. In its 28-year history and prior to its listing in 2012, Century has already completed 25 condominiums totaling 873,127 sq m, with 8,777 units.

Source: Businessmirror | August 26, 2014


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