Century Properties Group (CPG) will continue to focus on a growth strategy marked by an expansion of its
portfolio of upper-mid to luxury and affordable housing products this 2022, and offer developments in urban
and key growth areas, continuing to cater to end-users.
“As industry watchers, we have reported shifts in the property preferences of the market post-pandemic,
one finding is that we have seen a sustained interest in house and lot options and thoughtfully planned
vertical communities in key business and growth areas around the country. New standards in living and
lifestyle inclinations have developed that we wish to serve via resuming launches of our in-city products,”
Century Properties Group President and CEO Jose Marco R. Antonio said in his president’s report at the
company’s annual stockholders meeting.
CPG’s In City product line will be led by Monica L. Trajano, a seasoned real estate executive with a vast
experience in project development and operations. It seeks to tap into new markets which have sprung in
recent years. “Our goal is to become the market-maker in key growth areas, but we will veer away from
cookie-cutter developments,” Trajano said, adding that “we are not just filling the gap but enhancing the
communities where we go into.”
CPG’s In City product line will deliver unique products that are the best in their class, the core developments
of which will feature an integration of mid- to high-end horizontal and vertical homes, commercial spaces,
and curated amenities.
On the other hand, CPG’s affordable housing unit and joint venture with Mitsubishi Corporation, PHirst Park
Homes, Inc., continues the execution of its rollout plans with four new launches this year. PPHI is one of
the chief beneficiaries of the proceeds of CPG’s 5-year, P3 Billion bond offering earlier this year. A total of
P1 Billion has been earmarked for the company’s expansion.
The company recently launched its 11th and 12th sites in Naic, Cavite, and Balanga City, Bataan, respectively.
The two other projects, both in Central Luzon will be announced soon. The four new developments will have
a projected combined revenue of P13.2 billion and a total of close to 7,100 units.
Prior to these, PPHI successfully opened 10 master-planned communities, covering 7 provinces across
Central Luzon and CALABARZON, with over 18,000 housing units and a P33.3 billion sales value.
PPHI recorded sustained growth in 2021, with revenue contribution to CPG amounting to P3.90 billion,
P1.64 billion or 73% higher than its P2.26 billion performance in the previous year, helping bring CPG’s
consolidated revenues to P9.4 billion. By the end of December 2021, PHirst Park Homes completed over
3,500 housing units, and turned over 2,400 units.
Executive Chairman Jose E.B. Antonio said “With all the movements in rising interest rates, inflation and
peso depreciation against the USD, real estate has historically proven to be best hedge against inflation.
Century is poised to take advantage of this by delivering great products in great locations. Also, Century
has no USD denominated debt, and thus, is not exposed to peso depreciation against USD risks”.
With regards to 2021 financial performance, despite the challenges that remained last year brought about
by the pandemic, Century Properties posted a net income of P1.27 billion, up by 10% from P1.15 billion in
2020.
Century Properties adopted an overall strategy of preserving and increasing liquidity levels by reducing
operational expenses, reducing CAPEX by focusing on the completion of ongoing projects and phasing new
launches, and maintaining the positive operating cash flows of each of the company’s business segments.
The company’s balance sheet remained strong with its total assets increasing to P54.5 billion from P53.0
billion in 2020 while its cash and cash equivalents, including short-term investment, amounted to P4.7
billion.
