Century Properties Group Inc. said it will spend P4.1 billion to build eight mid-rise residential buildings near Commonwealth Ave. in Quezon City.
The property developer said the project was in line with its move to further expand its product lines from luxury- and middle-income segments of the affordable residential market.
The 4.4-hectare project, called The Residences at Commonwealth by Century, will contain eight mid-rise buildings with 2,300 units.
Century Properties managing director and co-chief operating officer Marco Antonio said the project aimed to lure local and overseas buyers, especially young professionals and startup families with a budget range of P1.5 to P3 million for a home.
The first building will have 11 floors with 200 units and be delivered by 2015. Antonio cited recent reports by property analysts showing a huge demand for housing in the Philippines.
“By entering the affordable price category we would like to tell home buyers that there is a Century home for each budget and preference for location within Metro Manila,” Antonio said.
Units will be offered in suites and one-bedroom configurations that range from 21 to 49 square meters at an average price of P80,000 per square meter. Two bedroom units will have 64 to 72 square meters amounting to P5 million or higher.
Source: Manila Standard Today | July 30, 2012