MANILA – Century Properties Group Inc has firmed up its tourism ventures as it builds more mixed-use projects.
Century Properties chief co-operating officer Jose Marco R. Antonio told reporters last week the real еstatе company is venturing into the development of serviced apartments in partnership with a foreign brand.
“This new hotel serviced apartment that we will be launching in the next couple of months will also cater to the tourism market,” Antonio said, adding that the project will be located in Metro Manila.
Century Properties is also finalizing the master plan to transform a 142-hectare property in Batulao, Batangas — owned by Group Developers Inc, Caylaway Development Corp and Batulao Bio-loop Farms Inc — into a leisure project.
“What we want to create is we want to respect the environs. We want to build something that is sustainable, not an eyesore but, in fact, at the other end of the spectrum, something beautiful,” former ambassador Jose EB Antonio said.
Century Properties is also evaluating the development of a hotel in Palawan. The former ambassador earlier said the company had acquired close to 100 hectares of land in various areas in Palawan.
Following the success of Century City in Makati, the real еstatе firm will soon launch two large-scale, mixed-use projects located in the Novaliches area catering to end-users in the middle-income market and another one in Pampanga.
The Pampanga project, the company’s first outside Metro Manila, will have residential, office, hotel and retail components. The eight-hectare property was acquired from House of David Realty and Development Corp last year.
“A lot of future developments will be mixed-use in nature. These are larger parcels and you can’t fill all with residential and it won’t make sense. At the end of the day, everyone has their requirements, their conveniences and you have to cater to that for it to be sustainable,” Antonio said.
In the last five years, Century Properties has developed premium residential towers through its partnership with world renowned brands such as Trump for the Trump Tower at Century City, Missoni Home for Acqua Livingstone residences, Versace Home for Milano Residences, John Hitchcox and Philippe Starck through yoo inspired by Starck for Acqua Iguazu residences, and Armani and Studio Daniel Libeskind for Century Spire.
Century Properties’ nine-month earnings rose 12 percent to P1.6 billion last year from the P1.4 billion in the same period in 2012 on higher residential sales.
The condominium developer reported that reservation sales jumped 15 percent to P24.6 billion, the highest in the company’s 27-year history and beating its full-year target of P24 billion.
Source: Interaksyon | March 10, 2014