Century Properties Group, the real еstatе unit of Executive Chairman of the Board Jose Antonio, expects to sustain the growth momentum over the next three years with reservation sales hitting P30 billion and net income reaching P3 billion by 2015.
Antonio, the chairman of CPG, said in a press briefing the company would aggressively launch new residential projects.
The company is boosting recurring income by allocating over 100,000 square meters of space for commercial, hotels and office developments.
“We are ready to embark to second stage growth. The three-year plan will set the course for us to become a formidable player in the property industry,” Antonio said.
CPG is also venturing into tourism and resort-type of development, which it plans to launch by the second half of the year.
The company raised P5.6 billion in capital from 2010 to 2013 to fund construction of existing projects and acquisition of land for future development. It has P6.6 billion in available credit line from 11 financial institutions.
The company said it had eight buildings that could be launched from existing masterplanned projects. It plans to launch another master-planned community in Novaliches this year.
Source: Manila Standard Today | April 8, 2013