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Century set to complete 7 condo projects in 2 years

Costing about P20 billion

Century Properties Group, Inc. (CPG.PM) is set to complete seven residential condominiums in the next two years after successfully finishing construction of six residential projects in 2015.

In a statement, the firm said “this marks a banner year for the company in terms of number of project completions in a single year, since listing on the local bourse in 2012.”

The completed projects, located in Century’s master-planned communities, total 3,000 units and are 97 percent sold with a total sales value of P16 billion.

Specifically, the completed condominium developments are the Positano and Miami towers at Azure Urban Resort Residences in Parañaque City, the Niagara and Sutherland towers at Acqua Private Residences in Mandaluyong City, the Osmeña West Tower at Commonwealth by Century in Quezon City, and The Milano Residences, with interiors designed by Versace Home, at flagship Century City in Makati.

In line with its Century 2020 blueprint, Century is on track to completing another seven residential condominiums within the next two years. The projects, with a total of 3,100 units, are 95 percent sold and have a sales value of P20.3 billion.

These are the Maldives and Maui towers at Azure, Acqua Livingstone and Dettifoss towers at Acqua, Quezon North and Roxas East towers at Commonwealth, and Trump Tower at Century City.

In addition to its residential projects, the company is also in the process of diversifying into allied real еstatе segments.

“We believe that the structural story for Philippine real еstatе remains intact and we are steadfast in our commitment to our shareholders to build our business. We are also thankful to our buyers for their trust and confidence in the Century brand,” said Century Investor Relations director Kristina Garcia.

She added that, “at the same time, however, we remain prudent in managing our inventory levels and managing risks, disciplines that built the company over the last thirty years.”

Source: Manila Bulletin | January 28, 2016


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