In line with its office property portfolio expansion, Century Properties Group, Inc. (CPG:PM) has announced the opening of Asian Century Center, a Php1-billion green office building in Bonifacio Global City this December.
The 21-storey tower developed in partnership with Asian Carmakers is expected to contribute an additional 26,913 square meters of leasable space and about Php468 million in annual revenues to CPG’s leasing portfolio once fully leased out.
Asian Century Center is strategically located at 27th Street on the 3rd and 4th Avenues of BGC, close to Bonifacio High Street, Shangri La Fort and the Mind Museum. It is accredited by the Philippine Economic Zone Authority (PEZA) and follows the core and shell rating system of the US-based Leadership in Energy and Environmental Design (LEED), a recognized green building certification system in the world. The project is a pre-certified LEED building.
“CPG is consciously improving its developments to not only conform with modern specifications but also green and sustainable design. Asian Century Center is CPG’s proud addition to its office leasing portfolio as it provides great value to its locators through its superior features, PEZA accreditation and LEED compliance,” said the company’s Chief Operating Officer, Marco R. Antonio.
Asian Century Center is designed with the latest building features including the variable refrigerant flow (VRF) air-conditioning system, a building automation system, 100% backup power with redundancy, and fire detection and alarm systems.
The real estate brokerage services firm Leechiu Property Consultants is the appointed exclusive leasing manager for the tower. In September, CPG also signed with Leechiu to market 58,618 square meters of net leasable space in Century Diamond Tower, a 35-storey premium office building that the company is developing in partnership with Mitsubishi Corporation. The building will contribute Php844 million in annual revenues to the company.
CPG has been diversifying its portfolio by adding to its high-rise condominium projects other segments such as affordable horizontal housing, leisure and tourism developments, and for-lease properties to create a solid four-platform business.
Its recurring income has increased at a double-digit growth rate as CPG moves towards its goal to quadruple its leasing assets. From its current completed gross floor area of about 133,000 square meters, the portfolio will increase to a gross floor area of about 300,000 square meters by 2020 once its leasing projects are completed. Aside from Asian Century Center, Century Diamond Tower is slated to open in 2019. #