Century Properties Group, Inc. (“CPGI”) is one of the leading real estate companies in the Philippines, with over 38 years of experience. The Company is primarily engaged in the development, marketing, and sale of mid- and high-rise condominiums and single detached homes, leasing of retail and office space, and property management.
As of December 31, 2023, the Company has completed 38 projects, which include 33 residential projects consisting of (a) 17,479 completed residential condominium units with an aggregate gross floor area (“GFA”) of 1,238,635 sq. m. (inclusive of parking) for its vertical housing developments, and (b) 1,110 single detached homes with an aggregate GFA of 224,113 sq. m. for its Canyon Ranch and Commune Village at Batulao developments. The Company also has five (5) commercial leasing projects with 1,267 units and gross leasable area (“GLA”) of 145,021 sq. m. These include the Century City Mall, Centuria Medical Makati, Asian Century Center, Century Diamond Tower and Novotel Suites Manila at Acqua.
Since its entry into the horizontal affordable housing development market in 2017 through its PHirst Home Developments (PHirst), the Company has already launched 20 master-planned communities and completed 9,010 homes as of 31 December 2023.
In addition, the Company has completed 19 buildings consisting of 4,128 units with an aggregate GFA of 548,262 sq. m. prior to 2010 by the Meridien Group of Companies (“Meridien”), the founding principals’ prior development companies. Noteworthy developments of Meridien include: the Essensa East Forbes and South of Market in Fort Bonifacio, SOHO Central in the Greenfield District of Mandaluyong City, Pacific Place in Ortigas, Le Triomphe, Le Domaine, and Le Metropole in Makati City.
The Company, through its ISO certified subsidiary Century Properties Management, Inc. (CPMI), also engages in a wide range of property management services, from facilities management to lease and secondary sales. Through CPMI, the Company endeavors to ensure the properties it manages maintain and improve their asset value, and are safe and secure. As of May 31, 2024, CPMI manages more than 8.3M square meters in GFA of properties covering over 60 projects with almost 90 buildings and 15 villages. Of the total CPMI projects under management,59% developed by third parties. Notable third-party projects: One Corporate Center and Union Bank Plaza in Ortigas, Pacific Star Building and Pacific Plaza Condominium in Makati City, Emerson Electric Asia Ltd and National Grid Corporation of the Philippines in Quezon City, Embassy of the Republic of Singapore and Essensa East Forbes in BGC Taguig, De La Salle Lipa in Batangas, various buildings of Philippine National Bank located in Pasay City, Naga, and Bacolod and horizontal residences including Avida Settings in Cavite and AboitizLand, Inc. in Cebu and Batangas.
In February 2023, the Company, through PHirst Park Homes, announced the expansion of its residential offerings through its subsidiary, Century PHirst Corporation (CPC), targeting socialized, economic, and mid-income markets. CPC’s flagship projects include PHirst Editions Batulao in Nasugbu, Batangas, PHirst Sights Bay in Laguna, and PHirst Centrale Hermosa in Bataan. PHirst Editions Batulao, CPC’s first middle-income development, spans 14 hectares and with 629 units priced from P3.2 million to P6 million, with a total sales value of P3 billion.
In 2023, PHirst launched its new campaign, “The Home of Many Firsts,” to provide an elevated housing experience and a platform for first-time homebuyers. PHirst also unveiled its very first project in the Visayas region, PHirst Park Homes Bacolod, kicking off its Visayas-Mindanao expansion.
In March 2023, the Company listed P3 billion in Fixed Rate Retail Bonds on PDEx, rated “AA+” by the Credit Rating and Investor Services Philippines. In May 2023, the Company secured full ownership of PHirst Park Homes and Tanza Properties by acquiring Mitsubishi Corporation’s 40% stake for P1.4 billion, completing the deal in November 2023 after regulatory approval in August 2023. In July 2023, the Company fully redeemed its P3 billion Preferred Shares issued and listed on the PSE in January 2020.
In November 2023, Novotel Suites Manila at Acqua in Mandaluyong City, the Company’s first project in the hospitality industry, formally opened to the public.
The Company’s principal shareholder is Century Properties, Inc. who owns 7,536,959,787 shares or 64.98% as of December 31, 2021. Public ownership of the Company is at 32.48%.
The Company’s principal shareholder is Century Properties, Inc., which owns 7,912,834,947 shares or 68.22% as of December 31, 2023. Public ownership of the Company is at 29.24%.
In 2006, the Company bought a portion of the lot formerly occupied by the International School of Manila. Using its experience in developing buildings and infrastructure, the Company incorporated CCDC on December 19, 2006 to expand Century’s business into large-scale mixed-use developments. Presently, the said area located in Kalayaan Avenue, Makati is the venue for CCDC’s residential projects: Milano Residences, The Gramercy Residences, The Knightsbridge Residences, and Century Spire. It also houses the Centuria Medical Center, a one-stop outpatient medical-IT facility; and Century City Mall.
The company capped its 2023 operations with a consolidated net income after tax of P1.9 billion, a 10-year high NIAT level that surpassed the pre-pandemic performance of the Company. The Company’s total revenues amounted to P12.7 billion, with contributions of P7.4 billion from PHirst, P3.5 billion from In-City Vertical Developments, P1.4 billion from Commercial Leasing segments, and P0.5 billion from the Property Management segment.
The minimum schedule date is tomorrow.
