MANILA, Philippines – Century Properties Group Inc. has reported strong residential uptake in its first integrated mixed-use development outside of Metro Manila.
In a disclosure to the stock exchange, Century Properties said Monaco and Bali, the first and second residential towers of Azure North, have already generated combined pre-sales of P1.6 billion in three months.
Including Monaco and Bali residential towers, the entire Azure North development will have seven planned residential buildings with projected total sales revenues of P14 billion.
Azure North is Century Properties’ first development in San Fernando, Pampanga and the firm’s foray into an integrated mixed-use development outside Metro Manila.
Century Properties said the eight-hectare Pampanga development marks the company’s move to diversify its portfolio geographically as it targets key growth cities in the Philippines to build masterplanned communities with residential, commercial, hotel and institutional uses.
“We are excited about the prospects of Azure North. Our sales take-up figures are proof of the strength of the city’s economy and the strength of the Century brand,” said Century Properties investor relations director Kristina Garcia.
Century acquired the Pampanga property in August last year from the House of David Realty and Development Corp.
The property is located north of Metro Manila, within the San Fernando Interchange on Jose Abad Santos Avenue and the North Luzon Expressway and is situated across the SM, Robinsons and S&R malls in San Fernando City.
Century Properties said it would build a man-made beach in Azure North that will be similar to that in the Azure Urban Resort Residences in Parañaque City.
“We are bringing the world?class residential resort lifestyle to one of Luzon’s most dynamic cities.
San Fernando is the perfect home for Azure North as it is the regional center of Central Luzon, with direct access to northern Luzon and the Subic Bay economic zone,” Garcia said.
Source: The Philippine Star | December 19, 2014