AS experts forecast the exponential growth in the country’s BPO and retail industries in the coming years, listed real еstatе company Century Properties Group, Inc. has firmed up its plans to bring its tradition of innovation into these industries, and seize opportunities to grow the company’s recurring revenue streams.
The company has earned a reputation for challenging the status quo in its residential developments. It has led the upscale to premium real еstatе niche to newfound heights in recent years, with a success rate that industry observers have pronounced as game-changing.
To bolster its position within the real еstatе industry and to tap into new markets given the evident increase in the purchasing power of local consumers, Century has begun projects in retail and office space. It earlier announced that it is expected to complete six commercial buildings totaling roughly 160,000 square meters by 2019. Such projects are expected to provide the company with a stable and balanced stream of cash flows.
Early this year, the company completed its first such project, the Century City Mall. The first mall in Makati in close to a decade, Century City Mall is positioned as the Mall of Modern Makati, a project that gives rise to the new crop of shopping centers called “boutique malls.” The five-storey retail and lifestyle center complements the company’s master-planned community Century City and likewise caters to the communities close to it.
The company is also looking into expanding this new portfolio in its other master-planned developments.
Source: Malaya | July 9, 2014