MANILA, Philippines – Shifting into high gear, Century Properties Group is turning over 17 more buildings across its portfolio of luxury, middle income and affordable residential condominiums, as well as retail and medical office developments, up to 2017.
“The next years will be very busy for the company as we see through the completion of our projects. More importantly, this period will be a joyous occasion for unit owners who are looking forward to the projects’ completion and turnover,” said Marco R. Antonio, chief operating officer of Century Properties.
This year, the 28-year old property firm began this series of project completions in March, when it launched the Century City Mall, Makati newest mall in nearly a decade. The 50,000-square meter, five-level lifestyle center is seen to generate close to P200 million in annual revenues once stabilized and fully let, as part of the company’s plan to develop assets with recurring revenue streams.
Century also turned over the 580-unit St. Tropez tower, the third residential building at the Azure Urban Resort Residences in Bicutan, Paranaque. Coinciding with this was the inauguration of the beach-themed development’s amenities such as a 3,500 square meter man-made beach and the Paris Beach Club designed by Hollywood socialite and style icon Paris Hilton. Two additional residential towers are slated for turnover in Azure next year.
Centuria Medical Makati, an outpatient IT-medical arts building, will be turned over at the end of this year. The 28-story project is Century Properties’ contribution to medical tourism and the improvement of outpatient care in the country. It is poised to attract residents from its local catchment area within its luxury residential buildings, the Century City Mall, and its neighboring communities as well as medical tourists who seek outpatient medical care for its convenience, value for money and modern technology.
Located in the Philippine Economic Zone Authority (PEZA)-registered IT park within Century City, Centuria will be equipped with a modern IT backbone to support its varied locator’s connectivity requirements. Centuria will also offer medical concierge services.
Also located within Century City is the Milano Residences, a 53-story luxury tower with interiors designed by Versace Home. The tower completed its structural phase of construction this month and is on track for turnover by the end of 2015.
By next year, Century Properties’ Mandaluyong project, Acqua Private Residences, will complete the Niagara and Sutherland towers, its first two towers within its 2.4-hectare tropical rainforest-themed development. The property will feature landscaped gardens with an exclusive clubhouse called The Pebble located in front of the regenerating Pasig River.
The company’s first development in Quezon City will also see the turnover of Osmeña West, the first tower at the Residences at Commonwealth. The project is the first multi-level vertical village in the area that also highlights a nurturing and holistic environment for every member of the family.
Azure Urban Resort Residences and Acqua Private Residences cater to the middle income segment while Commonwealth by Century is aligned at an affordable price point.
In 2016, Century Properties will turn over the luxury project Trump Tower at Century City, aside from its other projects in Azure, Acqua and Commonwealth. The Trump Tower is a collaboration with the Trump Organization highlights New York-inspired luxury living that is consistent in all Trump-branded property across the world.
In a previous announcement, the company said it is expected to complete 31 buildings or 1.67 million square meters spanning 2012 to 2019. Century has already completed 25 condominiums totaling 873,127 square meters with 8,777 units.
Source: The Philippine Star | August 22, 2014