MANILA, Philippines – After Versace, Donald Trump and Paris Hilton, Century Properties Group Inc. now is tapping Italy’s Missoni Home to design the P1.5 billion fourth tower of its Acqua Private Residences in Mandaluyong City.
Marco Antonio, managing director of Century Properties and project head, said the company has contracted Missoni Home to design the 52-storey Acqua Livingstone, the fourth of the six-tower Acqua project.
“At the end of the day, real еstatе is aspirational buying and people want to buy something that is unique. By virtue of Acqua Livingstone, we’ll actually be providing really collectible real еstatе,” said Antonio.
Scheduled for completion in four to five years, Acqua Livingstone offers 645 units with one- to three-bedroom configurations at 27 to 140 square meters, respectively. The building’s sky deck features a multi-level amenity area called The Canopy.
The fourth tower is expected to generate P3.5 billion in sales, raising the
sales value of the Acqua project from the earlier estimate of P13.5 billion to new forecast of P15 billion.
Century Properties said it already sold 96 percent of the first three towers, which have a combined 1,800 units and has generated P7 billion in sales since last year’s launch.
Earlier, the company tapped Versace to design The Milano Residences. This was followed by Donald Trump with The Trump Tower Manila, and Paris Hilton, who designed the beach club of Azure Urban Residences.
Century Properties said it has sold 80 percent of Milano and 55 percent of The Trump Tower. The company also announced a 40 percent jump in sales for Azure since announcing the Hilton-inspired design.
“Behind the brand is a quality that people are familiar with. It’s not just an endorsement that we’re actually after, we’re actually after a value-add collaboration that will [go down as] a consumer benefit,” said Antonio.
Century Properties sells a third of its branded projects to foreigners, but offers the same to overseas Filipinos and the country’s high-end set.
The company said it cornered 35 percent of the real еstatе industry’s international sales in the past five years, and is ranked second to Vista Land and Lifescapes Inc.
Century Properties has fielded 3,000 sales agents in 50 countries.
The company is aiming to generate P20 billion in pre-sales this year, or 10 percent more than the P18.4 billion last year, Antonio said.
Besides sales, the company plans to expand its leasing business, with the upcoming lifestyle center in its integrated community called Century City in Makati City generating at least five percent in recurring income.
“We hope to grow recurring income base to more than 10 percent of the portfolio. With opportunities in the pending real еstatе investment trust law, it may serve as an impetus for us to create a recurring income stream,” said Antonio.
Source: Interaksyon | Feb 27, 2012