Century Properties Group, Inc., is confident it will continue to grow at a compounded rate of 15 percent every year to hit reservation sales of P30 billion by 2015, with the company targeting P24 billion this year, up from last year’s P21.5 billion.
Jose Marco R. Antonio, Century Properties co-chief operating officer, said the company is on track to meet its target as the company diversifies its business portfolio.
At the company’s stockholders meeting yesterday, Jose Carlo R. Antonio, Century Properties chief financial officer and a younger sibling in the Antonio family, reported that pre-sales for the second quarter of the year reached P6.3 billion, 15.9 percent higher than last year’s P5.4 billion.
This brought the first half pre-sales figure to P12.1 billion, 13.3 percent higher than last year’s P10.7 billion.
The strong pre-sales were attributed to Century projects Trump Tower at Century City in Makati, Acqua Iguazu yoo inspired by Starck in Mandaluyong City, Azure Urban Resort Residences in Parañaque City and the Residences at Commonwealth in Quezon City.
The elder Antonio said the company is focused on expanding its business with three new sites in the pipeline for development.
Antionio said they recently closed a long-term lease on a Bonifacio Global City property where the company looks to put up office spaces in the business center.
“A few months ago, we announced that we have signed a long-term lease in Fort Bonifacio on which we will be building four lease offices, totalling 30,000 sq.m. of gross floor area. We will be targeting the BPO (business process outsourcing) industry as well as corporates and this is in our continued thrust for diversifying our income streams to recurring income businesses,” he said.
Antonio also said the company is working on the expansion of leasing space to improve recurring income.
Source: Malaya | July 2, 2013