Publicly-listed Century Properties Group, Inc. (CPGI), together with Asian Carmakers Corporation (ACC) owned by Jose Ch. Alvarez, will launch a P1 billion two-tower development in Bonifacio Global City this year.
In a statement, Century said ACC is the lessee of the property bounded by 3rd and 4th Avenues and 27th streets in Fort Bonifacio Global City, Taguig. The lot is owned by the Armed Forces and Police Mutual Benefit Association Inc.
“ACC shall form a new corporation with CPGI to construct two towers, one for commercial offices and the other for a hotel, with an expected gross floor area of 30,000 sqm.,” said Century chairman Jose E.B. Antonio.
Antonio said this project is part of the company’s medium term plan to expand its portfolio to include commercial and tourism development.
He added that, as Century is expecting to complete over 4,000 units with 200,000 net saleable sqm. of residential condominium units by December 2013, they are seeking to re-invest earnings into recurring income assets.
“We also expect the completion of our lifestyle mall called Century City Mall by the fourth quarter of this year,” Antonio said.
Century Properties Group was the first builder to finish and turn over a building in Bonifacio global City with its award winning residential condominium called Essensa East Forbes.
With 26 years in the business of real еstatе development, marketing and property management, Century Properties is the developer behind such prestigious projects as the Azure Urban Resort Residences in Paranaque City, with a beach club designed by Ms. Paris Hilton.
It is also developing the Knightsbridge Residences at Century City, Trump Tower at Century City, the Milano Residences interior design by Versace Home, Acqua Livingstone interior design by MissoniHome; Acqua Iguazu yoo inspired by Starck; and Centuria Medical Makati in partnership with GE Healthcare.
Source: Manila Bulletin | February 18, 2013