CENTURY Properties Group, Inc. (CPG) plans to sustain its expansion efforts and introduce new projects in urban areas this year as part of its growth strategy.
During the company’s annual stockholders meeting on Monday, CPG President and Chief Executive Officer Jose Marco R. Antonio said that there is interest in house-and-lot offerings and vertical communities across business and growth areas across the Philippines.
“As industry watchers, we have reported shifts in the property preferences of the market post-pandemic, one finding is that we have seen a sustained interest in house and lot options and thoughtfully planned vertical communities in key business and growth areas around the country. New standards in living and lifestyle inclinations have developed that we wish to serve via resuming launches of our in-city products,” Mr. Antonio said.
Monica L. Trajano, CPG’s in-city product line lead, said that the company seeks to tap into new markets which have sprung up in recent years.
CPG’s in-city product line aims to deliver unique products such as the integration of mid- to high-end horizontal and vertical homes, commercial spaces, and curated amenities.
“Our goal is to become the market-maker in key growth areas, but we will veer away from cookie-cutter development. We are not just filling the gap but enhancing the communities where we go into,” Ms. Trajano said.
Further, CPG said its affordable housing unit and joint venture with Mitsubishi Corp., PHirst Park Homes, Inc. (PPHI), aims to launch four new developments this 2022. By end-2021, it completed 3,500 housing units and turned over more than 2,400 units.
It said the four new developments will have projected combined revenue of P13.2 billion and a total of close to 7,100 units. Before these, PPHI opened 10 master-planned communities, covering seven provinces across Central Luzon and Calabarzon, with over 18,000 housing units and a P33.3 billion sales value, it added.
CPG said PPHI is one of the chief beneficiaries of the proceeds of its five-year, P3-billion bond offering earlier this year. Up to P1 billion has been earmarked for the company’s expansion, it added.
“The company recently launched its 11th and 12th sites in Naic, Cavite, and Balanga City, Bataan, respectively. The two other projects, both in Central Luzon will be announced soon,” it said.
Meanwhile, CPG said that PPHI’s revenue contribution amounted to P3.90 billion in 2021, up 73% from the P2.26 billion logged in 2020. This brought CPG’s consolidated revenues to P9.4 billion in 2021, while its net income increased 10% to P1.27 billion.
CPG Executive Chairman Jose E.B. Antonio said that with rising interest rates, inflation, and the peso’s depreciation against the dollar, “real estate has historically proven to be [the] best hedge against inflation.”
He said the company “is poised to take advantage of this by delivering great products in great locations.” He added that it has no dollar-denominated debt, thus not exposed to risks associated with the peso’s depreciation.
On Monday, CPG shares at the local bourse rose 1.32% or P0.005 to close at P0.385 apiece. — Revin Mikhael D. Ochave
