CENTURY Properties Group, Inc. (CPG) is bullish on the Year of the Pig as it expressed optimism on the country’s property sector in 2019.
“We remain to be bullish if not stronger in 2019 in terms of our desire to provide more homes and office spaces. So we think, overall as an industry, we will keep growing and we’ll grow with it. We’ll put our signature on our future projects,” said CPG co-chief operating officer and manager director Jose Marco R. Antonio in an interview on December 12 at the sidelines of the inauguration Asian Century Center, a P1.6-billion green office building at the 27th Street corner Third Avenue in Bonifacio Global City, Taguig.
“We plan to have several project launches next year,” Antonio added.
The 21-story green office building at the 27th Street corner Third Avenue in Bonifacio Global City, Taguig has been 75-percent leased. Antonio added three out of the four information-technology companies with confirmed leases are holding office in the building, which has a net leasable area of 29,628 square meter. Moreover, he said that Asian Carmakers plans to put up a showroom of Peugeot at the ground floor.
Once fully leased out, the Asian Century Center is expected to contribute approximately P500 million in annual revenues to CPG’s leasing portfolio.
For residential in-city development, Antonio said CPG will continue to be a prominent player in the affordable housing market citing the company is boosting its affordable housing portfolio under the brand PHirst Park Homes, a joint venture with Japanese conglomerate Mitsubishi Corp.
Together with CPG, Antonio said Mitsubishi is looking to build around 20,000 homes around the country in the next five years.
After launching projects in Tanza, Cavite, and Lipa City, Batangas, Antonio said PHirst Homes will launch its third project in San Pablo, Laguna, in 2019. He added PHirst Homes will launch another 11 to 12 projects in various both the north and southern part of Metro Manila.
“I was surprised to learn that 50 percent of the country’s gross domestic product is coming from Metro Manila and the Calabarzon. This means that a high concentration of people and purchasing power will also require high housing requirements in these areas. There’s much concentration of wealth in these areas,” he pointed out.
Being an accredited building by the Philippine Economic Zone Authority, the Asian Century Center is suitable for the information technology-business process management operations, as it has 100-percent power backup, provision for high-speed internet and infrastructure, and a building management system.
Moreover, the tower has been pre-certified for the core and shell rating of LEED (or the Leadership in Energy and Environmental Design), a globally recognized green building and sustainability certification system. Pre-certification is awarded to projects with achievable sustainable targets that demonstrate the project’s commitment to LEED certification. Asian Century Center is working toward a LEED Silver.
PHirst Park Homes entered the affordable housing market in 2017. Its first project PHirst Park Homes Tanza in Cavite was a success. In its first phase, PHirst Homes sold out 1,200 units valued at approximately P1.4 billion. Moreover, approximately 600 units of single attached models and town homes are scheduled for completion in 2018.
In June 2018, it launched PHirst Park Homes Lipa, a 20-hectare development in Lipa City, Batangas, with 1,867 units valued at P2.8 billion.
Earlier, Ambassador Jose E.B. Antonio, chairman and chief executive officer of CPG, said the partnership with Mitsubishi is a big milestone for the company that will enable them to be a quality housing provider for the middle market.
“We are pleased to announce this new chapter in the company’s history of serving the housing needs of our Filipino first home buyers in a much larger scale. It has always been Century’s desire to contribute to nation-building, and through PHirst Park Homes, we will provide the increasing middle-class segment with quality homes that inspire pride of ownership. Mitsubishi Corp. has been instrumental in PHirst’s initial success in Tanza, Cavite. We thank Mitsubishi for its continued trust and confidence in CPG, and we look forward to working with them on more projects in the future,” Antonio said in a press statement.