Phirst Park Homes Inc., the joint venture horizontal property unit of Century Properties Group Inc., on Thursday said it acquired a 30-hectare property in Batulao, Nasugbu, Batangas, from one of the listed firm’s unit.
The company said it acquired the said property from CPG’s unit, Century Limitless Corp., the brand that focuses on developing high-quality, affordable residential projects which caters to first time home buyers, start-up families and investors.
PHirst Park said it will allot some P550 million in capital expenditures for the entire Nasugbu project, which will be developed in phases.
PHirst Park president Ricky Celis said the company’s future Batangas project will have a mix of modern and rustic ambiance with tree-lined streets and wide-open spaces. The community will have a green landscape and view of Mount Batulao.
The Nasugbu project will be launched in the first quarter of 2020, but Celis said initial selling for the first 13 hectares with 1,021 units will start this month.
“Before we end the year 2019, we achieved another milestone as we acquired one of the prime properties in Nasugbu, Batangas. We are very much excited for the opportunities to develop this into a showcase community,” said Celis.
He said the master plan design will be more distinctive compared to other PHirst Park Homes brand by introducing new components in the project, such as a commercial center and new house models that are eco-friendly. It will also have wider road networks and more amenities or open spaces.
The project is located along Nasugbu Highway, a 1.5-hour drive from Manila via the Sta. Rosa-Tagaytay Road. It is also a 20-minute drive from Tagaytay City and a 42-minute drive to the beaches of Nasugbu.
It will soon have direct access to the Cavite-Tagaytay-Batangas Expressway, which connects Silang, Cavite to Nasugbu, Batangas Road.
“Future residents will get to experience a world-class development at an affordable price point. People can jog in the streets freely, kids can play in the park, or throw a party at the clubhouse—and be rest assured of utmost security and peace of mind when you are inside the PHirst Park Homes project,” said Celis.
PHirst Park is joint venture company of CPG and Japan’s Mitsubishi Corp. It has launched five projects covering a total of 91 hectares and 8,799 units valued at P14.4 billion.
The company is expected to roll out 10 more out of 15 masterplanned communities in north and south Luzon with 33,000 homes by 2023 to help address the country’s 6.6 million housing backlog.