Real-estate firm Century Properties Group Inc. (CPG) on Monday said it is expanding its horizontal footprint in the country as it is upbeat about the prospects for its affordable housing segment business this year.
CPG President and CEO Jose Marco R. Antonio also said during the company’s annual stockholders’ meeting that the company will focus on its resilient businesses while it prepares the organization for a post-pandemic economic recovery.
“We remain very optimistic with the affordable segment business of CPG under Phirst Park Homes, in partnership with Mitsubishi Corp. Strong sales in our affordable housing business reaffirmed the real demand coming from local end-users and overseas Filipino workers, who are looking for good quality homes in safe communities that are located in key growth centers,” Antonio said.
The company has focused on its horizontal housing business as it is rapidly running out of units in high-rise developments to sell.
Phirst Park’s reservation sales for the first half amounted to P4.4 billion, 38 percent higher than the P3.2 billion posted in the same period last year.
In terms of units, reservation sales reached 2,327 or 28 percent more than 1,819 units last year. Total collections for the first half hit P2.03 billion, more than double from over P744 million a year ago.
Phirst Park Homes has launched its General Trias, Cavite project this month, its eighth community, and this will be followed by two more project launches in south Luzon, and one project in north Luzon for the rest of the year. Although strict quarantines imposed in the initial stages of the pandemic in 2020 hampered construction activities, CPG managed to complete two residential buildings with 1,015 condominium units in its Commonwealth, Quezon City project.
Phirst Park Homes, meanwhile, completed 659 house and lot units, bringing its total completions to 1,536 units.
This quarter, CPG managing director Jose Carlo R. Antonio said the company is turning over two buildings at the Residences at Azure North in San Fernando, Pampanga and in December, the Century Spire building at Century City in Makati.
With quarantine measures also disrupting sales and collection activities, the company kept its lines open by improving its digital platforms to communicate with clients. Through online channels, the company was able to transact and deliver services.
CPG’s commercial properties Centuria Medical Makati and Century City Mall remained open to provide healthcare services and essential supplies through the quarantine periods.
Centuria Medical, which houses a 24/7 Urgent Care Clinic and more than 300 outpatient medical and healthcare locators, is now also a vaccination facility accredited by the Department of Health and the City Government of Makati.
This will be the vaccination site for 5,000 CPG company employees, inorganic employees, accredited sales agents, construction laborers, and accredited third-party service personnel this month as the company begins the rollout of its vaccination program.