CENTURY Properties Group Inc. is expanding its footprint in the affordable housing market. In partnership with Japanese conglomerate Mitsubishi Corp., CPG recently announced that it will introduce four new projects in Laguna, Bulacan and Cavite by 2019.
“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,” Century Properties Chairman and CEO Jose E.B. Antonio said in a press statement.
Mitsubishi Corp. Senior Vice President and Division Chief Operating Officer of Real Estate Business Division Takuya Kuga expressed optimism with the CPG, stressing that PHirst Park Homes will make significant contributions in addressing the housing backlog in the Philippines.
PHirst Homes is on an expansion mode as the new projects are included in the 15 projects in the company’s pipeline for the next five years. The company will build a total of 33,000 homes valued at P57 billion.
Meanwhile, the provinces of Bulacan, Laguna and Cavite are named as growth areas for the company. By launching projects in these areas, PHirst Park Homes President Ricky M. Celis said the company is bullish in these areas because it offers a window of opportunity to address the unmet demand for housing where the purchasing power is high, and existing and planned infrastructure projects can spur future development and provide convenient linkages to other hubs.
“PHirst raised the bar in the category by offering more value at very attainable price points. As we are committed to provide complete and well-designed communities for more Filipinos we intend to develop in more locations very soon,” Celis said.
Aside from affordable housing, PHirst Homes is also planning to enter the mixed-use townships in select growth areas with sizes of at least 100 hectares. Such township communities will have retail, offices combined with housing and other modes of accommodations.
“The company is also eyeing expansion into the Visayas and Mindanao regions once it has established technical and market scale,” Celis said.
PHirst Park Homes entered the housing market in 2017 with the successful PHirst Park Homes Tanza in Cavite, which has already sold out its first phase with 1,200 units valued at approximately P1.4 billion. Around 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.
To develop a niche in the market, PHirst Park Homes brand crafted a position anchored on its 4Cs: Complete, Conceptive, Connected and Convenient. The first C means that homes are Complete with a perimeter fence and gate, finished ceiling, flooring and bathrooms, a garden or carport provision and an expandable unit layout. The second C means Conceptive amenities are available to residents with community bonding activities. To maintain linked in the digital age, the third C means Connected to life’s essentials through Wi-fi zones and easy access to modern conveniences. A simplified buying process also ensures a convenient experience for home buyers.
CPG projects include mixed-use developments such as Century City in Makati City, Azure Urban Resort Residences in Parañaque City, Acqua Private Residences in Mandaluyong City, Azure North in San Fernando, Pampanga, the Residences by Commonwealth in Quezon City, and Canyon Ranch in Carmona, Cavite.
On the other hand, Tokyo, Japan-based Mitsubishi Corp. is present in businesses across every industry, including industrial finance, energy, metals, machinery, chemicals and daily living essentials.