Century Properties, Mitsubishi Corp to roll out 33,000 homes worth P57 billion

MANILA - Century Properties Group and Mitsubishi Corp on Thursday announced plans to roll out 33,000 home units through its newly-formed joint venture PHirst Park Homes. 

The units worth P57 billion it total will be rolled out in key locations outside Metro Manila, Century Properties told the stock exchange. 

PHirst Park Homes will launch 15 communities in Calabarzon and in Central Luzon within the next 5 years, its president and CEO Ricky Celis said.

“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," Celis said. 

Mitsubishi Corp senior vice president and Real Estate Business Division COO Takuya Kuga said PHirst Park Homes could help address the housing backlog in the Philippines. 

Century Properties said it owns 60 percent of the joint venture while Mitsubishi owns 40 percent.

source: news.abs-cbn.com

Donald Trump happy with strong sales of Trump Tower in Makati

MANILA, Philippines - Century Properties Group said sales of residential units at Trump Tower at Century City in Makati have been brisk.

In a statement, CPG said it has pre-sold 94 percent of Trump Tower's units two years ahead of its completion. Trump Tower has over 250 units with a total sales value of P6.13-billion.

"We would like to congratulate our great partners, Century Properties Group, on this very exciting accomplishment. Together, we have done something very special and this fantastic property will set the standard of luxury and quality in the Philippines and beyond," said Donald J. Trump, Chairman & President of the Trump Organization.

Century Properties Chairman and CEO Jose E.B. Antonio thanked Trump for his confidence in the company.

"Putting a Trump Tower in the Philippines is Century's contribution to making Metro Manila an international destination. We are overwhelmed by the response from the market to the Trump Brand and are grateful, as this now affords the city one of the most luxurious buildings in the world, comparable to the city centers of New York, Hong Kong and Singapore," Antonio said.

Most of the buyers of units at Trump Tower are high-net-worth Filipinos and foreign nations, according to CPG Director for Investor Relations Kristina Garcia.

"The successful sales of Trump Tower is a strong indicator of the power of Trump and how Century Properties has maintained its solid position as a key developer of first-class residential developments within the central business districts of Metro Manila, while it continues to diversify into other market segments," Garcia said.

Trump Tower's construction has reached the 27th floor as of early January 2015.

source: www.abs-cbnnews.com

Century Properties eyes completion of 31 buildings by 2019

MANILA, Philippines - Century Properties Group said it is expected to complete 31 buildings in the next six years.

In a statement, Century Properties said the 31 buildings, which have around 1.67 million square meters, will be located in master-planned developments in Century City Makati, Acqua Private Residences in Mandaluyong, Azure Urban Resort Residences in Paranaque, the Residences at Commonwealth in Quezon City and Canyon Ranch in Cavite.

The buildings include residential projects for luxury, middle-income and affordable markets, and retail, office and medical office developments.

Century is also developing an office building in Fort Bonifacio.

The property developer's land bank also includes properties in Pampanga, Quezon City and Batangas.

Earlier, Century said it is expected to complete six commercial buildings totaling roughly 160,000 square meters by 2019.

"Century is now evolving from being a top residential developer in Metro Manila to a well-diversified real estate developer with recurring revenue streams," said Century Properties Chief Operating Officer Jose Marco R. Antonio.

source: www.abs-cbnnews.com