By Zinnia B. Dela Peña (The Philippine Star) Updated February 12, 2010 12:00 AM
MANILA, Philippines - Century Properties Inc. is gearing up for the launch of a new brand catering to the middle-income sector and the construction of one of the company’s biggest residential projects.
John Victor Antonio, chief operating officer of Century Properties, said the company remains confident about the prospects of the real estate market in spite of lingeringuncertainties on the local and international fronts.
“We remain optimistic especially in these times when the market is showing signs of appreciation for real estate as a good asset to have. In addition, purchasing homes has never been more convenient for buyers with all types of home financing available,” he said.
Century Properties ended 2009 with a successful overseas campaign and on-schedule project constructions.
In December 2009, the company unveiled plans to develop a P6-billion urban residential enclave in Paranaque City in partnership with Columbian Motors owner Jose Alvarez.
The nine-building residential project called Azure Urban Resort Residences will be Century Properties’ first venture into the local middle income property market to rise on a six-hectare lot in the booming South Luzon Expressway corridor.
Azure Urban will be launched under Century Limitless, a new brand category that will develop affordable yet high-value residential projects. The first building, Rio, will make available a total of 756 units to be sold at an average price of P1.9 million for a 26-sqm unit with a balcony area, or for as low as P17,000 a month. Antonio said the construction of the firm’s two residential buildings at Century City in Kalayaan Avenue, Makati is still progressing. The first tower, Gramercy Residences, is already on the 23rd floor of construction.
Antonio said Grand Soho Makati, a joint venture with the United Coconut Planters Bank in Salcedo Village, Makati, is also on track for its June 2010 turnover. In San Lazaro Leisure Park, Carmona, where Century’s first horizontal community called Canyon anch is located, a chapel and clubhouse are expected for completion this summer following the completion of more than 500 homes.
Land development for the third phase of Canyon Ranch, called The Moderno, is also ongoing.
Antonio said roadshows overseas also contributed to the firm’s high reservation sales that allowed it to sustain its sales growth despite the global financial crunch.
Century has an established market presence in five key regions overseas. It is the developer of the upscale Essensa East Forbes in Bonifacio GlobalCity and Canyon Ranch, the country’s first Wi-Fi integrated community in Carmona, Cavite.