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Century Properties reports growth

Posted on December 25, 2011 09:38:31 PM [ BusinessWorld Online ]

CENTURY PROPERTIES Group, Inc. was deemed the country’s fastest-growing developer so far for 2011, with its market share rising in a year marked with endorsements from heiress Paris Hilton and other celebrities.

The developer, which moved towards a backdoor listing on the local bourse back in June, hiked its market share to 10% for January to September, up from the 6% share recorded in the same period last year, Century Properties said, citing a study by Colliers International.

As of end-September, the real estate firm now ranks third in Metro Manila condominium pre-sales, Century Properties noted.

The figure was reportedly based on reservation sales value computed using average contract prices of residential condominium projects.

“In 2011, Century has executed its business plan of differentiating its products and selling to local residents and to the global Filipinos,” said Century Properties Chief Financial Officer Jose Carlo R. Antonio in the statement.

Century Properties had previously inked collaborations with Versace Home, GE Healthcare, as well the Trump Organization for its developments.

“We owe our success in 2011 to the market’s acceptance of Azure Urban Residences in Parañaque, Acqua Residences in Mandaluyong, and three towers in Century City, including Centuria Medical Makati, Milano Residences and Trump Tower Manila,” Mr. Antonio said.

The company has built over 22 buildings and 720 homes.

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