By Jenniffer B. Austria | Posted on
Nov. 22, 2012 at 12:01am |
[ manilastandardtoday.com ]
Property firm Century Properties Group
Inc. said it will launch new projects aimed at the affordable market and
venture into retail development to boost leasing income.
Century Properties co-chief operating
officer and managing director Marco Antonio said in an interview 50 percent of
the projects to be launched next year would cater to the affordable segment.
The company said the projects include
additional phases to existing development at Azure Residences in Parañaque and
the Residences at Commonwealth. The company also plans a new development in a
50-hectare site in Novaliches, Quezon City.
Meanwhile, the company said about 30
percent of project launching in 2013 would be for the middle-income market and
the remaining 20 percent for the high-end market.
Antonio said sales continued to be
robust as the company attracted Filipinos overseas and foreigners for its
developments.
Antonio said on the retail front,
future projects would be mixed-use developments including commercial and office
developments that were expected to boost recurring income.
He said Century Properties, known for
high-end projects, was on the lookout for properties that could be transformed
into a mixed-use development.
Antonio also reported that the company
sold 10 percent of its newly launched branded residential tower in Acqua
Private Residences, which is a 2.4-hectare development in Mandaluyong City.
The 50-story tower called Acqua Iguaza
is a collaboration between Century Properties and internationally-acclaimed
interior design brand yoo inspired by Starck, which was founded by
world-renowned French designer Philippe Starck and the British real estate
entrepreneur John Hitchcox.
Antonio said he expected sales of 400
units in the project over the next five months.
The project is scheduled for completion by the last quarter of 2018.
“We continue to establish
international collaborations because the local market has shown its readiness
for branded real estate,” Antonio said.
Acqua Iguaza is the fifth condominium tower in Acqua Residences.
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