By Neil Jerome C. Morales
(The Philippine Star) | Updated August 26, 2013 - 12:00am
MANILA, Philippines -
Real estate firm Century Properties Group Inc. is eyeing more land bank for new
residential and even tourism projects.
Century Properties chief
financial officer Jose Carlo Antonio said the compant’s first foray in the
province focusing on the residential segment will be launched next year.
“We’re looking mostly at
the central business district still, aside from Pampanga,” Antonio said.
Antonio said the company
is also checking “a few resort properties but nothing firm yet.”
Early this month,
Century Properties acquired close to eight hectares of property in San
Fernando, Pampanga that is expected to boost residential sales by P6 billion.
The Pampanga property
will form part of a city or town center that Century Properties envisions for
the area, preparing it to become a future central business district in the
north.
Antonio said the first
residential project in the Pampanga property would be launched next year.
Century Properties would
focus on the affordable market for the low-rise condominium project, he added.
For other new projects,
Antonio said the company is focusing on projects in Quezon City and Pampanga.
Century Properties’
regional expansion he said would be anchored on residential communities.
“Maybe 10,000-20,000
square meters (sqm.) of gross floor area of commercial space so (the community)
is self-sustaining in that regard,” Antonio said.
For the tourism venture,
Century Properties earlier announced plans to launch a hotel project in
mainland Palawan next year, banking on the country’s tourism boom.
In the first half, the
listed property firm’s earnings jumped 12 percent to P1.06 billion “led by
strong and sustained residential sales and growing earnings from property
management.”
Century Properties
expects its net income and pre-sales to reach a record P3 billion and P30
billion, respectively, by 2015 through existing inventory, unlaunched projects
and leasing portfolio.
With 27 years in the
business of real estate development, marketing and property management, Century
Properties has completed 21 condominium buildings (5,560 units) with a total
gross floor area of 669,857 sqm. and is managing 50 properties as of end-2012.
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