By Neil Jerome C. Morales (The
Philippine Star) | Updated January 29, 2014 - 12:00am
MANILA, Philippines - Century
Properties Group Inc. has breached its target of hitting P23 billion in
reservation sales for 2013 due to strong take-up from its multi-tower developments.
The property firm controlled by the
Antonio family will launch at least P17 billion worth of new projects this year
as it completes existing developments, the company said.
In a regulatory filing, the firm said
its reservation sales reached a record of P24.6 billion last year, up 15
percent from P21.4 billion in 2012.
“Reservation sales came from its
Century City, Azure Urban Resort Residences, Acqua Private Residences, and
Commonwealth by Century locations,” Century Properties said.
So far, Century Properties has almost
30 buildings in different stages of development, catering to the luxury, middle
income, and affordable market segments, almost 90 percent of which are already
sold.
The continuing expansion of the real
estate industry and the influx of overseas Filipino workers (OFW) remittances
delivered the growth for the company, said Century Properties chairman and CEO
Jose E.B. Antonio.
“Given the strength of OFW
remittances, even during the global financial crisis, we purposely
differentiated our marketing strategy to cater to the needs OFWs and
foreigners,” he said.
Specifically, the company created an
international sales and marketing team, increasing access to the underserved
overseas market.
Century Properties now has more than
60 international sales offices and affiliates in four continents.
“The company is looking to launch at
least P17 billion worth of new projects, inclusive of the recently launched
Century Spire interior designed by Armani Casa, for this year in its in-city
locations,” the firm said.
In the coming months, Century
Properties will complete two buildings equivalent to over 1,000 units, plus the
Century City Mall in Kalayaan Avenue and an urban beach club designed by
Hollywood socialite Paris Hilton at the Azure Urban Resort Residences in
Parañaque City.
In January to September last year, the
company’s net income grew 12 percent to P1.6 billion while consolidated revenues
rose 12 percent to P8.1 billion.
With 27 years in the business of real
estate development, marketing and property management, Century Properties has
completed more than 20 condominium buildings, transforming 744,576 square
meters of space into premier residential and office developments in and outside
Metro Manila.
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