By Jenniffer B. Austria | Mar. 10,
2014 at 12:01am [ manilastandardtoday.com ]
Century Properties Group Inc. is
spending P8 billion this year, primarily to expand its real estate projects.
Century Properties co-chief operating
officer Marco Antonio said in an interview the company was currently
master-planning several huge properties in San Fernando, Pampanga and
Novaliches, Quezon City.
Antonio said the company would also
venture into tourism-related businesses, with a plan to put up a hotel in
Palawan and a service apartment in one of its properties.
The company is also expected to
announce within the year the residential development within the 44-hectare casino
and resort project of Japanese billionaire Kazuo Okada in Pagcor Entertainment
City in Parañaque.
Century Properties signed an agreement
with Okada-led Eagle I Landholdings Inc. last year to develop five hectares of
the 44-hectare Manila Bay Resorts in Pagcor Entertainment City.
Under the plan, Century Properties
will put up luxury residential and retail properties within the five-hectare
lot. It will contain over 300,000 square meters of gross floor area upon
completion.
Antonio said Century Properties will
be the only residential developer that will build residential projects in
Manila Bay Resorts.
The company, however, will not be
involved in any aspect of the gaming and casino operations.
Antonio said he remained positive
about the company’s performance this year, after posting a record P26.5 billion
in reservation sales in 2013, which was up 15 percent from 2012.
Century Properties plans to launch P17
billion worth of residential projects this year, aimed at overseas Filipino
workers and foreign investors.
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