Century Properties bullish on Batulao Artscapes project
CENTURY PROPERTIES Group, Inc. (CPG) is bullish on its newly launched Batulao Artscapes project in Nasugbu, Batangas, after selling out the first phase even before its public launch.
“We’ve sold out the first phase, so we exceeded in terms of expectations our sales velocity. We’ve very happy. This is our first public launch, and we’ve done that (the first sales) through teasers,” CPG Managing Director Jose Roberto R. Antonio said at the sidelines of the official launch of Batulao Artscapes in Bonifacio Global City on Saturday.
Batulao Artscapes is CPG’s newest project that will feature houses designed by local and international architects and built by Revolution Precrafted. It is part of the company’s 142-hectare property in Nasugbu.
CPG earlier said it expects to generate P19 billion in sales from Batulao Artscapes, a 54-hectare development described as the “world’s first liveable art park.”
Mr. Antonio, who is also the chief executive officer and founder of Revolution Precrafted, said each house will take up to three months to be built.
“The price point is about P3.6 million [for the units under the area] called Clusters. We have this area called Curated where we sell one-of-a-kind designer homes by international architects,” Mr. Antonio said.
Batulao Artscapes’ first three villages are designed by Filipino architects and designers — architect Eduardo Calma’s Polygonal Successions for Cluster Village; Budji Layug and Royal Pineda’s Tranche and Facet Homes for Collection Village; and designer Kenneth Cobonpue’s Hedera Homes for Commune Village.
For the fourth section Curated Village 1, CPG is offering 12 one-of-a-kind homes by international designers and architects such as David Salle + AA Studio for the “Billboard Home,” Marcel Wanders for “Eden,” Studio Libeskind Design for “Adaptation II,” and Daphne Guinness for the “Daphne Skin Home.”
Units at Curated Village, which have their own private pool and guest home, start at P17.4 million.
CPG Chairman Jose E.B. Antonio said the company expects Batulao Artscapes to contribute significantly to its sales in the next few years.
“I think in four years’ time, we expect to earn much more than we’re earning now but a quarter to a third will be contributed by this platform Batulao Artscapes,” he said.
Batulao Artscapes represents CPG’s foray into leisure and tourism estate development. With the project, the company is targeting mainly foreign retirees and people looking for a second home which can serve as a weekend getaway.
“We really believe in the future of tourism and hospitality because this is still, what I believe, is one of the sunrise industries in the country considering that our tourism count is very low compared to our neighbors in the [Southeast] Asia. So that is an untapped potential that our company Century together now with Revolution Precrafted will be able to supply not only Filipinos but foreigners,” the CPG chairman said.
CPG has been diversifying its product mix by venturing into retail, office, and leisure development, from previously focusing on highend condominium projects with international brand partners. This strategy is expected to transform the company into a multi-platform real estate firm by 2020.
The company’s attributable profit declined by 17% in the first nine months of 2017 to P538 million, following a 15% slump in revenues to P3.92 billion.
Shares in CPG closed 1.06% higher at P0.475 each on Friday.