Century Properties eyes launch of 2 projects

CENTURY Properties Group Inc. (CPG) said Monday it targets to commence two residential developments — one in Metro Manila and another in Pampanga — by the first half of this year.

“Century Properties continues to deliver more than just homes to Filipinos. We take to heart their dreams and deliver amenities to match their aspired lifestyle,” CPG Managing Director Carlo Antonio said in a statement.

The real estate firm said it was planning to open The Hotel Residences at Acqua in Mandaluyong City before March 2024 ends, adding that the project offers “move-in-ready, hotel-fitted, and fully furnished suites.”

Another development is a mid-rise 12-story residential building at Azure North in San Fernando, Pampanga, the company said, noting that the first tower would comprise about 375 units.

“With these upcoming projects, Century Properties Group is poised to further redefine and elevate the real estate landscape in the Philippines,” CPG told the stock exchange.

CPG President and Chief Executive Officer Marco Antonio earlier said they were expecting 2024 to be a “banner year” for the company as the housing business was continuing to “grow rapidly.”

Developing new office spaces in the near term is not a priority, he added, as CPG’s business strategy is focused on ramping up efforts to fill all existing office and retail spaces.

“With that said, I think our properties are performing above market in terms of both occupancies,” the CPG chief said, emphasizing that the company was also planning to drive up mall occupancy this year.

CPG shares were down by 5 centavos to close at P0.275 each on Monday.