Century Properties launches sale of 2.5-B worth office spaces

High-rise developer Century Properties Group has launched 2.5 billion worth of Grade A office spaces at the Century Spire tower in Century City to further expand its commercial property portfolio.

In a disclosure to the Philippine Stock Exchange, CPG said they are adding a minimum of 23,000 square meters of office space for sale in the market with launch of Century Spire.

“We are aggressively pursuing our business expansion plans this year, which includes strengthening our commercial portfolio on top of our current concept residential projects,” said Century Properties chief operating officer Marco Antonio.

He explained that, “diversifying to other product offerings, such as for sale strata office space, is instrumental in sustaining the growth for the company.”

Century Spire’s single unit office spaces range from 50 to 90 square meters, with a price range of 185,000 to

205,000 per square meter. Units may be combined to form up to an entire floor of office space.

CPG said that the units will be sold to end users seeking a prime location for their business, as well as to those seeking to lease out their purchased units upon completion.

“Current Makati rental rates for prime office is approximately 900 to

1,300 per month” refers to rates per square meter per month.

The firm said it is expanding its commercial assets on the back of a strong economy that fuels the demand for office space, especially for the sectors of business process outsourcing (BPO) and IT.

Century Spire is designed by the renowned New York Ground Zero masterplan architect Daniel Libeskind. A LEED green building certification (or the Leadership in Energy and Environmental Design) has also been applied for the building.

Two of the tower’s floors will be dedicated to retail space for select locators. It will also have an auditorium, concept food hall, and fine dining restaurants.

The building will also have separate entrance driveways and lobbies for office tenants and residents, for their convenience and privacy.