Century Properties Group Inc. is eyeing to expand its affordable housing to the Visayas by next year.
Marco Antonio, Century Properties chief executive officer, said 2023 is proving to be “a very strong year for the company” as the first nine months posted profit of P1.3 billion over revenues of P10 billion.
“We’re reaching our pre-pandemic levels,” Antonio said, adding outlook is . cautiously optimistic.
“There are many reasons why we believe it’s going to be a good year. Our affordable housing business is growing very rapidly…we’ve launched many projects,” Antonio said.
Antonio said the company has been aggressive in rolling out its affordable housing business under Phirst-Homes residential brand, mostly in Calabarzon.
“By the first quarter next year, we hope to launch our first project in the Visayas. We’re going to expand our geographic footprint,” he said.
Antonio said the company’s commercial leasing business is “performing above market in terms of occupancy.”
“We don’t plan any new speculative office developments in the near future. We’re focusing our efforts into filling up all of our current office and retail spaces,” he said.
“There’s a lot to be excited about the retail market.Initially it was revenge spending, which you could also all see across the board, but specifically for us in Century City Mall, (after) the difficult period of COVID… we’ve seen the positive inflection point where we’ve been able to drive up the occupancy for the mall significantly this year, which we plan to continue in next year,” he said. – Ruelle Castro
