CPG ends 2019 with completion of 2,853 condominium units

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    Century Properties Group Inc., said it expects to close the year with 2,853 condominium units completed.

    Under its in-city vertical developments, Century Properties has fully completed the 9-tower, six-hectare Azure Urban Resort Residences in Parañaque City this November with the turnover of 846 units at its final tower, the Bahamas.

    “Collectively, all nine Azure towers comprise 5,350 units with a total sales value of P26.2 billion, and with 98 percent of the inventory already sold out,” the company said.

    The company also completed this year the Roxas West tower (500 units) at the 4.4-hectare The Residences at Commonwealth in Quezon City – with an additional 1,015 units expected for completion by the end of the year at the Quirino West and East towers – as well as Acqua Iguazu YOO inspired by Starck tower (492 units) and by next year, the upcoming opening of Novotel Suites Manila.

    “The turnover of Iguazu this year and the forthcoming opening of Novotel will mark the full delivery of the six-tower Acqua Private Residences masterplan in Mandaluyong City with a total of 3,168 residential units and a sales value of P 18.4 billion, with 98.6 percent of the units sold out,” the company said.

    Century Properties also completed an additional 821 house and lot units as of November 2019 through its affordable housing brand PHirst Park Homes, a joint venture with Mitsubishi Corp.

    “Two years since its launch, PHirst Park Homes has already rolled out 5 of the 15 masterplanned communities in its pipeline in Tanza, Cavite; Lipa, Batangas; and this year, in San Pablo and Calamba, Laguna; and Pandi, Bulacan. Collectively, this is 84.2 hectares and 8,799 units valued at P14.8 billion, with P7.7 billion sold out as of October 2019.  A total of 33,000 units will be launched by PHirst until 2023,” it added.

    Under its commercial leasing business, Century Properties has completed and fully leased out the Asian Century Center in Bonifacio Global City with 56,284 square meters of gross floor area and is soon adding to its portfolio the 41-storey Philippine Economic Zone Authority-accredited Century Diamond Tower office building at Century City Makati with 63,110 square meters of gross floor area once fully completed. These properties will significantly contribute to Century Properties’ recurring income portfolio which the company targets to increase to 300,000 square meters of GFA with revenues of P2 billion by 2020.