Century Properties Group Inc. is looking at launching its first Mindanao project under its “PHirst” brand, its president Jose Marco Antonio said.
At the company’s stockholders meeting on June 27, Antonio announced the inaugural PHirst development in Mindanao will be launched in the third quarter of this year.
Antonio did no disclose the name or location of the project but said CPG through PHirst continues to focuson “growth centers and emerging economic hubs, where demand, size, market, affordability, and infrastructure development are the main features.”
Over a 10-year period, PHirst will launch 10 projects in Mindanao, Antonio said.
About six to eight of these are slated for launch this year, with a sales value of P25 billion.
“The next five years will see continued growth and sustained launches from PHirst highlighting our vision of becoming a leading enabler of first-time home buyers in the country,” Antonio said.
“As we look toward the future, we are energized by the strong growth prospects in the Philippine real estate sector with favorable macroeconomic indicators, continuous government investment in infrastructure, and sustained consumer demand. CPG is well positioned to accelerate its expansion across the country,” Antonio added.
Ricky Celis, PHirst Park chief executive officer and president, said the company is particularly focused on “seven of the 17 administrative regions” in the country for the brand’s socialized, economic, affordable, and mid-income residential housing developments.
“While most of these are independent gated communities, PHirst will also pursue more township projects after its successful rollout of PHirst Centrale Batulao and PHirst Centrale Hermosa in Bataan,” Celis said.
Celis said the six to eight projects calendared for launch this year will be under brands like PHirst Sights, PHirst Park Homes, PHirst Centrale, PHirst Impressions, and PHirst Editions, and will cover about 100 hectares, offering more than 10,000 units, with approximately P25 billion in sales value.
“This will include the company’s maiden entry into Mindanao, which is another concrete step towards its envisioned nationwide presence,” he said.
Antonio said CPG is looking at a capital expenditure of P12 billion this year.
Last year, the company spent P4.53 billion, company filings showed, a 165 percent increase.
Antonio said P10 billion of the amount will be allocated to PHirst Park Homes projects and the rest will go to the company’s premium line.
