Century Properties Group Inc. (CPG) reported a 15.18 percent increase in revenues in 2024 to P14.64 billion from P12.71 billion, fueled by a booming first-home market and continued momentum in the company’s premium residential business segment.
“This banner year reinforces CPG’s successful pivot to address the surging demand for affordable housing across the country,” the Antonio-controlled property development firm said in a statement.
Revenues from its first-home segment alone under the PHirst brand stood at P9.9 billion, up 33.78 percent from P7.4 billion the previous year.
The company said its higher-end offerings contributed P3 billion, while its leasing and property management arms added P1.31 billion and P464 million, respectively.
“We are very pleased with our 2024 performance, which reflects our commitment to operational excellence, successful project completions, and effective debt management. Our focus on delivering affordable, quality homes continues to meet the strong demand across various market segments,” said Marco Antonio, CPG president and chief executive officer.
North to south
“The year also saw CPG aggressively expanding its geographical reach with the launch of multiple projects in North and South Luzon across both the first-home and premium markets. Additionally, we ventured into the Visayas, bringing our promise of quality, affordable homes to more Filipino families,” Antonio added.
“The government’s infrastructure flagship projects—especially those boosting nationwide connectivity—will quickly drive progress and, consequently, increase the demand for quality homes across the country. We are committed to capitalizing on these emerging opportunities and fulfilling the aspirations of homeowners with our Century-branded developments,” he added.
Ponciano Carreon Jr., CPG chief financial officer, said the company closed the year with total assets of P55.9 billion, up 3 percent, while it reduced its interest-bearing debt by 16 percent.
Carreon said CPG’s 2024 results delivered a maiden double-digit return on equity for common shareholders, a critical milestone in its financial trajectory.
“The confluence of the management’s prudent balance sheet handling, operating efficiency initiatives, and sensitivity to market needs allowed Century to achieve strong financial results in 2024,” he said.
“Our healthy financial position and key indicators will enable us to continue on our planned trajectory, with more than enough cushion to navigate persistent industry headwinds and increase value for our shareholders over time,” Carreon added.
PHirst launches
Meanwhile, CPG said it is estimated to generate P2.23 billion in the 10-hectare residential village, PHirst Editions Batualo Vol. 2 West, in its 142-hectare Century PHirst Centrale Batulao in Nasugbu, Batangas.
PHirst Editions Batulao Vol. 2 follows the success of PHirst Editions Batulao Vol. 1 introduced to the market in December 2022.
The development offers 496 homes with floor areas ranging from 54 square meters (sq.m.) to 120 sq.m., with prices starting at P4.5 million.
The development was designed to accommodate a wide range of family sizes.
PHirst Editions Batulao Vol. 2 was introduced to the market simultaneous with the official launch of CPG’s second township project, Century PHirst Centrale Batulao, in Nasugbu, Batangas, on February 15, where the residential project will be located.
“This marks a significant milestone for the company following the success of PHirst Centrale Hermosa in Bataan, which was launched in March 2022,” CPG said.
The two township projects are launched as part of the company’s home brand — PHirst.
Antonio, PHirst vice chairman, said the launch of Century PHirst Centrale Batulao represents the company’s commitment to developing integrated, well-planned communities.
“We are not just building homes, we are shaping dynamic environments where families and businesses can grow together,” he said.
Ricky Celis, PHirst president, meanwhile said that with the launch of Century PHirst Centrale Batulao, the project “will create more jobs, support the local economy, and offer affordable and mid-tier housing options, helping alleviate the country’s housing backlog.”
Century PHirst Centrale Batulao is designed to integrate residential, commercial, institutional, and retail establishments, structured around three key pillars — Dwell, Create, and Thrive.
The 13.6-hectare Create zone will feature commercial, and retail spaces. It is focused on business and industry to create a hub for professionals and entrepreneurs, “offering a range of opportunities for individuals seeking a thriving career and business venture,” Century Properties said.
Celis said with the launch of Century PHirst Centrale Batulao, the company is not only addressing the housing needs of Filipino families but is also contributing to the growth of Batangas and the Southern Luzon region.
