CENTURY Properties Group Inc., the upscale property firm of former Ambassador Jose EB Antonio, is expecting to close 2015 as a “banner year, saying the company is on track to achieve its targets.
In a statement, the company said it is launching this year “the most number of buildings in a single year since it began in 1986.”
From the six buildings the developer intends to complete this year, Century Properties expects to generate more than P15 billion in revenues. Equivalent to about 3,000 unit s, these developments are already 97 percent sold.
Moving forward, Century Properties said that by 2019 it expects to have added 16 vertical developments that will yield a portfolio of 7,000 units.
“This last year was a period of consolidation and planning for the future, with the end in view of making Century Properties a more resilient and diversified company with the ability to maximize shareholder value,” Kristina Garcia, CPG director for Investor Relations, said in a statement.
All of the company’s developments in the run up to 2019 are part of the plan to grow and diversify into allied real estate businesses, specifically in horizontal housing for first time home buyers and leisure and tourism development estates.
The company has programmed a P60billion capital expenditure in the five years to 2020, of which P27 billion would be allotted to its diversification plan.