Century Properties sees P10-B revenues from projects to belaunched this year


AFTER the recent launch of its eighth mixed-use tower in Makati, listed developer Century Properties Group Inc. is gearing up for the launch of more projects this year that are expected generate revenues of nearly P10 billion.

Century Properties director for investor relations Christina Garcia said the real estate firm, which continues to cater to the high-end market, still has a number of product launches this year.

The projects for launch include a 30,000-square meter condotel in the firm’s Mandaluyong residential complex, Forbes Media Tower in Makati, and the first tower in Azure North, the company’s mixed-use development in Pampanga.

Garcia said that Acqua Six, the sixth tower to rise in Century Properties’ Acqua Private Residences in Mandaluyong, would book P2.2 billion worth of revenues to the company once finished. The project is scheduled for launch later this year.

Forbes Media Tower, on the other hand, is set as a commercial office building that will be considered as the first of many Forbes Media Towers (R) to be built around the world.

The combined rental space for Forbes Media Tower, according to Garcia, is expected to contribute revenue of P5.5 billion to the company, while the first tower in Azure North, also set for launch this year, is projected to draw revenue worth P1.8 billion to the entire Century Properties group in the future.

In total, revenues expected from all the projects set for launch this year are pegged at P9.5 billion.

Last week, Century Properties launched “Century Spire,” the eighth tower and last residential project to be developed in the firm’s 3.4-hectare mixed-use development in Makati.

Garcia said that Century Properties is expecting total sales of nearly P9 billion from the project.

Set for completion by the end of 2018, Century Spire is a 60-story high-rise tower that will be a combination of office and residential units.


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