Century Properties sets P6-B capex this yr

LISTED property developer Century Properties Inc. (CPGI) said on Monday it is programming capital expenditure of P6 billion for this year to expand its condominium projects and leasing assets even as its profit dropped last year because of fewer projects launched.

In a disclosure to the Philippine Stock Exchange (PSE), CPGI said its total revenues dropped to P7.38 billion last year from P10.38 billion recorded in 2015 while real estate sales amounted to P4.97 billion from P7.75 billion in the previous year.