CPG to launch P17-B new projects

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Listed real estate company Century Properties Group (CPG) plans to launch P17-billion worth of new developments within this year amid the unprecedented reservation sales it had in 2013.

In a disclosure to the Philippine Stock Exchange on Tuesday, it was mentioned that CPG has targeted to launch at least P17 billion worth of new projects, inclusive of the recently launched Century Spire interior designed by Armani Casa, for this year in its in-city locations.

The company also expects to complete two buildings in the next few months equivalent to over 1,000 units.

The projects of CPG that will soon be completed are its first shopping mall development, Century City Mall, in Kalayaan Avenue as well as its residential development project in Parañaque City.


Meanwhile, CPG also announced also on Tuesday that it had reservation sales of P24.6 billion in 2013, representing a 15-percent growth from 2012.

This, according to the listed firm, is the highest level of reservation sales that it achieved in a single year, since it became public in 2012 and its 27-year history. Reservation sales came from its four premier projects.

To date, CPG has almost 30 buildings in different stages of development, which cater to the luxury, middle income, and affordable market segments.

“Over the years, we have created a strong international sales and marketing team, which have enabled us to access the underserved overseas market. Today, Century has over 60 international sales offices and affiliates in four continents,” CPG Chairman and Chief Executive Officer Jose E.B. Antonio said.

For the first nine months ended September 30, 2013, the company reported that it sustained its growth trajectory as its net income grew by 12 percent to P1.6 billion from the P1.4 billion posted in the same period last year.

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