PHirst Park pre-sold over 3,000 mass housing units worth P4.4 B

Published May 4, 2019, 12:00 AM

by manilabulletin_admin

By James A. Loyola

PHirst Park Homes, the affordable housing brand of Century Properties Group Inc., has successfully pre-sold more than 3,000 housing units worth P4.4 billion from its first three projects.

In a statement, the firm said that the strong uptake are due to its affordable housing projects located in Tanza, Cavite; Lipa, Batangas; and the recently launched 18.5-hectare development in San Pablo, Laguna.

“The strong pre-sales of CPG’s affordable housing segment are expected to translate to sustained higher contribution to the company’s bottom line as more housing units are scheduled to be completed in the next quarters,” said CPG Chief Financial Officer Ponciano S. Carreon.

CPG’s first project for affordable housing was PHirst Park Homes Tanza, a partnership with the global business enterprise Mitsubishi Corporation that was launched in May 2017.

Its success led the two firms to form a joint-venture company in 2018 to undertake a total of 15 masterplanned communities under the name PHirst Park Homes, Inc. (PPHI).

The first two projects assigned under PPHI are PHirst Park Homes Lipa and PHirst Park Homes San Pablo.

Of the more than 3,400 launched units in the three projects, 95 percent has been pre-sold to date.

The Tanza project, a 26-hectare horizontal community with nearly 2,900 homes and a total sales value of P4.6 billion has pre-sold 94 percent of launched units worth P2.6 billion.

The 20-hectare Lipa project has pre-sold 98 percent of launched units worth P1.4 billion of close to 1,900 units valued at P2.8 billion.

The San Pablo property was officially unveiled only last March 2019. Its Phase 1 has pre-sold 91 percent of launched units worth P597million of 1,640 units with a total sales value of P2.7 billion.

“The success of PHirst Park Homes is proof positive of the demand for quality homes with the best value and competitive pricing. Developers have barely scratched the surface in addressing the country’s housing backlog, and PHirst is doing its share by focusing on the huge demand in the Calabarzon and Central Luzon regions,” said PHirst Park Homes President Ricky Celis.