CPGI expands horizontal business, rethinks vertical
Published Jul 1, 2023 07:53 am
Century Properties Group Inc. will continue the aggressive expansion of its horizontal developments, including its venture into Visayas and Mindanao, while recalibrating the strategy for its vertical residential business.
During the firm’s annual stockholders’ meeting, CPGI President and CEO Marco Antonio said that, “Going forward, we will choose to remain prudent in terms of project launches and vertical development segment to mitigate the risks associated with long duration projects.”
Century Properties Group President and CEO Marco Antonio
“We will calibrate our strategy for vertical developments to have faster development cycles and less external financings required through more low rise buildings and medium rise buildings,” he added. Meanwhile, CPGI will continue to expand and diversify its horizontal product offerings through PHirst Park Holmes Inc. (PPHI) and its new subsidiary Century PHirst Corporation (PHirst) which is the group’s vehicle for entering the socialized and economic housing segments, the mid-income market space and its venture into the mixed-use development format. “We will continue to add more projects under our core product line which is the P1.5 million to P3.5 million product line,” said PPHI President Ricky Celis. He noted that, PPHI plans to launch two more developments in the third quarter of this year, one of them in Lipa, Batangas and another one in Laguna. “Moreover, we are also preparing for the unveiling of our very first project in the Visayas region, which will kick off the execution of our VisMin expansion strategy,” Celis said. The firm made its pilot run into the P650,000 to P1.4 million price points market in Laguna while its Batulao project in Nasugbu, Batangas marks their entry into the P4 million to P8 million market space. Meanwhile, PHirst Centrale Hermosa in Bataan is a masterplanned mixed-use project that will showcase the group’s concept for its township product line. “Combined, all of these offerings come to a total of about 3,000 units, initially, with a sales value of about P5.8 billion,” Celis said. He noted that PHirst will now be able to provide first home buyers with the residential investment range of P650,000 to P8 million, which qualifies Filipino families earning monthly household incomes from P12,000 to P240,000. This spectrum also makes up the current 6.5 million Philippine housing backlog for 2023. “PHirst will be able to launch an additional four projects. And that's a fresh 5,800 units valued at close to P11.3 billion,” said Celis.
Century Properties Group President and CEO Marco Antonio
“We will calibrate our strategy for vertical developments to have faster development cycles and less external financings required through more low rise buildings and medium rise buildings,” he added. Meanwhile, CPGI will continue to expand and diversify its horizontal product offerings through PHirst Park Holmes Inc. (PPHI) and its new subsidiary Century PHirst Corporation (PHirst) which is the group’s vehicle for entering the socialized and economic housing segments, the mid-income market space and its venture into the mixed-use development format. “We will continue to add more projects under our core product line which is the P1.5 million to P3.5 million product line,” said PPHI President Ricky Celis. He noted that, PPHI plans to launch two more developments in the third quarter of this year, one of them in Lipa, Batangas and another one in Laguna. “Moreover, we are also preparing for the unveiling of our very first project in the Visayas region, which will kick off the execution of our VisMin expansion strategy,” Celis said. The firm made its pilot run into the P650,000 to P1.4 million price points market in Laguna while its Batulao project in Nasugbu, Batangas marks their entry into the P4 million to P8 million market space. Meanwhile, PHirst Centrale Hermosa in Bataan is a masterplanned mixed-use project that will showcase the group’s concept for its township product line. “Combined, all of these offerings come to a total of about 3,000 units, initially, with a sales value of about P5.8 billion,” Celis said. He noted that PHirst will now be able to provide first home buyers with the residential investment range of P650,000 to P8 million, which qualifies Filipino families earning monthly household incomes from P12,000 to P240,000. This spectrum also makes up the current 6.5 million Philippine housing backlog for 2023. “PHirst will be able to launch an additional four projects. And that's a fresh 5,800 units valued at close to P11.3 billion,” said Celis.