Century Properties Group Inc. (CPG), through its wholly-owned affordable housing subsidiary PHirst Park Homes, is planning to aggressively launch 35 projects over the next five years as the Philippine housing backlog remains huge.
During the CPG annual stockholders’ meeting, PHirst Park President Ricky Celis said they are currently poised to launch 35 new projects over the next five years that will bring in 50,000 units worth P110 billion.”
For this year alone, CPG President Jose Marco R. Antonio said, “We will be launching five new projects covering 85 hectares with over 8,000 units worth P18 billion of fresh inventory.”
He added that, “three of these developments will be in Calabarzon while the other two will be in central Luzon” noting that “PHirst strategically targets high growth regions where they is strong demand for affordable and quality housing options.”
Meanwhile, Celis the 25 projects they will develop over the next five years will amount to 490 hectares of new stock covering price points ranging from P850,000 to P8 million.”
These will involve a combination of its signature stand-alone horizontal development model and the masterplanned township format.
He added that, PHirst will be venturing into new product types and concepts to address underserved market demand and strategically focused on targeted growth areas and territories which we started in the south and north of Metro Manila.”
Celis said they are now “ready to spread our footprints across the vast and customer-rich grounds of Visayas and Mindanao.
“The next five years will be very exciting for CPG as we aim to enter new and sustained levels of revenue being contributed by all business units with the PHirst platform being the main driver,” he said.
Antonio explained that, “the main part of our strategy to achieve long term growth is to really match our product line to the market needs. So, aside from the PHirst Park which caters to affordable housing, we're actively looking at the premium and high middle income market segments with Azure North in Pampanga this year and new sites in 2025 onwards.”
Meanwhile, he said that, “regarding the firm’s for lease assets, given the current high interest rates and oversupply in office, we're just focusing on leasing assets that directly contribute to our housing developments versus building stand alone for lease assets.”