Antonio family-controlled Century Properties Group Inc. (CPG) reported a 31-percent year-on-year jump in net income to a record ₱2.44 billion in 2024, from ₱1.86 billion a year ago.
In a disclosure to the Philippine Stock Exchange, the property firm said its revenues also hit an all-time high of ₱14.64 billion, up 14 percent from the previous year, fueled by a booming first-home market and continued momentum in the company’s premium residential business segment.
“This banner year reinforces CPG’s successful pivot to address the surging demand for affordable housing across the country,” the company said.
Revenues from the first-home segment jumped 34 percent to ₱9.9 billion in 2024, from ₱7.4 billion the previous year, as higher-end offerings contributed ₱3 billion. Its leasing and property management arms added ₱1.31 billion and ₱464 million, respectively.
“We are very pleased with our 2024 performance, which reflects our commitment to operational excellence, successful project completions, and effective debt management,” said CPG President and CEO Marco R. Antonio.
He noted that “Our focus on delivering affordable, quality homes continues to meet the strong demand across various market segments.
“The year also saw CPG aggressively expanding its geographical reach with the launch of multiple projects in north and south Luzon across both the first-home and premium markets. Additionally, we ventured into the Visayas, bringing our promise of quality, affordable homes to more Filipino families.”
Antonio added that the synergy between government infrastructure investments and CPG’s regional growth strategy would bolster sales.
“The government’s infrastructure flagship projects—especially those boosting nationwide connectivity—will quickly drive progress and, consequently, increase the demand for quality homes across the country.
“We are committed to capitalizing on these emerging opportunities and fulfilling the aspirations of homeowners with our Century-branded developments,” he said.
Backing this performance is a strong financial position. The company’s total assets grew three percent to ₱55.9 billion, while interest-bearing debt was trimmed by 16 percent, a move that significantly boosted returns.
“The confluence of the management’s prudent balance sheet handling, operating efficiency initiatives, and sensitivity to market needs allowed Century to achieve strong financial results in 2024,” said CPG Chief Financial Officer Ponciano S. Carreon Jr.
He added that, “Our healthy financial position and key indicators will enable us to continue on our planned trajectory, with more than enough cushion to navigate persistent industry headwinds and increase value for our shareholders over time.”
Carreon also pointed to the favorable macroeconomic outlook as a tailwind for CPG’s future ambitions.
“Our positive outlook on current and expected domestic policies, along with the stable economic landscape, gives us high confidence in CPG’s expansion through organic growth, strategic acquisitions, and partnerships,” he said.
With its 2024 results setting a new benchmark, CPG said it is sharpening its focus on scale and reach through a twin-engine strategy. By blending affordability with aspirational living in underserved growth corridors, the company is not just building homes—but building lives and uplifting communities.
This strategy combines CPG’s strong first-home segment performance with the synergy of its premium residential segment, driving overall growth.