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MANILA, Philippines – Listed property developer Century Properties Group (CPG) allocated P30 billion worth of capital expenditures until 2021 as the company aims to build a line of in-city residential developments in the next 12 months.
In a regulatory filing on Friday, June 28, CPG chairman Jose Antonio announced the company’s new project, Urban Villages, during their annual stockholders meeting.
The Urban Villages line, which will cater to the young workforce, follows CPG’s first affordable housing project PHirst Park Homes. These will be built in rising central business districts and “its peripheries in Quezon City, Mandaluyong, and Pampanga.”
“[T]hese residential communities will be CPG’s answer to the urgent need for conveniently-located and well-planned homes fitted with modern social spaces at attainable prices,” the disclosure read.
The company currently has 307,000 square meters of leasing assets, which are expected to generate P2 billion in revenues by next year.
Aside from PHirst Park and Urban Villages, CPG also has a line of leisure homes developments, such as the Batulao Artscapes township in Nasugbu, Batangas. CPG said it has generated P2.9 billion in sales from Batulao as of December 2018. – Rappler.com
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