After Trump, Century to partner with another A-lister
MANILA, Philippines – After tying up with the Trumps, real estate developer Century Properties is looking to partner with another globally-known personality for a future development, said CEO Jose Antonio.
While details could not yet be revealed, Antonio said at a press briefing on Friday, April 8, that the future partnership with an international figure will be announced soon.
“Similar to our past partnerships, we want to make sure there is relevance instead of just partnering with a name,” said Antonio.
Century Properties has made a name for itself in the local real estate industry by partnering up with A-list celebrities; hotel heiress Paris Hilton, and real estate mogul and TV personality, Donald Trump.
Trump is the face behind the $150-million Trump Tower TM Manila, a 56-storey residential building in the sprawling business district of Makati City, while Hilton was hired to design part of its landmark project, the Azure Urban Resort, her first venture into real estate.
When asked if his high end tower, Trump Tower TM Manila, is sustainable he replied that the fact that it is already 72% pre-sold shows that there is demand.
“The prices we get for the luxury brands attract not only high net worth individuals but also foreign buyers. The price of our Trump tower compared to a similar luxury product in Singapore or HK is about an 85% discount. When people see you are offering this world class product as such as discount, they buy,” said Antonio.
These names have definately put the developer on the map with Century Properties posting a net income of P1.86 billion in 2012, up over 114% from P866 million in 2011.
“Growth has been robust,” said Jose Carlo Antonio, CFO of Century Properties. - Rappler.com