Century Properties to complete 4 projects in 2014


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Century Properties expects a good 2014 with 4 developments set to be finished this year

CENTURY PROPERTIES. The Azure Urban Residences Beach Club was designed by Paris Hilton for Century Properties. Photo from Century Properties' Facebook page

MANILA, Philippines – Century Properties Group Inc. said on Tuesday, February 11 that it will complete 4 real estate development projects in 2014 to boost company revenues.

Century Properties disclosed that it will turn over more than 500 clinic suites at the Centuria Medical, a 28-story outpatient IT-medical arts within Century City in Makati.

The Century City mall, the company’s first shopping mall project, is also set to have a soft opening this month. The mall comes with 17,000 square meters of leasable space, 90% of which is already leased out to over 100 tenants. Tenants include premium cinemas, a cafe, restaurants, specialty stores and boutiques, and a high-end supermarket.

The developments add onto the February turnover of around 600 units at the St. Tropez Building at the Azure Urban Resort Residences in Paranaque. The St. Tropez is the third tower of the 9-building residential resort development. Two towers previously turned over provided 1,300 units in 2013.

In March, the firm will also officially open the Azure’s Paris Beach Club. Designed by celebrity Paris Hilton, the Beach Club is a multi-level amenity center.

Century Properties chairman and chief executive officer Jose E.B. Antonio said Century Properties started the year with record pre-sales growth, and added it intends “to keep this momentum going with the same aggressive and impassioned approach we took in the past year.”

Antonio added, “The results were tremendous so we expect to perform no less in 2014.”

Century Properties has some other buildings in various stages of construction in Century City. These include Milano Residences, Trump Tower, Century Spire, and Forbes Media Tower. Milano Residences is currently scheduled for a 2015 turnover with Trump Tower set for 2016 and Century Spire slated for 2018.

Construction works are also on track for the Acqua Private Residences, a multi-tower community development in Mandaluyong. Its first tower, Sutherland, will be turned over in 2015. Construction for the rest of the towers is also ongoing.

Construction is also continuing for the first 3 buildings of the 8-tower Commonwealth project. The first building in this project has a scheduled turnover date of 2015.

Century Properties recorded P24.6 million in reservation sales in 2013, the highest in its history. – Rappler.com

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