Real estate developer Century Properties Group Inc. will sustain its horizontal development and its push to other regions in the Visayas and Mindanao as it recalibrates plans for its vertical residential business.
“Going forward, we will choose to remain prudent in terms of project launches and vertical development segment to mitigate the risks associated with long-duration projects,” CPG president and CEO Marco Antonio said.
“We will calibrate our strategy for vertical development to have faster development cycles and less external financing required through more low rise buildings and medium rise buildings,” he said.
The company will continue to expand and diversify its horizontal product offerings through Phirst Park Holmes Inc. and its new subsidiary Century Phirst Corp., its vehicle for the socialized and economic housing segment, the mid-income market space and the mixed-use development format.
“We will continue to add more projects under our core product line which is the P1.5 million to P3.5 million product line,” Phirst Park president Ricky Celis said.
He said the company plans to launch two more developments in the third quarter of this year, one of which will be in Lipa, Batangas and another one in Laguna.
The firm made its pilot run into the P650,000 to P1.4 million price point market in Laguna, while its Batulao project in Nasugbu, Batangas marks their entry into the P4 million to P8 million market space.
Phirst Centrale Hermosa in Bataan is a master planned mixed-use project showcasing the group’s township product line.
