Century Properties enters affordable housing market
CENTURY Properties Group, Inc. is set to expand into the mid-income residential market through its new subsidiary Century PHirst Corp.
In a press release on Thursday, the property developer said that its subsidiary PHirst Park Homes, Inc., which is mainly focused on first-time homeowners, will venture into the socialized, economic, and mid-income residential markets.
“The formation of the new subsidiary for the PHirst brand shows our deep commitment to cater to the diverse needs of first-time homebuyers in the Philippines. With this strategic initiative, we are poised to bring more quality homes to the market, that are accessible to a wider range of Filipinos,” said Jose Marco R. Antonio, president and chief executive officer of Century Properties.
Century PHirst will oversee three flagship projects in Laguna, Batangas, and Bataan provinces.
“These expansion efforts bring forth a broader range of housing packages and price points to provide first-time home buyers with a wider set of options to acquire their very own PHirst home,” Century Properties said.
PHirst Editions Batulao — the 14.1-hectare development project in Batangas with an estimated P3.06 billion in total sales value — will provide 629 single attached and single detached units in the area.
The floor areas of the house model range from 54 to 120 square meters (sq.m.), and typical lot areas range from 88 to 132 sq.m. The homes are priced at P3.2 million to P6 million.
Additionally, the company has introduced a P2.3-billion housing project in Bay, Laguna spanning 15.3 hectares and offering 1,818 units. The project is set to be launched on March 18.
PHirst Sights Bay will offer socialized and economic housing with two house models ranging from 30 to 36 sq.m. with a typical lot area of 40 to 56 sq.m. The socialized housing will be priced at P580,000 while economic homes will range from P800,000 to P1.5 million.
Meanwhile, the company targets to launch its first mixed-use township in Bataan. Valued at P6.47 billion, the project will cover 36 hectares and will offer 2,041 units.
“PHirst Centrale Hermosa has become the latest ‘it’ town where individuals convene to reside, innovate, and flourish based on the township’s three fundamental principles: Dwell, Create & Thrive,” the company said.
PHirst Centrale will include residential, commercial, and retail establishments, it added.
“Residents can lead a stylish lifestyle, revel in various breathtaking activities and livelihood opportunities, and cultivate their social networks, enhancing their quality of life with more ease and excitement,” it said.
The P3.1-billion residential area of the project will cover 14.5 hectares with 1,574 units at prices ranging from P1.7 million to P2.5 million.
The commercial development project will cover 3.1 hectares valued at P602 million and will have 21 units available for sale ranging from 503 to 1,531 sq.m. per lot.
According to Century Properties, PHirst has so far built 5,908 units and turned over 3,835 houses to its clients.
On Thursday, Century Properties shares declined by 1.37% or P0.005, finishing at P0.36 each at the stock exchange. — Adrian H. Halili