Century Properties Group’s affordable housing brand pre-sells more than 3,000 homes for Php 4.4 billion across 3 projects since launch.
[May 2019] PHirst Park Homes – the affordable housing brand of Century Properties Group Inc. (PSE: CPG) – has announced that it successfully pre-sold more than 3,000 housing units from its first three projects with a sales value of Php 4.4 billion as of April 30, 2019.
Contributing to the strong uptake are CPG’s affordable housing projects under the PHirst Park Homes brand located in Tanza, Cavite; Lipa, Batangas; and its most recently launched 18.5-hectare development in San Pablo, Laguna.
“The strong pre-sales of CPG’s affordable housing segment are expected to translate to sustained higher contribution to the company’s bottom line as more housing units are scheduled to be completed in the next quarters,” said CPG’s Chief Financial Officer Ponciano S. Carreon.
CPG’s first project for affordable housing was PHirst Park Homes Tanza, a partnership with the global business enterprise Mitsubishi Corporation that was launched in May 2017. Its success led the two firms to form a joint-venture company in 2018 to undertake a total of 15 masterplanned communities under the name PHirst Park Homes, Inc. (PPHI). The first two projects assigned under PPHI are PHirst Park Homes Lipa and PHirst Park Homes San Pablo.
Of the more than 3,400 launched units in the three projects 95 percent has been pre-sold to date. The Tanza project, a 26-hectare horizontal community with nearly 2,900 homes and a total sales value of Php4.6 billion has pre-sold 94 percent of launched units or Php2.6 billion. The 20-hectare Lipa project has pre-sold 98 percent of launched units or Php1.4 billion of close to 1,900 units valued at Php2.8 billion. The San Pablo property was officially unveiled only last March 2019. Its Phase 1 has pre-sold 91 percent of launched units or Php597 million of 1,640 units with a total sales value of P2.7 billion.
Added PHirst Park Homes President Ricky Celis: “The success of PHirst Park Homes is proof positive of the demand for quality homes with the best value and competitive pricing. Developers have barely scratched the surface in addressing the country’s housing backlog, and PHirst is doing its share by focusing on the huge demand in the Calabarzon and Central Luzon regions.”
The PHirst Park Homes projects bear the signature 4Cs: Complete and well-provisioned homes with a perimeter fence and gate, Conceptive amenities including an outdoor cinema, Connected living through WiFi zones and shuttle services, and a Convenient and simplified selling and buying experience.
After Tanza, Lipa and San Pablo, CPG is set to launch more communities in north and south Luzon, which the company has identified as growth areas with a high concentration of OFW families, unmet demand for housing, and where infrastructure projects are in place.
Source: CPG Blog | May 3, 2019