Quantcast
Latest Stories

Century Properties to build mid-rise condo



High-rise property developer Century Properties Inc. plans to invest P4.8 billion in a mid-rise residential condominium project in Quezon City, marking its foray into the affordable residential market.

“We will hit multi-product and multi-pricing. Right now, we’re known for upper-end [projects] but we’re going to the affordable mid-rise [developments],” Century Properties chairman and founder Jose Antonio told reporters.

The first affordable housing project will be located at a four-hectare property at the back of Ever Gotesco Mall in Commonwealth, Quezon City. This would be targeted for launching this December, Antonio said.

In general, the affordable housing units in mid-rise buildings to be developed by Century Properties, Antonio said, would be sold for P1.5 million but no more than P3 million.

“If you buy P1.5 million to P2 million worth of units, monthly amortization is about P12,000, so it’s very affordable,” he said.

The mid-rise buildings in sub-urban locations, Antonio said, would have less than 10 stories.

Antonio said the group was considering to acquire more land for affordable residential community.

By going down-market, the group seeks to capture a broader segment of the market. While Century Properties has focused on the A, B and upper C market, Antonio said the potential to tap the market below this was “limitless.”

Century Properties is listing on the Philippine Stock Exchange through dormant East Asia Power Resources Corp., which obtained shareholders’ approval Monday last week to change its name to Century Properties Group Inc. (CPG) alongside a quasi-organization framework to wipe out the deficit and allow the infusion of Antonio’s business into the company.—Doris C. Dumlao


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Century Properties , company , condo , Investments , Philippines , property , Quezon City , Real Estate

  • http://pulse.yahoo.com/_ZWTTKJTI57YO7TZBJC66GA2OLU dennis

    Dapat naman talaga eh Mid-rise condo lang ang ipagawa sa Pilipinas because we are in the “Pacific Ring of Fire”…People who are living outside the country knows it well that the dangers behind the High rise in a country with calamities like Earthquakes,Typhoon etc can cause structural damage in a unit or building.Hindi tanga ang mga nasa abroad para bumili ng isang unit kung High-rise yan coz unang tanong pa lang,”High rise ba or Mid-rise?”Ngayon,kung bibilhin ng taga abroad yan at pauupahan lang,di kaagad matitirahan,talo na kaagad.Sa halip na pataasin nyo ang building eh ibawi nyo na lang sa excellent Amenities.Always remember that Pinoys from abroad ALWAYS HEAR NEWS from media.They are scare to live in a High-rise Building.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace