Property developer and publicly listed firm Century Properties Group Inc. (CPG) exceeded its P20-billion pre-sales target for 2012, hitting P21.4 billion.
Century’s pre-sales figure in 2012 was up 16.6 percent from the P18.4 billion recorded the previous year.
The 26-year-old real estate firm said it attained strong growth in sales due to the robust demand for housing and commercial properties from its market base of local end-users, foreigners and Filipinos working overseas.
Century also expanded its portfolio in 2012, becoming an active player in the luxury, middle-income and affordable segments.
“The demand for real estate remains very strong as proven by our robust sales, and the market recognizes that the timing and conditions are indeed ripe for buying good property. The expanding middle class, more job and income opportunities that lead to an increase in purchasing power, low interest rates, and robust remittances—these and more factors contributed to the growth of Philippine real estate this year, and to the growth of Century as a prime developer,” Century Properties chief operating officer Jose Carlo R. Antonio said.
In 2013, Century plans to complete and turn over five buildings with 4,607 units with 200,564 square meters of net saleable area. These include Gramercy Residences and Knightsbridge Residences at Century City in Makati, and the first three towers of Azure Urban Resort Residences.