Century to market more affordable houses

Antonio family-led Century Properties Group Inc. (CPG) is set to launch at least P10.6 billion worth of residential units in the next two years, including affordable housing, a segment where it intends to be a significant player in the coming years.

From this year through 2018, CPG will bring to the market 3,381 residential units, mostly from its foray into affordable housing in Tanza, Cavite. This 26-hectare project offers 2,877 units valued at P4.5 billion.

CPG founder and chair Jose Antonio told reporters after the company’s stockholders meeting Thursday that the company’s goal would be to eventually produce an annual inventory of 20,000 units of affordable housing. This business could grow to account for about a third of CPG’s total revenues and net profit by 2020, he added.

Bulk of CPG’s affordable housing projects, he said, may be priced at P1.4 to P1.5 million.

He said CPG was also working to close a few other property deals in Cavite, Laguna, Batangas and Bulacan, all of which would be devoted to affordable housing.

“We’d like to take the opportunity of [serving] the rising middle class. We’ll build communities that are affordable,” he said. —DORIS DUMLAO-ABADILLA