CPG sees strong sales of residential offerings | Inquirer Business
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CPG sees strong sales of residential offerings

/ 05:22 AM January 01, 2021

Antonio family-led Century Properties Group (CPG) expects to deliver much more residential units this year compared to last year, despite the prolonged coronavirus pandemic.

In 2020, CPG turned over 1, 200 units. From February to April next year, another 1, 600 units will be delivered to home-buyers, the company announced.

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Construction is currently ongoing at Commonwealth by Century in Quezon City, Batulao Artscapes in Nasugbu, Batangas, and Azure North in San Fernando, Pampanga.

CPG, however, has temporarily closed and deferred the opening of its 310-room hotel operation at the Tower 6 of Acqua Private Residences, citing the need to protect the safety of staff and guests, alongside stakeholder interest.

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“With the health of its employees, on-site personnel and construction workers, one of its priorities, the company extended assistance by providing additional resources, setting up flexible work arrangements, and conducting regular testing. Before resuming construction in its project sites, workers and employees underwent testing and protocols were put in place to avoid the spread of the virus,” CPG said in its year-end 2020 report.

CPG said it was ready to take on 2021 with optimism, vowing to realign its strategies to meet the changing consumer needs. It seeks to diversify its portfolio for further expansion, while reducing its carbon footprint and creating buildings with the future of the planet in mind.

Recognizing the need to meet clients on another platform, CPG ramped up its digital efforts. It enhanced its websites to include virtual tours, allowing potential homeowners to view the properties without having to go to the actual location.

CPG also introduced a client credit assistance program to guide clients on the requirements needed when applying for a home loan in any of its accredited banks. It also developed Cora- the customer online records assistant, which can update homeowners on development progress, track receipts and documents, and pay for monthly amortizations via credit card.

In the first half of 2020, CPG reported P1.6 billion in reservation sales equivalent to 1,925 homes. These cover 651 units under its in-city vertical developments business and 1,274 house and lot units under affordable housing brand, PHirst Park Homes.

PHirst Park Homes launched its sixth and seventh horizontal community this year in Nasugbu, Batangas and in Magalang, Pampanga, respectively. This brand posted reservation sales worth P3.12 billion from its first six projects in Cavite, Laguna, Bulacan and Batangas for the first six months of 2020.

On commercial leasing, CPG acquired the 40-percent stake of joint venture partner, as subsidiary of Mitsubishi Corp., in Philippine Economic Zone Authority-accredited Century Diamond Tower in Makati City.

CPG also contributed to the conversion of the Philippine Sports Stadium in Bulacan into a COVID-19 mega testing facility with a minimum testing capacity of 1, 500 per day. Recently, it also helped expedite the purchase of up to three million COVID-19 vaccines together with more than 30 other companies through a tripartite agreement with the government and AstraZeneca.

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TAGS: Century Properties Group (CPG), Residential Units
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