Century Property to sell P5.4B in affordable housing this year | Inquirer Business
To use proceeds from latest bond offer

Century Property to sell P5.4B in affordable housing this year

05:24 AM February 16, 2022

Century Property Group’s affordable housing arm, PHirst Park Homes Inc. (PPHI), is set to bring P5.47 billion worth of fresh residential inventory to the mass market this year, using part of the proceeds from its latest bond offering.

PPHI, Century’s joint venture with Mitsubishi Corp., is set to launch new projects in four new sites with a combined total of 3,029 units. The first will be in Naic, Cavite, followed by PPHI’s foray into the province of Bataan.

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With 1,948 units, PHirst Park Homes Naic will be the company’s third project in Cavite while the Bataan project will offer 1,081 units and is the company’s fourth development in the northern part of Luzon.

The two other projects, which will be announced soon, will be located in Central Luzon, Century said in a press statement on Tuesday.

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In 2021, PPHI had launched three projects in General Trias, Baliwag and Tayabas.

First home buyers

“We expect to remain the strong choice for first home buyers as we continue to deliver beyond industry standard offerings for our projects,” PPHI president and CEO Ricky Celis said.

“The new projects will continue to bear the quality that buyers have patronized in all PPHI properties,” he added.

Since the inception of PPHI in 2017, the company had launched 10 masterplanned communities located in the following areas: Tanza, Cavite; Lipa, Batangas; San Pablo, Laguna; Pandi, Bulacan; Calamba, Laguna; Nasugbu, Batangas; Magalang, Pampanga; General Trias, Cavite; Tayabas, Quezon; and Baliwag, Bulacan.

“We will keep on serving the new generation of real estate buyers with quality homes through PPHI as affordable housing has proven to be strong even through the challenging periods in recent years,” Century president and CEO Marco Antonio said.

The upcoming projects will feature a “show village,” which will open soon to showcase what PPHI describes as “4Cs”: “complete and well-provisioned homes with a perimeter fence and gate; ‘conceptive’ amenities that promote a healthy and holistic lifestyle; connected living through Wi-Fi zones and a shuttle service; and a convenient and simplified selling and buying experience.”

Recently, Century priced a new five-year retail bond offering to yield 5.7524 percent per annum, a funding exercise that will raise as much as P3 billion for the group’s affordable housing and debt management programs.

—Doris Dumlao-Abadilla
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TAGS: Century Property Group, PHirst Park Homes Inc. (PPHI)
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