Century Properties claims 10% market share in residential condo

MANILA, Philippines–Property developer Century Properties Group, Inc. has reported a substantial increase in market share in residential condominium sales in the first nine months of the year.

In a press statement, the property firm said its market share had jumped to 10 percent from 6 percent at end-September compared to a year ago. As such, Century now ranks third largest among its peers in condominium pre-sales in Metro Manila, based on data of property expert Colliers International.

“In 2011, Century has executed its business plan of differentiating its products, and selling to local residents and to the global Filipinos. We owe our success in 2011 to the market’s acceptance of Azure Urban Residences in Paranaque, Acqua Residences in Mandaluyong, and three towers in Century City including Centuria Medical Makati,

Milano Residences and Trump Tower Manila,” said Century chief financial officer Jose Carlo Antonio said.

Century Properties, which gained backdoor listing on the Philippine Stock Exchange through dormant firm East Asia Power Resources Corp., was originally incorporated in 1975 as Northwest Holdings and Resources Corp. Last September, its corporate name was changed to its present name alongside the change in its primary business purpose from power generation to that of a holding company and real estate business.

The property group has over 26 years of experience in real estate. It has a combined portfolio of more than 65 projects under development and property management.

In 2010 and 2011, Century announced project collaborations with international brands Versace Home, Paris Hilton, GE Healthcare, and the Trump organization as part of its mission to elevate the Philippines as a “premiere real estate destination and assist in the country’s positioning as an international destination with globally-recognized brands.”