Century Properties allots PHP30 billion for 3-year portfolio expansion
Century Properties Group (CPG) has reserved PHP30 billion for its three-year expansion plan that covers its three business segments—its recurring income portfolio of leasing assets, its new line of Urban Villages, and horizontal affordable housing, while also focusing on its leisure and tourism business.
Jose Marco Antonio, CPG president and chief executive officer, said the company plans to grow its commercial leasing portfolio with a goal of reaching PHP2 billion in leasing revenues by 2020. He said the expansion is due to the growth in the office market fueled by the information technology-business process outsourcing (IT-BPO) sector and continued economic growth.
Antonio added that the office sector will continue to grow at healthy rates citing the continued trend of co-working, infrastructure projects and the Philippine Economic Zone Authority’s (PEZA) initiative to create national inclusivity by developing economic zones outside Metro Manila.
Aside from expanding its commercial leasing portfolio, Century Properties will also launch affordable mid-rise homes and in-city residences targeted at young workers and professionals, and young families.