LISTED Century Properties Group, Inc. (CPG) plans to launch 10 projects under its first-home residential development segment, PHirst, over the next two years as it expands its nationwide footprint.
CPG President and Chief Executive Officer Jose Marco R. Antonio said during the company’s annual stockholders’ meeting last week that the upcoming launches include the company’s first development in Mindanao, which is scheduled for the third quarter.
“The next five years will see continued growth and sustained launches from PHirst, highlighting our vision of becoming a leading enabler of first-time home buyers in the country,” he said.
PHirst President Ricky M. Celis said the segment is on track to open six to eight new projects across different brands in 2025, covering about 100 hectares.
The upcoming developments will consist of more than 10,000 units with a projected sales value of P25 billion.
“This will include our maiden entry into Mindanao, which is another concrete step to our envisioned nationwide presence,” Mr. Celis said.
Mr. Celis also said PHirst is aiming to expand its footprint in regional centers across the country.
“The plan is to continue to launch in targeted growth centers and emerging economic hubs, where demand size, market affordability, and infrastructure development [are] the main features,” he said.
“Seven out of the 17 administrative regions in the Philippines will be the main focus of our socialized, economic, affordable, and mid-income residential housing developments,” he added.
CPG has allocated P12 billion in capital expenditures this year, of which P10 billion is earmarked for PHirst Park Homes, Inc. and P2 billion for the company’s premium line.
In the first quarter, CPG’s net income rose by 16% to P473 million, while consolidated revenue increased by 4% to P3.72 billion. PHirst accounted for 60%, or P2.24 billion, of total revenue.
CPG shares were last traded on June 27, rising by 1.52% or one centavo to 67 centavos apiece. — Revin Mikhael D. Ochave
