Century Properties maps out P110 billion expansion plan for PHirst Park

MANILA, Philippines — Century Properties Group Inc. (CPG), the property development arm of the Antonio family, has mapped out an aggressive expansion plan which involves launching P110 billion worth of projects over the next five years under its PHirst Park Homes brand.

PHirst Park Homes president Ricky Celis said the company intends to launch 35 new projects that will bring in 50,000 units worth P110 billion and 490 hectares of new stock over the next five years.

“The expansion involves a combination of its signature standalone horizontal development model and the masterplan township format while venturing into new product types and concepts to address underserved market demand and strategically focused on targeted growth areas and territories, which we started in the south and north of Metro Manila, and now ready to spread our footprints across the vast and customer rich grounds of Visayas in Mindanao,” he said.

CPG in November last year completed the acquisition of Mitsubishi Corp.’s 40 percent stakes in PHirst Park Homes and Tanza Properties.

Under the PHirst brand, CPG managed to open 20 projects at the end of 2023.

“CPG has always believed in the growth opportunity in the PHirst Home market and the instance we gained control over the business, we immediately started to consolidate our efforts to pursue a more aggressive expansion plan built around the prospects of a huge Philippine housing backlog,” Celis said.

Now fully owned by CPG, PHirst is expanding geographically to achieve a nationwide presence with sustainable product delivery.

PHirst recently launched PHirst Park Homes Bacolod, fueling its expansion in the Visayas region.

CPG president and CEO Marco Antonio said the company will be launching five new projects under the PHirst brand this year covering 85 hectares with over 8,000 units worth P18 billion of fresh inventory.

Antonio said three of these developments will be in Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) while the other two will be in Central Luzon.

“PHirst strategically targets high growth regions where there’s strong demand for affordable and quality housing options. This geographic diversification mitigates risk and enhances the company’s market reach,” he said.

Antonio said CPG would move forward with the expansion of its horizontal developments, including a strategic move to venture into Visayas and Mindanao, while recalibrating the strategy for its vertical residential business.

“We will choose to remain prudent in terms of project launches under our vertical development segment to mitigate the risk associated with long duration projects,” he said.

For its in-city vertical developments, Antonio said CPG is looking to unveil upcoming projects tailored to meet the evolving needs of various market segments, as well as the mid-rise residential development within Azure North estate in San Fernando, Pampanga.

He said the upcoming projects within the Azure North estate will include six mid-rise towers that can potentially contribute an inventory valued at P16.2 billion.

According to Antonio, the first mid-rise building to be launched this year will consist of 374 units, with an estimated sales value of P2.8 billion and a capital expenditure of P1.2 billion.

“Through these projects CPG aims to capitalize on the robust demand for high quality residential properties in key urban centers. These developments not only contribute to the company’s revenue growth, but also enhance its brand reputation as a developer of choice for upscale urban living solutions,” he said.