Century Properties forms new subsidiary to cater socialized, mid-income residential markets

Antonio-led Century Properties Group Inc. on Thursday announced the creation of a new subsidiary as the company ventures into the socialized, economic, and mid-income residential markets.

In a disclosure to the Philippine Stock Exchange, CPG said its new product lines will be launched under its new unit Century PHirst Corporation (PHirst).

"The formation of the new subsidiary for the PHirst brand shows our deep commitment to cater to the diverse needs of first-time homebuyers in the Philippines. With this strategic initiative, we are poised to bring more quality homes to the market that are accessible to a wider range of Filipinos,” said CPG president and CEO Marco Antonio.

CPG said PHirst is also introducing its version of a mixed-use format which will have multiple residential product offerings, as well as support commercial, retail, and institutional components.

The property developer said expansion efforts would bring a broader range of housing packages and price points to provide first-time home buyers with a wider set of options.

CPG said its new unit will have three flagship projects.

The first project is PHirst’s maiden mid-income development —PHirst Editions Batulao launched on December 10, 2022.

Spanning 14.1 hectares in Batulao, Batangas, this development provides a total of 629 single attached and single detached units with a total sales value of P3.06 billion.

The CPG unit is also launching PHirst Sights Bay, a socialized and economic housing development on March 18, 2023, in Bay, Laguna.

The development occupies 15.3 hectares of land and offers 1,818 units, with a total sales value of P2.32 billion.

Lastly, PHirst will be introducing its first mixed-use township in Bataan —PHirst Centrale Hermosa — on March 25, 2023.

The township covers an area of 36 hectares and will have 2,041 units valued at P6.74 billion.—AOL, GMA Integrated News