CENTURY PROPERTIES Group, Inc. plans to
ramp up its capital expenditure (capex) this year to as much as P8.2
billion, a 13% jump from last year’s spending, in order to bankroll
ongoing construction at four flagship mixed-use projects, the property
developer said in its 2012 annual report.
“The Group (Century Properties) budgeted
between P7,200 million to P8,200 million for capex for 2013 primarily to
fund the development of its four master-planned community project,”
read the report.
The company was referring to its four ongoing master-planned projects:
• Century City, a 3.4-hectare mixed use project in Bel-Air, Makati City
that will have eight condominiums, a shopping mall, and a medical
outpatient facility when completed;
• Acqua Private Residences, a six-tower residential development in Mandaluyong City beside Pasig River;
• Azure Urban Resort Residences, a nine-building, six-hectare
development in Parañaque City that will have a man-made beach and club
designed by socialite Paris Hilton; and
• Canyon Ranch, a 25-hectare subdivision within the 77-hectare San Lazaro Leisure Park in Cavite City.
FUNDING SOURCES
In February last year, Century Properties earmarked as much as P8.3
billion for capex but actually spent P7.26 billion, according to the
annual report.
Century Properties said it plans to bankroll spending this year through various sources.
“The Group expects to fund budgeted capital expenditures principally
through existing cash and cash from operations, through borrowings and
through its share offering,” the company added in its annual report.
Last March, Century Properties raised approximately P1.64 billion from
an overnight, discounted sale of 800 million shares at P2.05 apiece to
various institutional investors.
GROWING
Century Properties, a developer of high-end properties, debuted on the
Philippine Stock Exchange via backdoor listing in September 2011,
replacing dormant energy firm East Asia Power Resources Corp.
As of end-2012, the developer had already completed 5,560 residential
units in 21 condominium buildings in Mandaluyong, Makati, Pasig, Quezon,
and Taguig cities, all with a total gross floor area of 669,857 square
meters (sq. m.), the annual report read.
It was also managing 51 residential and commercial properties by the end of last year.
Century Properties more than doubled its net income to P1.86 billion
last year from P866 million in 2011 on the back of a surge in revenues
from the firm’s property projects, which more than doubled to P9.60
billion from P4.70 billion.
The company aims to grow its net income to P3 billion, and its pre-sales to P30 billion by 2015 -- the firm’s 30th
year in real estate -- on the back of more projects in key growth
cities outside Metro Manila and the development of some 100,000 sq. m.
of land for commercial projects.
Shares of Century Properties jumped by five centavos or 2.38% to close
at P2.15 apiece on Friday last week from their Thursday finish of P2.10
each.
source: Businessworld
Monday, May 6, 2013
Thursday, March 28, 2013
Century, car importer to build Bonifacio tower
Manila Standard Today - Century Properties Group Inc. has teamed up with Asian Carmakers Corp. of businessman Jose Ch. Alvarez to build a P1-billion two-tower development in Bonifacio Global City, Taguig this year.
Century Properties said the plan was to form a new company that would handle the construction of an office building and a hotel with a gross floor area of 30,000 square meters.
ACC, which imports luxury cars such as BMW, is the lessee of the property bounded by 3rd and 4th Avenues and 27th streets in Fort Bonifacio. The lot is owned by Armed Forces and Police Mutual Benefit Association Inc.
The project is part of Century Properties medium-term plan to expand its portfolio to include commercial and tourism developments.
As Century is expecting to complete over 4,000 units with 200,000 net saleable square meters of residential condominium units by December 2013, we are seeking to reinvest earnings into recurring income assets,†Century Properties chairman Jose Antonio said.
We also expect the completion of our lifestyle mall called Century City Mall by the fourth quarter of this year, he added.
For latest information on the
Philippine Real Estate Industry and the Real Estate Service Act (RA9646),
please visit www.ra9646.com.ph.
Century Properties sells 12,289 units in 6 projects
Manila Standards Today - Listed
Century Properties Group Inc. reported strong sales of six real estate
projects in the affordable, middle-income and luxury segments in Metro
Manila.
Century Properties co-chief operating officer Marco Antonio attributed the strong take-up of the company’s residential projects to the shift in market preferences for premium products that offered value, quality and investment potential.
The company reported a take-up rate of 92 percent as of end-2012, equivalent to 12,289 units of Century’s 23 launched buildings.
“The favorable economic backdrop helped boost market confidence and low home ownership rates are empowering end-users and first-time home buyers to make wise choices in their property purchases,” Antonio said.
Century Properties reported that its P8-billion resort-inspired Azure Urban Resort Residences had pre-sold 96 percent for the first seven buildings made available for sale.
Its Quezon City development, the P4-billion Residences at Commonwealth by Century, had 92 of its first seven buildings launched.
The property firm’s middle-income projects registered strong pre-sales, with the P7-billion Acqua Private Residences in Mandaluyong City pre-selling the first 5 buildings within the development.
The P3-billion Milano Residences with interiors designed by Versace Home and Trump Tower at Century City were pre-sold by 87 percent and 72 percent, respectively.
For latest information on the Philippine Real Estate
Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.
Century Properties co-chief operating officer Marco Antonio attributed the strong take-up of the company’s residential projects to the shift in market preferences for premium products that offered value, quality and investment potential.
The company reported a take-up rate of 92 percent as of end-2012, equivalent to 12,289 units of Century’s 23 launched buildings.
“The favorable economic backdrop helped boost market confidence and low home ownership rates are empowering end-users and first-time home buyers to make wise choices in their property purchases,” Antonio said.
Century Properties reported that its P8-billion resort-inspired Azure Urban Resort Residences had pre-sold 96 percent for the first seven buildings made available for sale.
Its Quezon City development, the P4-billion Residences at Commonwealth by Century, had 92 of its first seven buildings launched.
The property firm’s middle-income projects registered strong pre-sales, with the P7-billion Acqua Private Residences in Mandaluyong City pre-selling the first 5 buildings within the development.
The P3-billion Milano Residences with interiors designed by Versace Home and Trump Tower at Century City were pre-sold by 87 percent and 72 percent, respectively.
For more details on Century Properties exclusive residential projects,
you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com.
Century to raise $100m
Manila Standard Today - Property developer Century Properties Group Inc. plans to raise $100
million from a bond offering to support the company’s working capital, a
company executive said.
“Standard Chartered is organizing a $100-million bond offering for the working capital,” Century Properties chairman Jose Antonio told reporters at the sidelines of an economic forum.
The company early this month raised P1.6 billion from an overnight equity placement to fund land acquisition and project expansion.
“The overnight placement recently, we will make that into full use for land bank,” Antonio said.
Antonio said Century Properties’ reservation sales were expected to sustain a strong growth, driven by expanding middle class.
“We expect to grow between 10 to 15 percent for this year…We have consistently been very active in the property sector. We take the opportunities as they come. Right now, I feel the big story is actually the rising middle class in the Philippines. Century Properties is addressing the needs of the middle class,” he said.
For more details on Century Properties Condo Projects, you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com
For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.
“Standard Chartered is organizing a $100-million bond offering for the working capital,” Century Properties chairman Jose Antonio told reporters at the sidelines of an economic forum.
The company early this month raised P1.6 billion from an overnight equity placement to fund land acquisition and project expansion.
“The overnight placement recently, we will make that into full use for land bank,” Antonio said.
Antonio said Century Properties’ reservation sales were expected to sustain a strong growth, driven by expanding middle class.
“We expect to grow between 10 to 15 percent for this year…We have consistently been very active in the property sector. We take the opportunities as they come. Right now, I feel the big story is actually the rising middle class in the Philippines. Century Properties is addressing the needs of the middle class,” he said.
For more details on Century Properties Condo Projects, you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com
For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.
Sunday, March 24, 2013
Biz Buzz: Edifice complex
The ongoing feud between Century Properties of former Ambassador Jose Antonio and Picar Development Inc. of Amable Aguiluz V (himself also an ambassador, incidentally, as the government’s envoy to the Gulf Cooperation Council) seems to have taken a turn for the worse.
This happened about a week ago after Public Works Secretary Rogelio Singson issued an order stopping Makati City’s office of the building official from processing or issuing certificates of occupancy for the five floors that Century Properties added to its Gramercy Residences high-rise along Kalayaan Ave.
Singson’s action was based on a complaint filed by Picar alleging that Century illegally constructed five additional floors for Gramercy.
Picar pointed out that Makati’s city building official issued an amended building permit on June 8, 2012, (allowing the additional floors) four days after Century Properties applied for it. But “the application clearly stated that the five additional floors were ‘finished’ as of June 4, 2012”—before the permit was granted—Picar said in its complaint to Singson.
Picar also claimed that “there is no indication” that Makati officials inspected the project “to ensure that it complied with the National Building Code” or that it conducted the necessary investigation to determine Century Properties’ liability for the construction of the five additional floors without any valid building permit.
Century Properties, for its part, said that its Century City Development Corp. had “adequately complied with all the requirements” of regulators and had “legally obtained the building permit and occupancy permit for the Gramercy Residences, including its five additional floors.”
Our sources in the property industry tell us that one driver of this ongoing war between Antonio and Aguiluz is the bragging rights for having the tallest building in the country.
Gramercy was originally planned to be a 65-storey residential building (back then the highest building in the country). But Antonio and Aguiluz apparently had a falling out and their joint venture to develop the former International School property in Makati soon turned into a war that went steadily from cold to hot.
Picar’s adjacent Stratford Place building
was soon announced to be aiming for 74 storeys (thus having the bragging
rights to being “the tallest”). Let’s just hope neither of them add too
many floors (to the point of structural instability) just for the sake
of bragging rights. Daxim L. Lucas
Monday, March 18, 2013
Real estate taipan calls for ‘branding’ PH
INQUIRER - For Jose E. B. Antonio, the delivery of quality products and services
is the ticket to transforming the Philippines into a global
destination.
“If we, as a people, and as a country, hope to make Metro Manila a global destination, we must deliver our products and services with quality. We must be authentic and sincere in our offerings, because it will represent what we can do as Filipinos to the world,” says the former ambassador and current chairman of property giant Century Properties.
Addressing business leaders during the first 2013 Breakfast Roundtable of the Harvard Business School Club of the Philippines recently, Antonio provides valuable insights on the forum’s theme: “Marketing Manila as an International City.”
The Harvard Business School Club of the Philippines launched the roundtable forums last year as a platform to allow HBS alumni and their guests to interact with business and thought leaders in an intimate setting.
The events are held about twice per quarter. Past speakers include Harvard Business School professor Ranjay Gulati, managing partner of the innovation and growth consulting firm Innosight Scott Anthony, Asian Institute of Management president Steve Dekrey, and Golden ABC president and CEO Bernie Liu.
Antonio, who was a graduate of the Harvard Business School Owner and President Management program, also emphasizes on the importance of branding a city and priming it for tourism and direct foreign investments.
He likewise notes the crucial role that the government plays in boosting tourism arrivals and business activities in the country by making sure, among other things, that crucial infrastructure, such as international airports, are in place.
“The center of economic activity is now in Asia and we should seize this opportunity to move forward,” Antonio further stresses.
For his part, Antonio claims to doing his share in transforming Metro Manila into an international city through Century Properties’ development projects with international lifestyle and luxury brands.
Through such collaborations made with leaders in design, real estate, lifestyle and luxury, Antonio and his company are continuously attracting direct investments in the form of property purchases.
“We try to encourage investments in the Philippines through real estate. It affects 50 other industries and employs thousands of people. One property buyer alone influences the economy,” Antonio explains to forum guests.
The good news, according to Antonio, is that the Philippines is currently attracting both Filipinos overseas and foreign nationals in buying a property in the country. This group, he adds, consists of people who are familiar with the value and quality behind branded products and properties.
“We don’t partner with a brand just because it is popular. We get it for the value, quality and lifestyle that it stands for. We collaborate with brands that have had many years of experience in their respective industries, and we do so because it gives our buyers the values of pride of ownership and the assurance of quality,” Antonio explains.
“I hope what we’re doing in Century inspires you into making Metro Manila a better place. Deliver a good product, deliver good service. This will help Manila become an international city,” he concludes.
With 26 years of experience in the real estate industry, upscale developer Century Properties Inc. has shown how it can relentlessly go beyond firsts and imagination by introducing pioneering concepts and bringing home a number of globally renowned brands and affluent personalities with the likes of Donald Trump, Paris Hilton, Versace S.P.A., Acqua Iguazu yoo inspired by Starck and MissoniHome.
Incorporated in 1983, game changer Century Properties has undoubtedly enhanced the overall quality of life of Filipinos and foreign nationals by providing distinctive, high-quality and affordable properties. Guided by Antonio’s vision, who spearheaded the formation of Century Properties, the company is now one of the Philippines’ Top 5 real estate sales and development firms as measured by total sales value.
“If we, as a people, and as a country, hope to make Metro Manila a global destination, we must deliver our products and services with quality. We must be authentic and sincere in our offerings, because it will represent what we can do as Filipinos to the world,” says the former ambassador and current chairman of property giant Century Properties.
Addressing business leaders during the first 2013 Breakfast Roundtable of the Harvard Business School Club of the Philippines recently, Antonio provides valuable insights on the forum’s theme: “Marketing Manila as an International City.”
The Harvard Business School Club of the Philippines launched the roundtable forums last year as a platform to allow HBS alumni and their guests to interact with business and thought leaders in an intimate setting.
The events are held about twice per quarter. Past speakers include Harvard Business School professor Ranjay Gulati, managing partner of the innovation and growth consulting firm Innosight Scott Anthony, Asian Institute of Management president Steve Dekrey, and Golden ABC president and CEO Bernie Liu.
Antonio, who was a graduate of the Harvard Business School Owner and President Management program, also emphasizes on the importance of branding a city and priming it for tourism and direct foreign investments.
He likewise notes the crucial role that the government plays in boosting tourism arrivals and business activities in the country by making sure, among other things, that crucial infrastructure, such as international airports, are in place.
“The center of economic activity is now in Asia and we should seize this opportunity to move forward,” Antonio further stresses.
For his part, Antonio claims to doing his share in transforming Metro Manila into an international city through Century Properties’ development projects with international lifestyle and luxury brands.
Through such collaborations made with leaders in design, real estate, lifestyle and luxury, Antonio and his company are continuously attracting direct investments in the form of property purchases.
“We try to encourage investments in the Philippines through real estate. It affects 50 other industries and employs thousands of people. One property buyer alone influences the economy,” Antonio explains to forum guests.
The good news, according to Antonio, is that the Philippines is currently attracting both Filipinos overseas and foreign nationals in buying a property in the country. This group, he adds, consists of people who are familiar with the value and quality behind branded products and properties.
“We don’t partner with a brand just because it is popular. We get it for the value, quality and lifestyle that it stands for. We collaborate with brands that have had many years of experience in their respective industries, and we do so because it gives our buyers the values of pride of ownership and the assurance of quality,” Antonio explains.
“I hope what we’re doing in Century inspires you into making Metro Manila a better place. Deliver a good product, deliver good service. This will help Manila become an international city,” he concludes.
With 26 years of experience in the real estate industry, upscale developer Century Properties Inc. has shown how it can relentlessly go beyond firsts and imagination by introducing pioneering concepts and bringing home a number of globally renowned brands and affluent personalities with the likes of Donald Trump, Paris Hilton, Versace S.P.A., Acqua Iguazu yoo inspired by Starck and MissoniHome.
Incorporated in 1983, game changer Century Properties has undoubtedly enhanced the overall quality of life of Filipinos and foreign nationals by providing distinctive, high-quality and affordable properties. Guided by Antonio’s vision, who spearheaded the formation of Century Properties, the company is now one of the Philippines’ Top 5 real estate sales and development firms as measured by total sales value.
For more details on Century Property
projects, you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com.
For latest information on the
Philippine Real Estate Industry and the Real Estate Service Act (RA9646),
please visit www.ra9646.com.ph.
Real estate taipan calls for ‘branding’ PH
INQUIRER - For Jose E. B. Antonio, the delivery of quality products and services is the ticket to transforming the Philippines into a global destination.
“If we, as a people, and as a country, hope to make Metro Manila a global destination, we must deliver our products and services with quality. We must be authentic and sincere in our offerings, because it will represent what we can do as Filipinos to the world,” says the former ambassador and current chairman of property giant Century Properties.
Addressing business leaders during the first 2013 Breakfast Roundtable of the Harvard Business School Club of the Philippines recently, Antonio provides valuable insights on the forum’s theme: “Marketing Manila as an International City.”
The Harvard Business School Club of the Philippines launched the roundtable forums last year as a platform to allow HBS alumni and their guests to interact with business and thought leaders in an intimate setting.
The events are held about twice per quarter. Past speakers include Harvard Business School professor Ranjay Gulati, managing partner of the innovation and growth consulting firm Innosight Scott Anthony, Asian Institute of Management president Steve Dekrey, and Golden ABC president and CEO Bernie Liu.
Antonio, who was a graduate of the Harvard Business School Owner and President Management program, also emphasizes on the importance of branding a city and priming it for tourism and direct foreign investments.
He likewise notes the crucial role that the government plays in boosting tourism arrivals and business activities in the country by making sure, among other things, that crucial infrastructure, such as international airports, are in place.
“The center of economic activity is now in Asia and we should seize this opportunity to move forward,” Antonio further stresses.
For his part, Antonio claims to doing his share in transforming Metro Manila into an international city through Century Properties’ development projects with international lifestyle and luxury brands.
Through such collaborations made with leaders in design, real estate, lifestyle and luxury, Antonio and his company are continuously attracting direct investments in the form of property purchases.
“We try to encourage investments in the Philippines through real estate. It affects 50 other industries and employs thousands of people. One property buyer alone influences the economy,” Antonio explains to forum guests.
The good news, according to Antonio, is that the Philippines is currently attracting both Filipinos overseas and foreign nationals in buying a property in the country. This group, he adds, consists of people who are familiar with the value and quality behind branded products and properties.
“We don’t partner with a brand just because it is popular. We get it for the value, quality and lifestyle that it stands for. We collaborate with brands that have had many years of experience in their respective industries, and we do so because it gives our buyers the values of pride of ownership and the assurance of quality,” Antonio explains.
“I hope what we’re doing in Century inspires you into making Metro Manila a better place. Deliver a good product, deliver good service. This will help Manila become an international city,” he concludes.
With 26 years of experience in the real estate industry, upscale developer Century Properties Inc. has shown how it can relentlessly go beyond firsts and imagination by introducing pioneering concepts and bringing home a number of globally renowned brands and affluent personalities with the likes of Donald Trump, Paris Hilton, Versace S.P.A., Acqua Iguazu yoo inspired by Starck and MissoniHome.
Incorporated in 1983, game changer Century Properties has undoubtedly enhanced the overall quality of life of Filipinos and foreign nationals by providing distinctive, high-quality and affordable properties. Guided by Antonio’s vision, who spearheaded the formation of Century Properties, the company is now one of the Philippines’ Top 5 real estate sales and development firms as measured by total sales value.
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