Century Properties Group, Inc. (CPG) gained a positive outlook this 2019 as it finished over 2,800 condominium units, 2,853 to be exact. The company expects more units to be completed in the coming year and it will contribute big time to its revenues. No surprise CPG is gaining more and more public investors as time goes by. For those who are still looking for a company where you can invest, you might want to consider real estate and CPG stocks. Here are the other details about this significant news.
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Let’s get more detailed about the success of CPG this year. According to the company, the 9th and last tower located at the Azure Urban Resort Residences in Paranaque City were completed last month. This project has a sales value of P26.2 billion, having 5,350 units. Another completed project of CPG is the Roxas West Tower at The Residences at Commonwealth situated in Quezon City. This tower has 500 units. Meanwhile, its Quirino West and East Towers are scheduled to be completed by the end of 2019. These towers have a total of 1,015 units. There are also Acqua Iguazu Yoo with 492 units and Novotel Suites Manila completed this 2019 which will open next year. The Acqua Private Residences project in Mandaluyong was built with 3,168 units and a P18.4 billion sales value.
CPG has also house and lot units and commercial leasing, aside from its condominiums. Its PHirst Park Homes brand has just added 821 house and lot units. PHirst Park is a joint venture of CPG and Mitsubishi Corporation. The number of units is as of the end of November. When it comes to its commercial leasing business, CPG opened its Asian Century Center in Bonifacio Global City this 2019. This has a gross floor area of 56,284 square meters.
CPG is eyeing to increase its commercial spaces to 300,000 square meters. This will help the company earn P2 billion in revenues next year. The company believes that the record high completions and launches in line with its business expansion in 2019 are an indication that the company holds on to its commitment to boost the growth trajectory of the firm over time and increase the value of its shareholders. Over the next three years, CPG is willing to spend about P30 billion on capital expenditures to finance its existing projects and expansion plans.