Publicly listed firm Century Properties Group, Inc. (CPG:PM) has started the phased turnover and move-in this month for 1,200 units valued at P4.5 billion in its projects at The Residences at Commonwealth in Quezon City and Acqua Private Residences in Mandaluyong City.
Despite the challenges brought by the pandemic to construction operations, Century Properties pushed for the earliest possible move-in for the first half of 1,015 units at the Commonwealth Quirino East and West Towers. These are the sixth and seventh buildings, respectively, in the 4.4-hectare master-planned development. Commonwealth’s first five towers and amenities are complete.
Turnover of 185 more residential units at the Acqua Private Residences Tower 6 also started last November. Century Properties has completed the whole Acqua 6 tower, which has 185 residential units and hotel floors for a future 310-room hotel operation. The hotel component of 310 units is temporarily closed and the hotel opening has been deferred due to the pandemic for the safety of staff and guests, and to protect stakeholder interest.
In the second quarter of 2021, Century Properties is targeting the completion of 1,600 more units in batches from February to April next year. This will be in the Bali and Monaco towers at the Residences at Azure North in San Fernando, Pampanga. Key amenities, including the wave pool, are expected to be completed in the second half of 2021.
Early this month, Century Properties posted a P1.1 billion net income for the first nine months of 2020, maintaining strong earnings while sustaining the growth of its affordable housing (under PHirst Park Homes) and leasing segments. It also launched the first 500 units of its 10-hectare development PHirst Park Homes Magalang, Pampanga, its seventh affordable housing community.
