Maniolas

MANILA, Philippines – High-end developer Century Properties Group Inc. has jumpstarted its bid to gain a foothold in key regions outside Metro Manila. In a disclosure to the stock exchange, Century Properties said it acquired close to eight hectares of property in the city of San Fernando in Pampanga. The strategic location of the property, which was acquired from the House of David Realty and Development Corp., makes it ideal for a mixed-use development with residential, commercial and institutional components, Century Properties said. “This will form part of a city or town center that the company envisions for the area, to position it as a future central business district in the north,” Century Properties said. “We are confident that, similar to how it has masterplanned its projects in Metro Manila, Century Properties will also build a world-class urban center in San Fernando, Pampanga,” said Ladislao David, chairman emeritus of the House of David Group. Century Properties said the Pampanga project will allow the real firm to book P6 billion in sales from the residential portfolio targeting end-users from the middle-income market segment. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The acquisition was backed by a portion of an equity placement offering, the company said. In March, Century Properties, controlled by the Antonio family, raised P1.64 billion by selling shares to foreign investors to support its landbank expansion in Metro Manila and secondary cities. Century Properties said its strategic expansion to the north is guided by the rapid progress Read More …