Century Properties says reservation sales hit P24.6-B in 2013

Posted at 01/28/14 12:23 PM

MANILA, Philippines - Century Properties reported P24.6 billion in reservation sales in 2013, 15% higher than the previous year.

The listed property firm said this was the highest level of reservation sales it ever reported in its 27-year history.

Century Properties said the reservation sales were from Century City, Azure Urban Resort Residences, Acqua Private Residences, and Commonwealth by Century locations.

Century chairman and chief executive officer Jose E.B. Antonio attributed the continued sales growth to the expansion of the real estate industry and strong remittances from overseas Filipino workers.

"Given the strength of OFW remittances, even during the global financial crisis, we purposely differentiated our marketing strategy to cater to the needs OFWs and foreigners. Over the years, we have created a strong international sales and marketing team, which have enabled us to access the underserved overseas market," said Antonio.

Century has over 60 international sales offices and affiliates in 4 continents.

Century said it is planning to launch at least P17 billion worth of new projects, including the recently launched Century Spire interior designed by Armani Casa, this year.

Also this year, the company expects to complete two buildings with over 1,000 units, the Century City Mall in Kalayaan Avenue and an urban beach club designed by Paris Hilton at the Azure Urban Resort Residences in Paranaque City.

As of end September 30, 2013, Century posted net income of P1.6 billion, 12% higher than a year ago.