PHirst Park Homes—the affordable housing brand of Century Properties Group Inc. (PSE: CPG)—has successfully pre-sold more than 3,000 housing units from its first three projects with a sales value of PhP4.4 billion as of April 30, 2019.
Contributing to the strong uptake are CPG’s affordable housing projects under the PHirst Park Homes brand located in Tanza, Cavite; Lipa, Batangas; and its most recently launched 18.5-hectare development in San Pablo, Laguna.
“The strong pre-sales of CPG’s affordable housing segment are expected to translate to sustained higher contribution to the company’s bottom line as more housing units are scheduled to be completed in the next quarters,” said Ponciano S. Carreon, CPG Chief Financial Officer.
CPG’s first project for affordable housing was PHirst Park Homes Tanza, a partnership with the global business enterprise Mitsubishi Corp. that was launched in May 2017. Its success led the two firms to form a joint-venture company in 2018 to undertake a total of 15 masterplanned communities under the name PHirst Park Homes Inc. (PPHI). The first two projects assigned under PPHI are PHirst Park Homes Lipa and PHirst Park Homes San Pablo.
Of the more than 3,400 launched units in the three projects, 95% has been pre-sold to date. The Tanza project, a 26-hectare horizontal community with nearly 2,900 homes and a total sales value of PhP4.6 billion has pre-sold 94% of launched units or PhP2.6 billion. The 20-hectare Lipa project has pre-sold 98% of launched units or PhP1.4 billion of close to 1,900 units valued at PhP2.8 billion. The San Pablo property was officially unveiled only last March 2019. Its Phase 1 has pre-sold 91% of launched units or PhP597 million of 1,640 units with a total sales value of PhP2.7 billion.
Ricky Celis, president of PHirst Park Homes, adds, “The success of PHirst Park Homes is positive proof of the demand for quality homes with the best value and competitive pricing. Developers have barely scratched the surface in addressing the country’s housing backlog, and PHirst is doing its share by focusing on the huge demand in the Calabarzon and Central Luzon regions.”
The PHirst Park Homes projects bear the signature 4Cs: Complete and well-provisioned homes with a perimeter fence and gate, Conceptive amenities including an outdoor cinema, Connected living through WiFi zones and shuttle services, and a Convenient and simplified selling and buying experience.
After Tanza, Lipa and San Pablo, CPG is set to launch more communities in north and south Luzon, which the company has identified as growth areas with a high concentration of OFW families, unmet demand for housing, and where infrastructure projects are in place.