September 12, 2018 at 07:20 pm
Jenniffer B. Austria
Century Properties Group Inc. is scheduled to complete two office buildings and two hotel towers over the next three years in line with a target to reach P1.5 billion in leasing revenues by 2020.
Century Properties chief operating officer and managing director Marco Antonio said in an interview Wednesday the company was slated to open Asian Century Center, an office tower project in Bonifacio Global City with joint-venture partner Asian Carmakers.
By next year, the property developer will complete the 35-story Century Diamond Tower in Makati City in partnership with Japan’s Mitsubishi Corp.
The office project, formerly called Forbes Media Tower, was recently renamed Century Diamond Tower along with the company’s thrust to strengthen the Century brand name.
Asian Century Center will have 25,000 square meters of office space while Century Diamond Tower will offer 58,618 sqm of leasable space.
Century Properties is also set to complete next year Novotel Suites Manila, a 150-room condotel project in Mandaluyong.
The company in 2020 is also scheduled to open Century Spire, a mixed-use residential and office development in Makati.
Antonio said Century Properties will have a total of 300,000 sqm of leasable space with the completion of four projects from 134,00 sqm. as of end 2017.
“So we are going to have office, hotel and retail feeding our retail portfolio,” Antonio said.
Century Properties has been diversifying its portfolio from being concentrated in high-rise condominium projects to other segments, such as affordable horizontal housing, leisure and tourism developments and for-lease properties to expand its portfolio into a solid, four-platform business.
Meanwhile, Century Properties on Wednesday appointed real estate brokerage services firm Leechiu Property Consultants as the exclusive agent to market the leasable spaces of Century Diamond Tower.
Century Diamond Tower, an office building accredited by the Philippine Economic Zone Authority, is expected to attract companies engaged in the business process outsourcing and knowledge process outsourcing as well as multinational companies.