Century Properties to build P4.7-B residential complex

Following the success of the Gramercy Residences, Century Properties is building its second residential project within Century City, a P40-billion integrated township on Kalayaan Avenue, Makati.

In a statement, Century Properties said the new residential project, to be called The Knightsbridge Residences, will occupy 4,000 square meters of amenity space at a development cost of P4.7 billion.

Named after the most prestigious district in London, The Knightsbridge Residences is envisioned as a towering landmark in Makati with a curved structural design by award-winning architectural firm Asya Design Partners.

Units will be covered in floor-to-ceiling glass that will serve as glowing evening attractions called Lanterns, the company said.

Century Properties managing director Marco R. Antonio said The Knightsbridge Residences is targeting a wider spectrum of property buyers with its affordable average price of below P2.5  million, or as low as P12,000 a month for a 27-square meter studio unit.

“In the tradition of Century Properties, we are again bringing a fresh condominium concept to the market — one that we would like to call the smart and sexy choice — in our desire to further amplify the experience of urban living,” Antonio said.

Century Properties, the largest privately-owned real estate firm in the country, remains bullish on the property sector despite rising commodity and oil prices.

“The demand for housing remains huge. At present, the housing backlog is still at four million units. Demand at NCR alone is at 500,000 units,” Antonio said. “Now is actually the best time to invest in real estate because it protects the value of your savings. A real estate investment will always hedge against inflation.”

Founded by businessman Jose E.B. Antonio, Century Properties plans to convert the 3.4-hectare Century City on Kalayaan Ave. into a complete urban complex with residential towers, office buildings, and a lifestyle and entertainment center.

Since 1986, Century Properties has been developing, managing, and marketing the most exceptional residential, corporate and leisure developments in the Philippines such as The Pacific Star Building, the Riviera Golf and Country Club, the Asian Hospital Medical Suites and the award-winning Essensa East Forbes in Fort Bonifacio.

The company’s other projects include the South of Market at the Fort, the country’s first fully-fitted, fully furnished residential high-rise; Grand Soho Makati in Buendia Avenue, the only fully-fitted condo that offers residents three exceptional design choices; and Soho Central, the first transportation-oriented development with a direct link to the MRT station along EDSA.