Pension fund invests P2.25 billion in Century Properties

MANILA, Philippines - APG, one of the world’s largest pension asset managers, is investing P2.25 billion in Century Properties Inc., a leading non-listed real estate development company.

Based in the Netherlands, APG had euro 266 billion of assets under management as of end-September last year. The company manages over 30 percent of all collective pensions in the Netherlands, providing income for more than 4.4 million investors.

Ambassador Jose E. B. Antonio, chairman and chief executive officer of Century Properties, said: “The investment by APG in Century augurs well as it is a sign of APG’s confidence in the Philippine economy over the long term, and APG’s trust in the management, track record and vision of Century.”

“Today, Century Properties is marking a milestone through our partnership with APG. We have built reputable developments that have catered to our discerning clientele over the past 24 years. Now, as we mark our 25th year of operations, the confidence of one of the world’s leading institutional investors strengthens the prospects for Century and its various stakeholders,” Antonio said.

Antonio said APG’s investment will allow Century to capitalize on the current high growth and low inflation environment of the Philippines. The expansion shall also allow Century to further expand its business plan of catering to the premium segment of multiple markets, through its delivery of innovative and quality developments.”

For his part, APG’s Patrick Kanters, managing director of Global Real Estate, said: “As a long term strategic investor APG has identified the real estate market in the Philippines as highly attractive. We focus on building exposure to quality companies with a clear strategy, a strong and reliable management and a well established track record. Our investment in Century Properties fits well in our carefully selected portfolio of Philippine Real Estate companies. We are confident that through our investment we contribute to the Century Properties team realizing their growth strategy.”

Century Properties, which has an established market presence in five key regions overseas, is the developer of the upscale Essensa East Forbes in Bonifacio Global City, Grand Soho Makati, Canyon Ranch, The Casitas and The Moderno in San Lazaro Leisure Park, Carmona; and SOHO Central in the Greenfield district of Mandaluyong.

Incorporated on Sept. 6, 1983, Century Properties offers a full-range of services, managing 43 buildings consisting of 1.9 million square meters.

Among the company’s current projects include Century City in Kalayaan Avenue, Makati with four ongoing projects: the Gramercy Residences, The Knightsbridge Residences, The Milano Residences and the Centuria Medical Tower; Azure Urban Resort Residences, a six-hectare development in Parañaque City and Canyon Ranch in San Lazaro Leisure Park, Carmona.