Century upbeat on RP real estate

MANILA, Philippines - Amid the global economic slowdown, top Philippine developer Century Properties announced that it remains optimistic about the local real estate market and is turning over some 1,000 homes this year with its various subsidiaries.

The homes are a combination of condominium units and house and lot packages, in Century Properties’ projects Soho Central in Mandaluyong and Canyon Ranch in San Lazaro Leisure Park, Carmona.

The 23-year firm has also launched a new information campaign overseas to encourage more Filipino expats to invest in residential properties in the Philippines. The campaign launched award-winning actor and recording artist, Piolo Pascual, as Century’s new endorser.

Century’s 886-unit residential condominium Soho Central, a joint venture project with Greenfield Development Corp., has started an early turnover in June, or 6 to 18 months ahead of the scheduled delivery dates of its two towers. The building’s formal inaugural is scheduled in August.

Next year, Century is slated to deliver Grand Soho Makati, a 366-unit condominium in Salcedo Village, Makati with the United Coconut Planters Bank as joint venture partner.

Century enjoyed brisk sales in the first seven months of 2009, or 29 percent higher from the same period in 2008. The company expects to maintain higher sales volume from new and repeat buyers for the rest of the year. “We endeavor to keep our commitment of on schedule project delivery to our buyers even during these hard times,” said Century Properties chief operating officer John Victor R. Antonio.

Visit www.century-properties.com.