Century Properties Group Inc. in partnership with Asian Carmakers Corp. on Tuesday opened the P1.6-billion Asian Century Center in Bonifacio Global City, Taguig.
Century Properties chief operating officer Jose Marco Antonio said during the opening the 21-story green office building was 75-percent leased prior to its opening and was expected to be fully leased out before the end of the year.
Three of the four IT companies with confirmed leases are already holding office in the building, which has a net leasable area of 29,628 square meters.
Asian Carmakers of businessman Jose Alvarez plans to put up a showroom of Peugeot at the ground floor.
Antonio said the new office building was expected to generate P500 million in recurring revenues for the company based on the average lease rate of P1,200 per square meter.
It is also expected to generate 5,000 jobs.
Asian Century Center is accredited by the Philippine Economic Zone Authority and meets its strict requirements of 100-percent power backup, provision for high-speed internet and infrastructure, and a building management system.
The tower was pre-certified for the core and shell rating of the Leadership in Energy and Environmental Design, a globally recognized green building and sustainability certification system. Pre-certification is awarded to projects with achievable sustainable targets that demonstrate the project’s commitment to Leed certification. Asian Century Center is working towards an Leed silver status.
Real estate brokerage services firm Leechiu Property Consultants was appointed as the exclusive leasing manager for Asian Century Center.
Antonio said the company was constructing two more office buildings to further boost the company’s leasing portfolio. These are the 40-story Century Diamond Tower in Makati City and Century Spire, a mixed-use residential and office development also in Makati.
Century Properties said it was set to triple its leasable space to 300,000 sqm. by 2020 from 133,000 sqm as of 2017, once all its office, retail and hotel developments were completed.
Antonio said he expected recurring income to account for 30 percent to 40 percent of the group’s total revenues.