Phirst Park Homes, the affordable housing brand of Century Properties Group Inc., has pre-sold over 3,000 housing units from its first three projects with a sales value of P4.4 billion.
CPG said in a statement it had pre-sold 95 percent of the over 3,400 units launched in the three projects to date.
“The strong pre-sales of CPG’s affordable housing segment are expected to translate to a sustained higher contribution to the company’s bottom line as more housing units are scheduled to be completed in the next quarters,” said CPG’s chief finance officer Ponciano Carreon.
Contributing to the strong sales are CPG’s affordable housing projects under the Phirst Park Homes brand in Tanza, Cavite; Lipa, Batangas; and the most recently launched 18.5-hectare development in San Pablo, Laguna.
The Tanza project, a 26-hectare horizontal community, has pre-sold 94 percent of the launched units valued at P2.6 billion. The 20-hectare Lipa project, meanwhile, has pre-sold 98 percent of the launched units, or P1.4 billion.
Phirst has pre-sold 91 percent of its units launches or P597 million in the San Pablo property after unveiling it in March.
“The success of Phirst Park Homes is proof positive of the demand for quality homes with the best value and competitive pricing. Developers have barely scratched the surface in addressing the country’s housing backlog, and Phirst is doing its share by focusing on the huge demand in the Calabarzon and Central Luzon regions,” said Phirst Park president Ricky Celis.
After Tanza, Lipa and San Pablo, CPG is set to launch more communities in north and south Luzon, which the company has identified as growth areas with a high concentration of families dependent on overseas workers’ remittance, unmet demand for housing and where infrastructure projects are in place.
CPG in April raised P3 billion in fresh funds which it will use to partially finance the development costs of affordable housing and townhome projects.
