Century Properties Group (CPG) said Monday it will launch two new residential projects in the first half of 2024 amid the continued rebound in the property market.
CPG said in a stock exchange filing it would unveil its latest residential development within Acqua Private Residences in Mandaluyong City to be called The Hotel Residences at Acqua.
The project offers move-in ready, hotel-fitted and fully-furnished suites and is expected to complete the residential development within the property.
The Hotel Residences at Acqua is located at the top of the newly opened 152-room Novetel Suites Manila at Acqua. Acqua Private Residences is a 2.4-hectare development with six high-rise developments.
CPG said it would also launch its first mid-rise residential development at Azure North in San Fernando, Pampanga in the first half of 2024.
The project, which will have 375 residential units, is conveniently located near major malls, commercial establishments and the Clark International Airport.
Drawing inspiration from the renowned Azure brand, the 12-story development will also have a sprawling multi-feature water park amenities.
Azure North, a resort-oriented development, will soon have an urban man-made beach, boasting a white sand beach lagoon, a wave and lap pools and an exclusive Azure Beach Clubhouse.
CPG earlier said it is optimistic that 2024 would be a better year because of the continued improvements across its business segments.
CPG announced in December plans to raise up to P5 billion from the issuance of preferred shares.
It plans to use the proceeds from the fund raising to finance the redemption of three-year bonds issued in March 2021 and fund existing property projects.
CPG engaged China Bank Capital as the sole underwriter for the transaction.
