Property developer Century Properties Group Inc. is expanding its horizontal housing business with the launch of its middle-income residential development in Nasugbu, Batangas.
CPG said in a statement the 14-hectare PHirst Editions Batulao would offer 629 house-and-lot units with a projected sales value of P3.1 billion.
CPG said PHirst Editions would be the brand catering to the mid-income segment in the horizontal housing sector, while PHirst Park Homes, with 12 projects to date, would remain an affordable housing brand.
“We created the PHirst brand to introduce new house packages at different price points to give buyers more options in owning their PHirst home,” PHirst president Ricky Celis said.
Celis said the PHirst Editions is company’s answer to the pandemic-fueled strong demand for low-density suburban homes.
PHirst Editions Batulao will offer single attached and single detached units with lot sizes ranging from 88 to 132 square meters. Units cost between P3.5 million and P7 million.
CPG said PHirst Editions Batulao would offer unique amenities, such as clubhouse and an amenity area that would offer hammocks, a bike trail, an outdoor cinema, a rope bridge and a pet park with WiFi coverage.
CPG president and chief executive Marco Antonio said the PHirst’s product diversification would allow it take part in providing quality property developments to a broad range of first-time homebuyers.
The company said that with the launch of PHirst Editions, its project portfolio would cover segments from socialized housing with units priced at P580,000, economic housing with units ranging from P800,000 to P1.7 million, affordable housing with units ranging from P1.7 million to P3.2 million and middle income priced from P3.2 million to P6 million.
CPG is engaged in the development of high-rise condominiums, retail development and office space. The company ventured into affordable house-and-lot development in 2017 to address the country’s massive housing backlog.
The share price of CPG rose 1.5 percent Thursday to close at P0.345.