CENTURY Properties Group, Inc. (CPG) is developing a 20-hectare project in Lipa, Batangas, under its affordable housing brand PHirst Park Homes.
In a statement, CPG said project, located in Barangay San Lucas, Lipa City, will offer 1,867 units with an estimated value of P2.8 billion.
“PHirst Park Homes raised the bar in the category of affordable home ownership by offering more value at very attainable price points. This is what we will make available in Lipa, where we are bringing our Tanza concept but with enhanced offerings,” PHirst Park Homes President Ricky Celis was quoted as saying in a statement.
The development is located is behind the 470-hectare industrial park Lima Technology Center and a 30-minute drive from the Light Industry and Science Park III.
PHirst said the development will showcase a “home-in-a-park experience,” with amenities catering to health and fitness. Homes will have a perimeter fence and gate, finished ceiling, flooring and bathrooms, a garden or carport provision and an expandable unit layout.
There are four types of home configurations available. A 40-square meter home will start at P1.2 million with a P9,000 monthly amortization.
PHirst Park Homes is a partnership between CPG and Japanese conglomerate Mitsubishi Corp. It sold 1,200 units worth P1.4 billion at its first project, located in Tanza, Cavite.
In 2017, CPG saw its profit drop by 11% to P649.9 million.
The listed firm known for its development of high-rise luxury projects ventured into the affordable housing market last year, as it aimed to meet the housing backlog in the country amid a growing middle class. — D.A. Valdez