CENTURY Properties Group, Inc. (CPG) has pre-sold 342 vacation homes worth P2 billion in its residential tourism estate in Nasugbu, Batangas, more than nine months after it was unveiled to the market.
In a statement issued Friday, CPG said its leisure, tourism, and hospitality unit Century Properties Leisure and Hospitality, Inc. (CPLHI) has pre-sold 342 vacation homes in Batulao Artscapes. The 142-hectare estate seeks to capture local end-users looking for a weekend retreat, as well as families and retirees in search of secondary homes near Metro Manila.
Dubbed as an “artventure community,” the entire property will feature houses designed by Filipino and international designers such as Ed Calma, Kenneth Cobonpue, Budji Layug, and Royal Pineda, Daphne Guiness, and Studio Libeskind Design.
“We are excited to bring something that combines art, nature and adventure into this beautiful out-of-town property. We are optimistic of the market’s continuous positive response to the project given the expanding middle class and surge of domestic tourism in the Philippines,” CPLHI President Tim Hallett said in a statement.
The first 36 hectares of the project will offer around 2,000 homes. Mr. Hallett earlier said that they will also be launching the second phase of the project consisting of 1,700 homes, which is expected to bring in P13 billion in pre-sales for the company.
Batulao Artscapes will house amenities such as a man-made beach with a clubhouse and a lake with a wedding chapel. The company also expects to lure in tourists in the property through a sports park, a “flavor” park, and an art park with museums designed by Pritzker Prize-winning architects.
Property technology firm Revolution Precrafted will be supplying the homes for the estate.
CPG targets to deliver the first batch of homes in early 2019, with the entire project to be completed by 2021.
The Antonio-led property developer noted that it would take a 1.5 to two-hour drive to Batulao Artscapes from Makati City via four access points: Daang Hari Road towards the Nasugbu-Kaybiang Tunnel, the Star Tollway to Tanauan Exit, the South Luzon Expressway (SLEX), and Cavite Expressway (CAVITEX).
The company also said that the property will be less than an hour away from Tagaytay once the Cavite-Tagaytay-Batangas Expressway is completed by 2022.
CPG booked a net income of P490 million in the first six months of 2018, benefiting from a 40% increase in revenues to P4.7 billion during the period.
Shares in CPG gained 1.15% or 0.5 centavos to close at 44 centavos each at the Philippine Stock Exchange on Friday. — Arra B. Francia