CENTURY PROPERTIES Group, Inc. (CPG) is looking to finish 2,101 condominium units by the first half of 2021 as it has ramped up construction work since lockdown measures were eased.
In a statement, the property developer said it is expecting the completion of 500 condominium units within the year, coming from two towers in its The Residences development in Commonwealth, Quezon City.
Some 1,600 units are also set for completion from February to April 2021, coming from CPG’s residential development in San Fernando, Pampanga.
“We are increasing (the pace of construction) progressively as we observe strict safety protocols in our project sites and manage completion timelines to deliver the units to our buyers,” CPG President and CEO Jose Marco R. Antonio said in the statement.
While the units are set to be completed earlier, the completion of other amenities will come in the succeeding months. The club house and wave pool of the Pampanga development are scheduled for completion in the third quarter of 2021.
Other developments have also been moving forward since construction work was re-allowed, such as in mixed-use development Century Spire located in Makati City.
CPG booked an attributable net income of P458.13 million in the first semester, down 36% from a year ago due to delays in construction work because of the coronavirus-related lockdown. Its consolidated revenues fell 25% to P4.52 billion. — Denise A. Valdez