February 27, 2017

Century Properties targets first-time homebuyers

The real estate developer made the announcement about three months after partnering with Mitsubishi Corp. for a P2-billion horizontal residential development in Tanza, Cavite.

Century Properties will offer residential units for as low as P1.1 million (approximately P9,000 monthly amortization).

“This unbeatable value at this price point will make first home buyers proud to own and live in a Century home,” Marco R. Antonio, the group’s chief operating officer and managing director for the first home unit, said in the statement.

Century Properties is making more homes in the growing provinces of Cavite, Laguna, Batangas, Rizal and Quezon. The region hosts about 33% of overseas Filipino workers.

President and Chief Executive Officer Jose E.B. Antonio has discussed a plan to develop around 5,000 first-home units within a 44-hectare property near the National Capital Region.

“This new division of Century answers the dreams, needs and aspirations of first-time homebuyers through a complete housing package that go beyond the essential propositions of a good location, convenience and attainable price points,” Mr. Antonio said.

“Century’s first home unit democratizes home ownership and makes it available to a wider set of Filipinos who aspire for an enhanced quality of life. As this is their first experience to acquire a home, we will simplify the process and make each step convenient for them.”

The housing backlog in the Philippines has reached 5.56 million, according to Century Properties, citing data from the Housing and Urban Development Council.