Century Properties bets on provincial demand 

A major Philippine real estate developer is shifting its growth strategy toward provincial markets as Metro Manila continues to experience an oversupply in middle-income condominium units.

Century Properties Group Inc. (CPG), led by President and CEO Jose Marco R. Antonio, announced during its annual stockholders’ meeting that it will allocate P12 billion in capital expenditures this year, with the majority going to projects outside the capital.

Of the total budget, P10 billion is set aside for mass housing initiatives under PHirst Park Homes Inc., the company’s unit focused on affordable housing. The remaining P2 billion will go to upscale developments under the firm’s premium segment.

“This dual focus diversifies revenue, enhances resilience, and expands our reach across key growth corridors nationwide,” Antonio said, referring to the company’s twin-engine growth strategy. This approach allows CPG to maintain a balance between affordable housing and higher-end residential developments.

The company said its pivot to regional growth is supported by sustained demand in underserved provincial markets, especially among first-time homebuyers. These areas are increasingly benefiting from government infrastructure projects that boost accessibility and economic potential.

“PHirst continues to benefit from an under-supplied market with a sustained demand from first-time homebuyers,” Antonio said. “We are committed to making homeownership more accessible in emerging provinces and regional hubs.”

Antonio noted that ongoing government investments in transportation, disaster resilience, and regional connectivity are creating favorable conditions for real estate growth outside Metro Manila. These improvements, he said, will drive demand across both the affordable and premium housing segments.

CPG’s strong performance in 2024, buoyed by favorable macroeconomic indicators and robust consumer demand, has laid a solid foundation for long-term expansion, he added.

The developer’s shift aligns with broader trends in the industry, as more companies look beyond the saturated Metro Manila condo market to capitalize on growth opportunities in fast-developing provincial cities and towns.