PHirst Park unveils 2 new residential projects

Century Properties Group Inc., through PHirst Park Homes Inc. (PPHI), will launch two new developments this quarter as part of plans to expand market reach.

"As reported during our 2022 stockholders meeting, we are full steam ahead in terms of expanding our market reach and growing our presence to [a] nationwide scale given the strong demand for housing," PPHI President Ricky Celis said.

PPHI will focus not only on Luzon but will also look for opportunities elsewhere, he added.

"As mentioned earlier, we have a plan to launch two more developments in Q3 (third quarter) of this year — one in Lipa, Batangas and another one in Laguna," Celis said during the company's annual stockholders' meeting last Friday.

"Moreover, we are also preparing for the unveiling of our very first project in the Visayas region, which will kick off the execution of our Visayas-Mindanao expansion strategy."

"Since the launch of our first smart homes brand in 2017, we have now opened a bottle of 16 communities across eight provinces spanning more than 290 hectares. So far, we've sold 74 percent of an aggregate 19,800 units, close to a value of about P24.6 billion at the end of 2022," Celis continued.

"We will continue to add more projects under our core product line, which [are housing units] worth P1.5 million to P3.5 million [each]."

Celis also discussed PPHI's 100-percent owned company, Century First Corp., which will be their brand for entering into new formats such as the socialized and economic housing segments, mid-income market space and mixed-use developments.

"We have already started developments in some of these new segments. PHirst Sights Bay Laguna is our pilot run into the P650,000 to P1.40 million price points," he explained.

"Next, PHirst Editions in Nasugbu, Batangas marks our entry into the P4 million to P8 million market space. Lastly, PHirst Centrale Hermosa in Bataan is a 36-hectare master plan to showcase the dwell, create and thrive concept of our township product line," Celis said.

"In combination, all of these maiden offerings come to a total of about 3,000 units initially, with a sales value of about P5.8 billion. Now the unifying and consolidating theme across all of these product lines is the PHirst brand."

With these offerings, PHirst will now be able to provide first-home buyers in the residential investment range of P650,000 to P8 million. "This spectrum is also what makes up the current 6.5 million Philippine housing backlog," Celis said.

Shares of PPHI parent Century Properties slipped half a centavo on Friday to close at 36 centavos apiece.