Century Properties, Inc.

Century Properties, Inc.
Website
http://www.century-properties.com
References
[1][2][3][4][5]

Century Properties, Inc. (CPI) is a real estate company in the Philippines focusing on high-rise and mid-rise residential condominiums and mixed-use developments. It was established by Mr. Jose E. B. Antonio in 1986, just six days prior to the EDSA People Power Revolution.

From an original core staff of 6 people, CPI now employs over 3,000 individuals, with marketing representatives in five countries and six international offices. The Company is able to offer a full range of real estate services, including property development, property management, and sales and marketing. CPI has more than 60 vertical buildings under development and management through its subsidiaries and affiliates namely: Century Communities Corporation (CCC), Century Properties Management, Inc. (CPMI), Century City Development Corporation (CCDC), and Century Limitless Corporation (CLC).

History

The Company was incorporated on September 6, 1983. In 1986 with six employees, it launched its operations, focusing primarily on providing third-party marketing and sales for real estate developers.

Vertical/High-rise Developments

Leveraging on the experience it gathered in real estate sales and marketing, the founders saw a solid opportunity in establishing a separate property development arm, Meridien, which focused on mid-market, central business district high-rise developments. Meridien began the development and construction of its first project, Le Grand in Makati to cater to the middle market segment.

Meridien developed at a rate of one to two buildings per year, all located in the central business districts of Makati and Ortigas. During this time, Century became known to the public as a developer of high rise condominiums in the central business districts of the Philippines.

Century Properties Management, Inc. (CPMI)

In March 17, 1989, the founder established CPM to handle the Group’s property management services for both Century and non-Century developments. Since its founding, CPMI has handled 43 buildings, including landmarks such as the Asian Development Bank, Philippine National Bank Headquarters, BPI Buendia Center and Pacific Star Building.

Separately, the companies continued their operations throughout the 1990s. CPI focused on generating sales for the Century-developed properties, while keeping its third-party marketing services to other real estate companies.

Essensa East Forbes

In 1997, through Meridien, CPI was given the opportunity to purchase a property in Fort Bonifacio. At this time, the Company saw that there was a need for high-class luxury condominiums in Metro Manila, and decided to develop what is known today as one of the best residential buildings in the country.

Essensa condominium, a hallmark development of the Company, has a reputation for being one of the best condominium projects in the country.^{[citation needed]} Designed by architectural firm Pei Cobb and Freed, led by Pulitzer Prize winning architect I.M. Pei, the architect of the Louvre in Paris, and the Bank of China in Hong Kong, Essensa utilized the finest materials in its design such as Travertine stone quarried from the same source as the Colosseum in Rome.

The units in Essensa have an average unit size of 290 square meters, with prices ranging from PhP35 million to PhP60 million.

Horizontal/Housing Development

The Company further expanded its property development business when it embarked on its first large-scale horizontal development: Canyon Ranch. Located in Carmona, Cavite, this 16-hectare gated community is situated in the hilly portion of the San Lazaro Leisure Park owned by the Manila Jockey Club, Inc.

In order to specifically manage the development of this project, the proprietors of Century decided to incorporate CCC in March 15, 1994. Canyon Ranch, launched in 2004, officially marked CCC’s entry into mid-market horizontal developments, catering to modern families who prefer the quiet suburban life.

Century City

In 2006, the Company bought a portion of the lot formerly occupied by the International School of Manila. Using its experience in developing buildings and infrastructure, the Company incorporated CCDC on December 19, 2006 to expand Century’s business into large-scale mixed-use developments. Presently, the said area located in Kalayaan Avenue, Makati City is the venue for CCDC’s current residential projects: The Gramercy Residences, currently the Philippines’ tallest building, and The Knightsbridge Residences. It will also house a hospital, a retail center, and an IT park.

Century Limitless Corporation

Responding to the high demand for affordable housing, Century further expanded its product line with the creation of a separate company especially focused on this segment. On July 9, 2008, CLC was incorporated with the sole purpose of developing vertical projects for the affordable to middle-income housing segment. In 2009, CLC launched its first project, Azure Urban Resort Residences, providing condo living for young couples and families, Filipino expatriates, and end-users wanting to live in Parañaque City.

Subsidiaries and Affiliates

The subsidiaries and affiliates of the Company are segregated by the target market of each project, allowing each to specialize and focus on their buyers’ requirements in pricing, size, location, and amenities. Below is a description of the subsidiaries and affiliate of the Company:

Meridien Group of Companies

Meridien is focused on single-lot developments, particularly high-rise condominiums in the central business districts. Its past record includes the Le Grand, Le Triomphe, Le Metropole, Oxford Suites, Bel Air Soho in Makati, and Medical Plazas in Makati and Ortigas, and Essensa and South of Market in Fort Bonifacio.

Century Properties Management Incorporated

Incorporated March 17, 1989

CPMI is the largest property management company in the Philippines. It is the first independent company to make use of international standards in the Philippine market. CPMI has been awarded 18 safety and security distinctions from the Safety Organization of the Philippines. It currently has 43 buildings in its management portfolio, covering a total gross floor area of about 1.9 million square meters.

Century Communities Corporation

Incorporated March 15, 1994

CCC is focused on horizontal house and lot developments.

Century City Development Corporation

Incorporated December 19, 2006

CCDC is focused on mixed-use developments. Founded in 2006, it is created to develop areas that incorporate the Live, Work and Play concept. More than providing properties that center only on residential areas, CCDC, through its first project called Century City, a 3.4 hectare mixed use development in Kalayaan Avenue, Makati, develops communities where residential, corporate and leisure activities happen in one place.

Century Limitless Corporation

Incorporated July 9, 2008

CLC is the newest brand category of Century Properties Group that will develop affordable residential projects.

APG Investment

In January, APG, one of the largest global pension asset managers based in the Netherlands, announced its investment of P2.25 billion in Century. This investment reflects APG’s confidence in the Philippine economy over the long term, and its trust in the management, track record and vision of Century Properties.

References

1. ^ The Global Pensions News APG invests $50m in Century Properties
2. ^ Wall Street Journal website Philippines Property Market Heats Up
3. ^ The Asian Journal website The State of Philippine Real Estate: It’s Heating Up
4. ^ GMA News TV GE, Century Properties to build RP medical-IT center
5. ^ The Philippine Star Century Properties partners with Versace

External links

• Century Properties
• Century City
• Century Properties Management Inc.