PHIRST Park Homes, Inc. (PPHI), the first-home brand of Century Properties Group, Inc. (CPG), said it has earmarked P8.39 billion to deliver 13,150 additional housing units nationwide by end-2025.
In a disclosure to the stock exchange on Thursday, the company said it has tapped its in-house construction arm, PHirst Build, and Saavedra-led Megawide Construction Corp. for the projects.
PHirst Build will construct 6,326 units across Luzon projects, including PHirst Park Homes Sto. Tomas and PHirst Park Homes Magalang East.
Megawide, for its part, will build 5,824 precast units in Cavite, Laguna, and Batangas.
About 1,000 more houses are under the contract awarding stage and scheduled for construction this year, the company said.
PPHI said it awarded 29,306 housing units to contractors in 2024 alone, bringing its total housing portfolio to 42,456 units since its establishment in 2017.
The developer has completed 15,000 housing units in the first half, of which 10,000 have been turned over to buyers. The number of units turned over is expected to reach 14,000 by yearend.
“Our initiatives, through innovative construction methods and strategic partnerships with contractors and suppliers, represent a strong continuation of our mission to provide affordable housing solutions,” PHirst Vice-President for Technical Operations Division Roy C. Lachica said.
“These also help us to continue our expansion into more locations nationwide as the company responds to the country’s growing demand for housing,” he added.
PHirst currently has 31 active projects located in Cavite, Laguna, Batangas, Quezon Province, Bulacan, Pampanga, Bataan, Nueva Ecija, and Bacolod City.
“Through innovative construction methods and strong partnerships, PHirst strives to make homeownership accessible for all Filipinos while actively contributing to community development,” the company said.
CPG reported a 14% growth in first-half net income to P1.22 billion, supported by its affordable housing segment.
At the local bourse on Thursday, CPG shares closed flat at 65 centavos apiece. — Beatriz Marie D. Cruz
