LISTED Century Properties Group, Inc. (CPG) said it has sold 99% of its units in its P1.6-billion Barbados Tower, its third high-rise building within the Azure North Estate in San Fernando, Pampanga, highlighting market demand for family-friendly residential enclaves.
The 820-unit tower, CPG’s third high-rise in the residential resort estate, brings Azure North’s total inventory to 2,426 units, the company told the stock exchange on Monday.
The developer also sold all 49 units in its Azure North Townvillas, CPG’s premium house-and-lot project within the estate. The project offers three- to four-storey houses with lot areas ranging from 69 square meters (sq.m.) to 133 sq.m.
Azure North Townvillas is expected to generate about P1.3 billion in revenues, with construction to be finished by 2028.
Also within the estate is the P1.2-billion Mykonos Tower, which has about 300 units and is expected to be completed by the end of 2027.
The mid-rise residential tower features studio units ranging from 26.34 sq.m. to 28.15 sq.m., and one-bedroom units sized 44 sq.m., with unit sizes larger than CPG’s Metro Manila condominiums.
The residential resort estate also includes a man-made beach lagoon, wave pool, and exclusive clubhouse.
The developer added that it is investing P215 million in the Azure North Waterpark, which will be completed by 2028.
Guests can enjoy water slides, a basketball court, children’s playground, and a pet park.
The 7.8-hectare Azure North Estate has attracted investors, particularly Filipinos working abroad.
“Our focus extends beyond construction — we’re building the foundation for a lasting community where families can flourish,” CPG President and Chief Executive Officer Jose Marco R. Antonio said.
He noted that CPG’s strategy is to “build communities that offer family-friendly environments with recreational opportunities for kids while also providing opportunities to generate rental revenue.”
CPG posted a 17% increase in its nine-month net income, reaching P2.1 billion from P1.8 billion last year.
Shares of CPG last closed on Nov. 28 at P0.64 per share. — Beatriz Marie D. Cruz
