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PHirst Park launches P1.9-B Pampanga development

CENTURY Properties Group, Inc., (CPG) has launched a new residential property in Pampanga, which offers 1,079 units valued at P1.9 billion.

In a statement on Wednesday, CPG said its affordable housing subsidiary PHirst Park Homes, Inc. recently did a “digital property launch” for PHirst Park Homes Magalang, a 10-hectare master planned development in Barangay Santo Rosario, Pampanga.

This expands the company’s presence north of Metro Manila following its 18-hectare PHirst Park Homes Pandi in Bulacan.

“PHirst Park Homes is culminating the year with the very positive reception on the much-anticipated launch of our Pampanga project. Aside from Calabarzon, we are eyeing projects in the key growth areas of Central Luzon where there continues to be strong demand,” PHirst Park Homes President Ricky M. Celis said in the statement.

The first phase of the Magalang project will include 556 house and lot units. It will offer four types of housing, namely the 40-square meter Calista End, the combinable 80-square meter Calista Pair, the 40-square meter Calista Mid and the 54-square meter single-attached Unna. Prices per unit start at P1.5 million.

Some of the amenities in the development are a clubhouse, swimming pool, kiddie pool, basketball court, and other play areas.

“We are on track with our development plans as more Filipinos recognize the value of home ownership as a primary essential and a way to provide a safe and secure place for their families,” Mr. Celis said.

As of end-October, PHirst Park has sold 6,916 house and lot units of the 9,940 from its P12.7-billion inventory. These came from sales in its developments in Cavite, Batangas, Laguna, Bulacan, and Nasugbu.

PHirst Park is a joint venture between CPG and Japan’s Mitsubishi Corp.

In the nine months through September, CPG’s attributable net income slid 2% to P1.03 billion due to a slowdown in real estate activity because of the coronavirus pandemic.

CPG shares at the stock exchange shed 0.5 centavo or 1.05% to 48 centavos each on Wednesday. — Denise A. Valdez

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Article and Photo originally posted by Business World last November 26, 2020, 12:05am.

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