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Old Posted Oct 17, 2013, 11:12 PM
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In San Fernando, Pampanga Century Properties expands its wings in CL
By Roger M. Garcia

Upscale residential and business district developer, Century Properties Group Inc. expands its development portfolio in key regions outside of Metro Manila, and has chosen the competitive city of San Fernando, Pampanga to be one of the strategic sites for its future town center project.

In a statement, Century said the strategic location of the property makes it ideal for its planned mixed-use development with residential, commercial and institutional components.

The acquisition of close to 8 hectares of property— in the Capital City of Pampanga from the House of David Realty and Development Corporation to build the said mixed-use development—will form part of a city or town center that the company envisions for the area.

The prime property will be positioned by Century as a future Central Business District in the north.

The Pampanga development is currently being master planned, and the listed property firm estimates a sales value of Php 6 billion from the residential portfolio, which will target end users from the middle-income market segment. Funding from the property acquisition came from a portion of the proceeds of Century’s equity placement offering in March.

Located north of Metro Manila, within the San Fernando Interchange on Jose Abad Santos Avenue and the North Luzon Expressway (NLEX), and is situated across the SM and Robinsons malls in San Fernando City.

“Many have expressed interest in developing the House of David property because of its strategic location and vast business potential, but we believe that Century Properties is the right company to do this collaboration with as we share the same family and corporate values.” said Ladislao David, Chairman Emeritus of the House of David Group.

“We are pleased with the successful sale of the property to a real estate company with a proven track record of delivery and innovation,” David said.

“Likewise we are confident that, similar to how it has masterplanned its projects in Metro Manila, Century Properties will also build a world-class urban center in San Fernando Pampanga that our fellow Kapampangans and the rest of Central Luzon will be proud of, “David added.

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