Century Properties Group Inc. is venturing into the affordable segment of the market with the development of a mid-rise community project in Quezon City.
In a statement, Century Properties said it expects to book sales of P10 billion from the eight-tower project called The Residences at Commonwealth by Century.
Located along Commonwealth Avenue right beside Don Antonio Heights, the project seeks to capture local and overseas buyers, especially young professionals and start-up families that consider P1.5 to P3 million within their budget range for a home.
At a construction cost of P4.1 billion, Commonwealth by Century will offer 2,300 units comprising suites and one-bedroom configurations that range from 21 to 49 square meters with an average price of P80,000 per square meter.
Larger-cut two-bedroom units of 64 to 72 square meters and worth P5 million and up are also available.
Known for upscale products such as The Trump Tower and Milano Residences, Century Properties is tapping the affordable market segment to put forward products in various markets and price points.
“According to recent reports by property analysts, there remains a huge demand for housing in the Philippines. By entering the affordable price category we would like to tell home buyers that there is a Century home for each budget and preference for location within Metro Manila,” said Marco Antonio, managing director and co-chief operating officer of Century Properties.
Designed by the award-winning firm Broadway Malyan along with Century’s in-house architecture team, the new project's eight residential towers are named after the prominent personalities of the Commonwealth period.
Osmeña West, the first building, will have 11 floors with 200 units and will be delivered in 2015. Succeeding buildings such as the Quezon, Roxas, Osmeña and Quirino towers will rise to as high as 22 storeys.
Reservation fee for a unit is P15,000 with monthly amortization offered for as low as P8,000. The units will be delivered with standard basic finishing, flooring, kitchen and bathroom inclusions.
The community development is within the vicinity of a shopping center, schools, techno hubs, churches and major thoroughfares. It has access to transportation like shuttles, buses, jeepneys and a future light railway.
“We believe that Quezon City is ready to receive a new breed of residents who will truly appreciate the great value of the Commonwealth by Century home. The location is very accessible, being situated in one of the few cities in the metropolis that is less congested. Furthermore, the lifestyle experience will be exceptional because of the modern amenities, making it an ideal place to start a business, raise a family, or enjoy your retirement,” Antonio said.
The Commonwealth by Century residential package includes livable unit layouts with extended balconies, distinctive amenities that encourage outdoor social interaction, a master-planned community with open spaces, greenery and waterscapes; and round the clock safety and security systems.
Source: Interaksyon | July 29, 2012