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CENTURY Properties Group Inc. (CPG) is accelerating its nationwide expansion through first-home subsidiary PHirst Park Homes Inc. (PHirst), which is poised to launch 10 new projects over the next two years.
PHirst will also be making its first venture into Mindanao in the third quarter of this year.
“The next five years will see continued growth and sustained launches from PHirst, highlighting our vision of becoming a leading enabler of first-time home buyers in the country,” Century Properties President and CEO Jose Marco Antonio said during the company’s annual stockholders’ meeting last Friday.
“As we look toward the future, we are energized by the strong growth prospects in the Philippine real estate sector,” he added.
PHirst President Ricky Celis confirmed the company’s rollout plans and said that “in 2025, PHirst is on track in opening six to eight new projects under the different brands of FIRST … which will include our maiden entry into Mindanao.”
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Celis said they would be focusing on seven out of the country’s 17 administrative regions, with emphasis on sites with high demand, infrastructure accessibility and affordability.
The planned launches will cover an aggregate area of 100 hectares and are expected to generate more than 10,000 units with an estimated P25 billion in sales value.
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Officials said that PHirst’s expansion would be backed by Century Properties’ “twin engine strategy” that balances affordable housing with the firm’s premium residential offerings.
Century Properties has earmarked P12 billion in capital expenditures for 2025, out of which about P10 billion has been earmarked for PHirst projects.
“The twin engine strategy enables Century Properties to drive sustainable growth by balancing its affordable housing and premium residential segments,” Antonio said.
“This dual-focus diversifies revenue, enhances resilience, and expands our reach across key growth corridors nationwide,” he added.
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PHirst’s growth was also said to be tied to broader macroeconomic tailwinds and public infrastructure initiatives that are expected to unlock real estate value in previously underserved areas.
“The various government infrastructure projects covering new roads, railways, and airports will certainly bring convenience, connectivity, and moreover, unlock huge real estate values [that were] previously inaccessible,” Celis said.
“We set our eyes to aggressively [multiplying] our presence in identified growth centers” across the country,” he added.
As of April, the company had completed approximately 15,000 homes and successfully turned over 10,000 units to first-time homeowners.
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Century Properties is also continuing to develop township-style estates such as PHirst Centrale Batulao in Batangas and PHirst Centrale Hermosa in Bataan.
These projects are designed with the “15-minute city” concept in mind, integrating residential, commercial, institutional, and retail elements within close proximity.
Century Properties’ net income grew by 32 percent to P2.4 billion in 2024 while total revenues rose 15 percent to P14.6 billion, driven largely by PHirst that accounted for 68 percent of the revenue.
Century Properties shares closed at P0.67 apiece on Friday, up by a centavo or 1.52 percent.
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