Century Properties Group bullish after Trump win

MANILA, Philippines – US President-elect Donald Trump’s business partner in the Philippines, Century Properties Group, is optimistic on growth prospects of its business including Trump Tower in Manila.

The company’s founder, chairman and CEO Jose E.B. Antonio is the country’s Special Envoy to the US, appointed by President Duterte last month.

“Century Properties Group congratulates the president-elect, Donald J. Trump, for his historic win as the 45th President of the United States of America. We wish him, his family and the American people the very best,” said Kristina Garcia, CPG’s director for Investor Relations.

The company, she said, sees the significant movement in its stock price as a natural reaction of the domestic market on the outcome of the US elections.

On Wednesday last week after the US elections, CPG’s share price surged 20 percent to 72 centavos from 60 centavos.

“We view this as a positive development to the company given the upcoming completion and turnover of Trump Tower Philippines in Makati, which, since its launch in 2011, has realized an average price increase of over 10 percent per annum,” she said.

CPG strives to undertake and develop projects that provide value and returns to its stakeholders, both at the project level, and at the capital markets level, she added.

The company through subsidiary Century City Development Corp. is the developer of Trump Tower Philippines with the brand name and mark under license from the Trump Organization.

CPGI launched the Trump Tower in 2012. It has over 250 units for residential use and an expected sales value of P6 billion, making it one of the most expensive and luxurious real estate projects in the country.

Unit sizes range from 60 square meters for the Suite and 400 sqm for the Penthouse, with high-end amenities such as a grand lobby, fine dining restaurant, library, and business center.

It is scheduled to be completed in April 2017.

It is under the The Trump ® brand, which now encompasses projects across the US, Panama, Canada and Turkey. Its projects include residential, hotel, office, retail and golf properties.

Trump buildings are known for “their spectacular views, prime locations, luxurious amenities and discerning owners. The existing clientele of Trump includes global CEOs and celebrities,” CPG said.