Century taps Megawide for Cavite housing

MANILA, Philippines — Century Properties Group Inc. (CPG)'s PHirst Park Homes has already booked P1.2 billion in reservation sales for the first phase of its latest project in Tanza, Cavite.

In a disclosure, CPG  said the amount represents 91 percent of expected sales of the project’s first phase.

PHirst Park Homes, through Tanza Properties Inc., has awarded a contract to Megawide for the application of its precast concrete panel building systems for the 2,830 housing units.

The precast construction system is one of the expertise provided by Megawide, which also has its own precast plant. Precast is a process that  enables faster construction, easy standardization, cost-effectiveness, high-quality finish and enhanced facade design.

“We are extremely proud of our precast technology. This memorandum of agreement with PHirst Park Homes is our seal of assurance to buyers in terms of quality and timely delivery,” said Megawide president Edgar Saavedra.

PHirst Park Homes Tanza is a 26-hectare horizontal community accessible via Governor’s Drive.

CPG launched the project in the second quarter of 2017 and has commenced with land development for its first phase, which will have 950 units.  The company is targeting to turn over the units in the third quarter.

PHirst Park Homes attributed the strong sales take-up to the demand for quality housing in the price range of P1 million to P3 million.

CPG said buyers from the CALABARZON area (Cavite, Laguna, Batangas, and Quezon) accounted for 60 percent of total sales,  followed by Filipinos working overseas.

Monthly amortization starts at P9,000 for a 40-square-meter home, which has a perimeter fence and gate, finished ceiling, flooring and bathrooms.

The listed property developer, more known as an upscale developer, has identified the first homebuyer market as one of the two allied real estate segments for its business expansion, with the other being leisure and tourism.