Business

Century Properties taps Leechiu to market P4.5-billion new office building

Iris Gonzales - The Philippine Star

September 13, 2018 | 12:00am

Century Properties taps Leechiu to market P4.5-billion new office building

Century Properties Group, through Century City Development II Corp., has signed an exclusive leasing agency agreement with Leechiu Property Consultants to market the leasable spaces of the PEZA-accredited and LEED compliant Century Diamond Tower at Century City, Makati. Present at the signing were (from left) Masahiro Nagaoka, deputy general manager of Mitsubishi Corp.; Marco Antonio, chief operating officer of Century Properties Group; Rafael Yaptinchay, co-managing director of Century Properties Group; David Leechiu, chief executive officer of Leechiu Property Consultants; Phillip Anonuevo, executive director of Leechiu for commercial leasing; and Ponce Carreon, chief financial officer of Century Properties Group. Century Diamond Tower is being developed by CCDCII, a company co-owned by CPG subsidiary Century City Development Corp. and the global business enterprise Mitsubishi Corp. It is slated for completion in 2019.

MANILA, Philippines — Century Properties Group Inc. (CPG) is adding a new office building in its portfolio, the P4.5-billion Century Diamond Tower.

Located in Century City in Makati, the 35-story tower is targeted for completion next year.

CPG, through Century City Development II Corp. (CCDCII), has signed an agreement with real estate brokerage services firm Leechiu Property Consultants for the office building.

CCDCII is a company co-owned by CPG subsidiary Century City Development Corp. (CCDC) and global business enterprise Mitsubishi Corp.

Under the agreement signed yesterday, Leechiu will be the exclusive agent to market the leasable spaces of the office building.

With a net leasable area of 58,618 square meters, Century Diamond Tower is a Philippine Economic Zone Authority (PEZA)-accredited building and follows the core and shell rating system of the Leadership in Energy and Environmental Design (LEED).

Marco Antonio, CPG chief operating officer, said the project is slated for completion next year.

“Century Diamond Tower’s completion next year will be a timely addition to the scarce supply of premium offices in the Makati CBD,” he said.

Century Properties remains bullish about the office market given the continued strong demand for quality office spaces, Antonio added.

“I am happy to note that our pipeline of projects under CPG’s business platform of for-lease properties are well-equipped to cater to the needs of discerning office locators,” he said.

Furthermore, he said that with the agreement with Leechiu, the company expects locators from multinational corporations to the business process and knowledge process outsourcing (BPO and KPO) sectors.

For his part, Masahiro Nagaoka, deputy general manager of Mitsubishi Corp., said the partnership with Century gives the company the opportunity to share its expertise into the project.

“The demand for business space in Makati will always be present and this building will be a prime addition to the limited office supply in the city,” he said.

Phillip Anonuevo, executive director of Leechiu Property Consultants, noted the project’s proximity to EDSA.

“Accessibility remains to be one of the top considerations of companies. Companies cannot go wrong with a well-designed building in a good location,” he said.

Century Diamond Tower is designed with various features including variable refrigerant flow air-conditioning system, a building automation system, 100 percent backup power with redundancy, and fire detection and alarm systems. It will have more than 650 parking slots distributed across 11 parking floors.