For the long haul: Jose Antonio’s Century Properties and Mitsubishi to take partnership to new heights

Century Properties Group Inc. (CPG) and Japan’s biggest trading house Mitsubishi Corp. are ready to take their partnership to the next level.

In 2016, Antonio-led CPG forged a strategic partnership with Mitisubishi to enter the affordable housing segment. Their joint venture company, Phirst Park Homes (PPHI) has become a significant growth driver for CPG.

CPG president and CEO Marco R. Antonio said the group plans to expand its partnership to include non-residential projects to take advantage of new growth opportunities.

“Our idea here is to increase and broaden our presence in addressable markets via new products, new formats, and in more segments” he said

CPG executive chairman Jose E.B. Antonio said the international experience of Mitsubishi, “being one of Japan’s most respected business groups, would further add to the combined group’s experience and business strategies.”

For his part, Mitsubishi COO for Urban Development Naoshi Ogikubo said they would ensure
the company’s cooperation with CPG.

 “Our team would like to work hard with you and make sure to go into the new growth stage,” he said.

For the first nine months, PPHI contributed P2.76 billion to CPGI’s consolidated revenues of P6.07 billion.

PPHI’s projects in Tanza, Cavite; Lipa, Batangas; San Pablo, Laguna; Pandi, Bulacan; Calamba,Laguna; Nasugbu, Batangas; Magalang, Pampanga; General Trias, Cavite; Tayabas, Quezon; and Baliwag, Bulacan, have enjoyed tremendous success, with 73% of the company’s 13,829 units of inventory valued at P16.9 billion already pre-sold as of end-September

Ricky M. Celis, president and CEO of PPHI, said they plan to “bring their core product offering to a nationwide scale,”

SOURCE: Bilyonaryo

Categories: century properties, mitsubishi