Century Properties raising P12B

Century Properties Group Inc. has laid out a major fundraising plan, which may inject the group with P12 billion in fresh capital.

In a disclosure on Friday, the firm said the planned registration of bonds with the Securities and Exchange Commission would have an initial offering of up to P5 billion. There is a principal amount of P3 billion and an oversubscription option of P2 billion.

This will consist of four-year Series D bonds and seven-year Series E bonds due in 2030 and 2033, respectively.

Century Properties hopes to raise the remaining P7 billion under a shelf registration, which it can pursue within a five-year period.

These bonds would be listed on the Philippine Dealing and Exchange Corp.

Earlier this week, the firm said it was keeping up its aggressive expansion in Central Luzon, with the completion of one project and two more now underway at its 7.8-hectare Azure North Estate in Pampanga.

The company reported the completion of its P1.6-billion Barbados Tower, the eponymous estate’s third and final high-rise building.

Construction works for the other two developments—the Azure North Townvillas and the Mykonos Tower—have also started.

The group last November said its affordable housing unit had continued booking robust sales. This helped Century Properties to record a 17-percent increase in its profit in the first nine months of this year.

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Century Properties said its earnings hit P2.1 billion, up from P1.8 billion in the same period last year.

Its consolidated revenues also climbed 14 percent to P12.31 billion from P10.79 billion a year ago.

“By balancing PHirst and premium residential segments, we are able to sustain our growth in the first nine months of 2025 as it diversifies our revenue streams and expands our footprint across the nation’s key growth corridors,” said Century Properties president and CEO Marco Antonio.

Antonio is expecting that “housing demand will remain resilient …”