P28B for mass housing projects
PHirst Park Homes, the mass housing venture of Century Properties Group (CPG) and Mitsubishi Corp., has committed to invest P28 billion to roll out a series of master-planned communities outside Metro Manila in the next five years.
This is to bring to the property market P57 billion worth of new housing inventory consisting of 33,000 residential units priced for as low as P1 million to no more than P6 million, helping to ease the country’s increasing housing backlog.
Ricky Celis, president and CEO of PHirst Park Homes, said 15 self-sufficient communities would be launched within the next five years in Calabarzon and Central Luzon.
“The company is also eyeing expansion into the Visayas and Mindanao regions once it has established technical and market scale,” Celis said.
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