Century Properties still bullish on housing despite inflation, weak peso

ABS-CBN News

Posted at May 17 2018 05:26 PM

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MANILA - The head of Century Properties Group's (CPG) affordable housing unit said on Thursday they remain bullish about the market despite rising inflation and a weakening peso.

Ricky Celis, president of CPG's Phirst Park Homes, said he expects affordable housing to contribute 20-25 percent to Century's bottomline "in the near future," and that they are hedged against cost fluctuations amid rising inflation.

"We're leveraging on the scale as far as Century's overall construction activity is concerned," Celis said in an interview with ANC's Market Edge. 

He added that the company is also investing in technology through its partnership with construction company Megawide and Mitsubishi Corp. 

They are looking to develop 3 to 4 projects per year, which will be funded through a mix of internally generated funds and the debt market.