Century Properties, ACC team up for Bonifacio project


Posted at Feb 18 2013 03:29 PM | Updated as of Feb 18 2013 11:29 PM

MANILA, Philippines - Listed real estate firm Century Properties Group, Inc. (CPGI) is teaming up with Asian Carmakers Corporation (ACC) for a two-tower development in Bonifacio Global City.

ACC, the official importer and distributor of BMW vehicles in the Philippines, recently signed a P1 billion deal with the Armed Forces & Police Mutual Benefit Association, Inc. for the long-term lease of the latter's property in Bonifacio Global City.

The property is bounded by 3rd and 4th Avenues and 27th streets in Bonifacio Global City.

"ACC shall form a new corporation with CPGI to construct two towers , one for commercial offices and the other for a hotel, with an expected gross floor area of 30,000sqm,"
said CPGI chairman Jose E.B. Antonio in a statement.

Century Properties is expected to complete over 4,000 residential condominium units by December, as well as a lifestyle mall Century City Mall by the fourth qurter.

With the completion of these projects, Antonio said,"we are seeking to re-invest earnings into recurring income assets."

Century Properties is the developer behind projects as the Azure Urban Resort Residences in Paranaque City; the Knightsbridge Residences at Century City, Trump Tower at Century City, the Milano Residences interior design by Versace Home, Acqua Livingstone interior design by MissoniHome; Acqua Iguazu yoo inspired by Starck; and Centuria Medical Makati.