|Masterplan for Century Properties' new Commonwealth by Century project in Quezon City
MANILA, Philippines - Property firm Century Properties Group, Inc. is investing P4.1 billion to develop a 4.4-hectare mid-rise residential project along Commonwealth Avenue in Quezon City.
The Residences at Commonwealth by Century, an 8-tower project beside Don Antonio Heights, represents the company's expansion into the more affordable residential market.
There will be 2,300 units available at the Commonwealth residential community project, which is designed by award-winning firm Broadway Malyan with the in-house architecture team.
"For the first time ever, Century Properties is bringing its vaunted heritage of upscale visionary real estate development to the Commonwealth, Quezon City area. It will be surpassing the usual standards set for residential projects within this category by introducing pioneering amenities and concepts that will far exceed what the market has been accustomed to. Century will introduce the 'uncommon' to redefine the standards for residential living in Quezon City. Hence, the 'Quezon City re-imagined' tagline," said Marco R. Antonio, managing director and co-chief operating officer of Century Properties.
The 8 residential towers will be named after prominent personalities of the Commonwealth period. For instance, the first building Osmeña West will have 11 floors with 200 units, and be delivered in 2015. The other towers, Quezon, Roxas, Osmeña and Quirino, will have as much as 22 storeys.
Antonio said the project is targeting local and overseas buyers, especially young professionals and startup families, with a budget of P1.5 to P3 million for a new home.
Units come in suites and one-bedroom configurations that range from 21 to 49 square meters with an average price of P80,000 per square meter. Larger-cut 2-bedroom units from 64 to 72 square meters worth P5 million and up are also available.
The reservation fee for a unit is P15,000 and monthly amortization is offered for as low as P8,000 a month for spacious apartments.
"According to recent reports by property analysts, there remains to be a huge demand for housing in the Philippines. By entering the affordable price category we would like to tell home buyers that there is a Century home for each budget and preference for location within Metro Manila," Antonio said.
The Commonwealth project will have pocket gardens, 2 full-size basketball courts, sunken badminton courts, an athletic bootcamp area and multi-level clubhouse. It will also have The Orchard, 3 tree houses shaped like apple, for kids.